Can the PGA Tour survive the economic downturn?

http://www.thegolfblog.com/2009/02/economic-hazard-why-tim-finchem-and-pga.html

The Economic hazard: why Tim Finchem and PGA Tour are in big trouble

Here's why: Sponsorships for nearly half (20) of the PGA tournaments are expiring in 2010. U.S. Bank and FBR have both announced they will stop sponsoring. Another bank, Northern Trust, received flak from Congress for hosting a golf tournament while receiving bailout money. By my count, at least 8 other tournaments are sponsored by entities from the banking, financial, or insurance sectors--areas hit really hard by the economic downturn. 5 are sponsored by car manufacturers (including 2 by Buick), another sector in dire economic straits. Mercedes has already announced that it may stop its sponsorship of the season's first tournament.

According to USAToday, "Tour officials are pursuing new sponsorship deals with companies in the energy, retail and environmental industries to try to make up for a potential exodus of sponsors." Even Tiger Woods is worried, saying: "The Tour is obviously feeling it, just like any other part of the business world. I think it is very important for all of us to understand how important the sponsors are to our sport. ... We may be losing a few tournaments, and a lot of tournaments are coming up on their contract years. This is a very important year."


I don't see Walmart and Clean Coal picking up many tour sponsorships. And I know that club memberships are down sharply this year as people cut the easy stuff out first.

I realize that other professional sports like the NBA may have to restructure or close down but I believe that Golf and NASCAR are particularly venerable.

maybe then the clueless GOP'ers which are entralled with golf and nascar may have so much time on their hands that they have to pay attention to what is happening in this country.

I keep telling you guys NASCAR is good for the environment, and none of you will listen.

Here's how it works: A lot of NASCAR fans like two-stroke-engine-powered things...jon boats, dirt bikes, four-wheelers, that sort of thing. Which pollutes more: 43 very well-tuned racing engines running for three hours, or five million two-stroke engines running for the same length of time? It's hard to ride your four-wheeler if you're glued to your TV set watching a race instead.

The "Accenture" open or some shit like that.
From beautiful Scottsdale, Arizona I believe.
Ever hear of "Accenture"?
Weren't they Arthur Anderson of the Enron and WorldCom collapses?
Phil Mickelson pimps for "Bearing Point", another whore who just up and changed their names after monumental criminal acts and stealing billions.

They did a quick interview with the CEO of "Accenture" and he was talking about his companies financial "products".
Financial companies should not have "products" they have a simple job.
I give you money and you turn it into more money.
I guess they figured out it's much easier and there is far less risk in just stealing it.

If Tiger plays well this year and wins a few majors, or is in most of them come late Sunday afternoon, the tour will prosper.
If he plays poorly coming off his surgery, and gets bounced early and often, or if he has to sit out a bunch of dates due to injury or something, they will be in trouble.

Just my two cents.

If Tiger plays well this year and wins a few majors, or is in most of them come late Sunday afternoon, the tour will prosper.

Why? Because, Tiger, like Michael Jordan before him, is a super-DUPER star. That is, both his talent and personal appeal are so extraordinary, they attract the attention of even NON-sports fans--and their money. Jordan did such a good job of raising all the NBA's boats that it has yet to recover financially from his retirement (Yao Ming and LeBron James notwithstanding). With Tiger on the disabled list, the PGA has been going through the same thing.


rocktivity

They overbuilt in the '90s. That's over now.

I happen to enjoy golf, which I know condemns one to hell around here, but so be it.

I enjoy golf too.

with a nice golf course so I've always been OK with the game. I have just had to laugh over the years at some of the preposterous people playing it!

I imagine the purses will simply shrink and you will see less travel for the lower ranked golfers.

Gawd, what a waste of time, but how beautifully and sinisterly pulled off!

His knee may be healed, but it's going to take him a few more tournaments until he's in mid-season form mentally.

:headbang:
rocknation

George Herbert Walker:

In addition to his business concerns, Walker was also a golf enthusiast and a President of the United States Golf Association (USGA). The USGA's Walker Cup (the famous biennial golf match) acquired Walker's namessake for his role in the event's creation. His son-in-law, Prescott Bush was a member of the executive committee of the USGA, serving successively as Secretary, Vice President and President, 1928-1935. He also coheaded the syndicate, (with W. Averell Harriman), which rebuilt the famed sports venue of Madison Square Garden and the Belmont Race Track, 1925. His brother-in-law Joseph Walker Wear was one of the founders of the Davis Cup.

http://en.wikipedia.org/wiki/George_Herbert_Walker

Why did it take anyone so long to figure this out?

When you remove Auto companies and Financial firms there really isn't anyone out there looking to sponsor golf in a big way.

and there are idiots here hoping for it's failure.

David

of various entities is really self-destructive and ignorant?

Mike

I find it hard to believe they give more money than the NFL with their United Way partnership.

http://www.reuters.com/article/sportsNews/idUSTRE51A8FW20090211

David

Golf has always been a little too snooty for my tastes.

they are going to have some serious problems in coming years.

They simply don't have the revenue coming in and corporations are dropping the skyboxes as if they were radioactive.

close up and sell out, I won't be crying any tears. Too many golf courses is a waste of space that could be used for more important things--city parks/forests, subsidized housing, community gardens, you get my drift.

I'm fine with having a regional golf course. I'm NOT fine with having FIVE regional golf courses because the people in City A are too lazy to drive 15 miles to City B when they feel like golfing, and/or because Rich People A want one that only THEY can use in their special little club.

:puke:

Plenty of companies out there would love to sponsor some of these golf matches and car races. McDonald, Pepsi. Panasonic, etc.

I think someone is putting these stories out so people can say see even the wealthy are hurting. When they really aren't.

Don

This isn't about the wealthy hurting... It is about corporate america desperate to appear they are not wasting government money on things like golf tournaments.

and they should be. I adore the sport and wish people would realize it's not a sport for just the wealthy anymore. There are so
many public courses where anyone can play. Those in this thread who look down their noses at golfers and call them uppity, may
I suggest you look at the number of fingers pointing back at you and ask yourself, who's the real bigot here?