Postponement Leaves Economic Impact

By Adam BarrSeptember 17, 2001, 4:00 pm
First, and always foremost in the national mind, is the unutterable horror of the deaths caused by the attacks on our country. Recall as well the enormous and lasting psychological damage to those who lost family and friends.
 
One of the goals of any guerrilla soldier or terrorist is the disruption of our comfort and our institutions. The economic debris occasioned by the attacks - the investments of time, effort and hard-earned money, while far less important than the human cost - will, for years, continue to rain into the life of the world like so much toxic fallout.
 
That includes the world of golf. The decision to postpone the 34th Ryder Cup matches will interfere with the justified expectations of income and profit by people and companies in and around the world of golf, and not just in the United States.
 
At this point, so soon after the attacks, no one at any of the major organizations involved is comfortable discussing the dollars and cents. But since 1991, when the dramatic matches at Kiawah Island turned heads in the sports world, the Ryder Cup has become big sports and big business.
 
A story in Golf Digest in 1999 estimated that the gross take for the 1999 Ryder Cup at the Country Club in Brookline amounted to $63 million. After expenses, the club would have made about $6 million, and the PGA of America would have netted as much as $18 million, which would have included about $13 million in television rights fees paid by NBC.
 
Surely the TV rights were worth even more this time around, especially considering that every Ryder Cup for the foreseeable future will involve the world's No. 1 athlete. NBC, which doubtless foresaw major advertising revenue from the event, is taking the cancellation in stride.
 
'We're disappointed,' said an NBC spokesman, 'but it's a delay we can live with. The PGA of America had a complex set of considerations to deal with, and we support its decision.'
 
The list of businesses affected by the Belfry postponement is crowded: food and beverage, merchandise, ticket sales, travel and lodging, corporate entertainment, all these functions; and the people they employ stand to suffer the loss of income, or at least a delay until 2002.
 
PGA of America CEO Jim Awtrey has said that the Ryder Cup is the Olympics of golf, and that it has never been about the money. Now, in a time for which the world has no precedent for guidance, the postponement of the Ryder Cup is not about the money, either. But the loss of money from the event, and the hardship it may work on people who were depending on it, is an example of the spider-web nature of our world: you can't touch, or destroy, one strand without sending shock waves through the rest of the web.
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Woods favored to miss Farmers Insurance Open cut

By Will GrayJanuary 24, 2018, 1:54 am

If the Las Vegas bookmakers are to be believed, folks in the San Diego area hoping to see Tiger Woods this week might want to head to Torrey Pines early.

Woods is making his first competitive start of the year this week at the Farmers Insurance Open, and it will be his first official start on the PGA Tour since last year's event. He missed nearly all of 2017 because of a back injury before returning with a T-9 finish last month at the Hero World Challenge.

But the South Course at Torrey Pines is a far different test than Albany, and the Westgate Las Vegas SuperBook lists Woods as a -180 favorite to miss the 36-hole cut. It means bettors must wager $180 to win $100, while his +150 odds to make the cut mean a bettor can win $150 with a $100 wager.

Woods is listed at 25/1 to win. He won the tournament for the seventh time in 2013, but in three appearances since he has missed the 36-hole cut, missed the 54-hole cut and withdrawn after 12 holes.

Here's a look at the various Woods-related prop bets available at the Westgate:

Will Woods make the 36-hole cut? Yes +150, No -180

Lowest single-round score (both courses par 72): Over/Under 70

Highest single-round score: Over/Under 74.5

Will Woods finish inside the top 10? Yes +350, No -450

Will Woods finish inside the top 20? Yes +170, No -200

Will Woods withdraw during the tournament? Yes +650, No -1000

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Monahan buoyed by Tour's sponsor agreements

By Rex HoggardJanuary 24, 2018, 12:27 am

SAN DIEGO – Farmers Insurance announced on Tuesday at Torrey Pines a seven-year extension of the company’s sponsorship of the Southern California PGA Tour event. This comes on the heels of Sony extending its sponsorship of the year’s first full-field event in Hawaii through 2022.

Although these might seem to be relatively predictable moves, considering the drastic makeover of the Tour schedule that will begin with the 2018-19 season, it is a telling sign of the confidence corporations have in professional golf.

“It’s a compliment to our players and the value that the sponsors are achieving,” Tour commissioner Jay Monahan said.

Monahan said that before 2014 there were no 10-year title sponsorship agreements in place. Now there are seven events sponsored for 10-years, and another five tournaments that have agreements in place of at least seven years.

“What it means is, it gives organizations like the Century Club [which hosts this week’s Farmers Insurance Open], when you have that level of stability on a long-term basis that allows you to invest in your product, to grow interest and to grow the impact of it,” Monahan said. “You experienced what this was like in 2010 or seen other tournaments that you don’t know what the future is.S o to go out and sell and inspire a community and you can’t state that we have a long-term agreement it’s more difficult.”

Events like this year’s Houston Open, Colonial in Fort Worth, Texas, and The National all currently don’t have title sponsors – although officials at Colonial are confident they can piece together a sponsorship package. But even that is encouraging to Monahan considering the uncertainty surrounding next season’s schedule, which will include the PGA Championship moving to May and The Players to March as well as a pre-Labor Day finish to the season.

“When you look back historically to any given year [the number of events needing sponsors] is lower than the typical average,” Monahan said. “As we start looking to a new schedule next year, you get excited about a great schedule with a great group of partners.”

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Day WDs from Farmers pro-am because of sore back

By Golf Channel DigitalJanuary 24, 2018, 12:07 am

SAN DIEGO – Jason Day has withdrawn from the Wednesday pro-am at the Farmers Insurance Open, citing a sore back.

Day, the 2015 champion, played a practice round with Tiger Woods and Bryson DeChambeau on Tuesday at Torrey Pines, and he is still expected to play in the tournament.

Day was replaced in the pro-am by Whee Kim. 

Making his first start since the Australian Open in November, Day is scheduled to tee off at 1:30 p.m. ET Thursday alongside Jon Rahm and Brandt Snedeker.

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Farmers inks 7-year extension through 2026

By Golf Channel DigitalJanuary 24, 2018, 12:04 am

SAN DIEGO – Farmers Insurance has signed a seven-year extension to serve as the title sponsor for the PGA Tour event at Torrey Pines, it was announced Tuesday. The deal will run through 2026.

“Farmers Insurance has been incredibly supportive of the tournament and the Century Club’s charitable initiatives since first committing to become the title sponsor in 2010,” PGA Tour commissioner Jay Monahan said.


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“We are extremely grateful for the strong support of Farmers and its active role as title sponsor, and we are excited by the commitment Farmers has made to continue sponsorship of the Farmers Insurance Open for an additional seven years.

In partnership with Farmers, the Century Club – the tournament’s host organization – has contributed more than $20 million to deserving organizations benefiting at-risk youth since 2010.