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.
The Champions Tour’s Plan For Success
What is the Champions Tour going to do, now that the legends that founded it are out of the picture? They have a plan. And that plan has:
seven “strategies,” 37 “actions” and 145 “tactics associated with the seven strategies.” All of that emanates from the tour’s six “values.”
Really. Read on.
Sponsoring A Golfer’s Professional Dreams
Have you thought about pitching in to help sponsor the pro career of a young golfer at your club? Have dreams of cashing in on the back of some young hotshot? Read this article first.
Tournament Sponsors Pay For Exposure
BusinessWeek Online has an enlightening article on the costs and benefits of sponsoring a pro golfing tournament.
Golf Galaxy IPO Causes Yawns On Wall Street
Minnesota based Golf Galaxy recently floated an IPO with the intention of using the funds to expand into warm weather states. But the golf business isn’t exactly booming these days, and Wall Street apparently isn’t impressed.
Nationwide Insurance Cashes In On Tour
Sponsoring the PGA’s developmental tour apparently has been a boon for Nationwide Insurance. Although neither side is revealing figures, some estimates are that, while Nationwide pays $5 to $6 million a year for title sponsorship, it reaps $30 to $40 million in non-advertising media exposure.
There’s more at MSNBC on the economics of the relationship between Nationwide and the Tour. Its a fascinating article and well worth a read.
