If you’ve ever watched the World Series of Poker on television or in person, then you know who Guy Laliberté (pictured) is. He’s the founder of the highly successful Cirque du Soleilas well as the One Drop foundation, which has parlayed its name into annual charity poker tournaments at the WSOP.

Late last week, it was reported that Laliberté could be dangerously close to selling a majority stake in Cirque du Soleil and, according to the
Toronto Star, bidders have been given until next week to submit their offers. To that end, a Cirque spokesperson told the paper, “Last June, Guy Laliberté announced he was searching for a strategic partner. The process for that search is currently ongoing. Mr. Laliberté will also take the time to review his options.”

This wouldn’t be the first time Laliberté has sold a piece of Cirque. According to the Star, he sold 20% of the company in 2008 for $600 million. You “Shark Tank” aficionados would know that means the company, at the time, was valued at $3 billion.

However, Cirque has hit a rough patch recently. In addition to the death of a KA performer in 2013 at the MGM Grand Las Vegas, the Star explained, “In January 2013, the company announced 600 layoffs following a disastrous 18-month period where four major shows closed around the world (Tokyo, Macau, Las Vegas, and Los Angeles). Even the commercially successful ones like ‘Michael Jackson: The Immortal World Tour’ faced drastically mixed reviews.”

Laliberté currently owns 90% of Cirque despite initially selling off 20%.

The One Drop tournaments at the Rio during the WSOP have raised over $16 million for charity. This year, $111,111 and $1,111 buy-in versions will take place. Last year, Dan Colman won the Big One for One Drop, which had a $1 million buy-in, for a staggering $15 million. Laliberté has been a frequent participant in these tournaments and instrumental in bringing them to the WSOP in the first place. Colman is pictured.

Cirque was founded in 1984. It has 4,000 employees and revenues in excess of $800 million. According to the Wall Street Journal, “Revenues dropped to $850 million in 2013 from $1 billion in 2012, yet the company netted a profit again due to the cost controls.”

How a sale would affect Cirque and/or One Drop remains to be seen.

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