Category: Business

Golf is big business. The most recent figures shows that the golf economy comes to more than $60 billion. Compare that the movie industry’s $57 billion. That’s bigger than the Gross Domestic Product of Peru, Romania, Ukraine or Morocco. How big has golf become? In 1958, Arnold Palmer was the PGA Tour money leader, with $42,000 in winnings. In 2005, Vijay Singh won a little over a million in just two tournaments. This section is devoted to the business of golf.

Mickelson #2—In Endorsements

Tiger Woods topped the 2004 Forbes List of the World’s Richest Athletes, making nearly $77 million a year—with $70 million of that coming from endorsements.

In the golf world, Phil Mickelson comes in a distant second, taking in about $20 million yearly from Ford, Rolex, Bearing Point and Callaway. BusinessWeek writes that his image as a wholesome family man (he travels with strollers and kiddie car seats) makes him a marketer’s dream. Its a good article with lots of insight into the business end of golf.

Just for the record, here’s the 2004 Forbes List of the World’s Richest Athletes.

  1. Tiger Woods
  2. Michael Schumacher
  3. Peyton Manning
  4. Michael Jordan
  5. Shaquille O’Neal
  6. Kevin Garnett
  7. Andre Agassi
  8. David Beckham
  9. Alex Rodriguez
  10. Kobe Bryant

I was surprised to see Michael Schumacher on the list, but I’m told by my father-in-law (an autoracing fanatic) that he’s practically a god in Europe.

April 2, 2005 |  Category: BusinessPGA Tour
Posted By The Original Golf Blogger

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Saginaw Golf Center

In local golf news—ok, not so local, but it is Michigan—the Saginaw News is reporting that a new year-round golf center will soon begin construction in that city.

The center will feature a fitness center, heated tees and short game practice areas. But no dome (apparently).

It’s probably good to skip the dome. A few years ago, the inflatable dome in Auburn Hills collapsed in the high winds. Heated tees should be enough to satisfy the avid golfer. I regularly use a local heated tee in sub-freezing weather.

January 27, 2005 |  Category: Business
Posted By The Original Golf Blogger

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The State of Golf

Every January, the President of the United States makes a speech to the US Congress reporting on the "State of the Union." August seems like a good time for a report on the state of golf. Here's an interesting one.

August 24, 2004 |  Category: Business
Posted By The Original Golf Blogger

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Rounds Up In First Quarter

The National Golf Foundation reports that the number of rounds played is up 5.3% in the first quarter.

May 4, 2004 |  Category: Business
Posted By The Original Golf Blogger

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Slazenger Tries To Reestablish Rep

An article on how Slazenger is trying to strengthen its brand name.

May 3, 2004 |  Category: Business
Posted By The Original Golf Blogger

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Callaway Golf Balls Finally Show Profit

Since 2000, Callaway has been losing $20 million a year on its golf ball business, so a 1st quarter profit of $1 million is a big deal. Full story here.

May 2, 2004 |  Category: Business
Posted By The Original Golf Blogger

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