David Bach won this event back in 2009, and he began Day 3 as the only former champ remaining in the field. Unfortunately he did so on an extremely short stack.
He got the last of his chips all in on a hand of limit hold'em and found himself racing against Daniel Alaei. Bach held pocket nines while Alaei was sitting with . Long story short, the nines failed to hold and Bach took his leave from the tournament.
That means a first-time champion is guaranteed in this year's $50,000 Poker Players' Championship.