CNBC: Trump likely inflating his course values

By Nick MentaJuly 24, 2015, 6:57 pm

Donald Trump often touts that he invested in golf while the rest of the business world was running from it, but he may be exaggerating the return on that investment.

According to documents released by the Federal Election Commission on Wednesday, Trump, who is currently seeking the Republican nomination for President of the United States, claims his 16 golf properties are worth between $500 million and $675 million.

On Thursday, a CNBC report alleged those valuations to be grossly inflated:

"The financial disclosure form values many of Trump's courses at two to four times the multiples of annual revenue other courses command, in an industry where most operators struggle to make profits, according to golf course appraisers. An industry rule of thumb is that courses are worth 1 to 1.5 times their annual revenue.

"Trump reported combined revenue of less than $160 million, excluding the Miami resort, which doesn't break out golf-related revenue, and land sales at the Los Angeles property. Based on the industry standard valuation metric, that would put the value of Trump's golf empire closer to $160 million to $250 million."

Trump's net worth as disclosed to the FEC is at least $1.15 billion. The report points out that if his own vaulations are correct, his golf empire would constitute "a big chunk" of his total wealth, perhaps as much as half.

The Donald valued 10 of his golf courses at more than $50 million, but Larry Hirsh, a founder of the Society of Golf Appraisers and president of Golf Property Analysts, expressed to CNBC his skepticism.

"I've valued 3,000 courses in 45 states, Canada and beyond and I can only remember one that was worth $50 million," Hirsh said. "It had four courses at an extraordinarily well known facility."

Trump was recently the subject of controversy for his comments on illegal immigration, which prompted a joint statement from the PGA Tour, USGA, LPGA and PGA of America condemning his remarks. He also became embroiled in a public back and forth with LPGA commissioner Mike Whan over the possibility - on in this case impossibility - of moving next week's RICOH British Open from Trump Turnberry.

As for his other connections to those governing bodies, Trump is the owner of Trump National Doral, which hosts the WGC-Cadillac Championship, Trump National Bedminster, which is set to host the 2017 U.S. Women's Open and 2022 PGA Championship, and Trump National Washington D.C., set to host the 2017 Senior PGA Championship.

Trump International Puerto Rico - the home of the Puerto Rico Open, played opposite the WGC at Doral - filed for bankruptcy protection earlier this month. Trump, however, does not own that property and has merely licensed his name for the club's use, as detailed extensively in this aricle from the Washington Post.

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Ortiz takes Web.com Tour clubhouse lead in Bahamas

By Golf Channel DigitalJanuary 16, 2018, 2:19 am

Former Web.com Tour Player of the Year Carlos Ortiz shot a bogey-free, 4-under-par 68 Monday to take the clubhouse lead in The Bahamas Great Exuma Classic at Sandals Emerald Bay.

Four other players - Lee McCoy, Brandon Matthews, Sung Jae Im and Mark Anderson - were still on the course and tied with Ortiz at 6-under 210 when third-round play was suspended by darkness at 5:32 p.m. local time. It is scheduled to resume at 7:15 a.m. Tuesday.

Ortiz, a 26-year-old from Guadalajara, Mexico, is in search of his fourth Web.com Tour victory. In 2014, the former University of North Texas standout earned a three-win promotion on his way to being voted Web.com Tour Player of the Year.

McCoy, a 23-year-old from Dunedin, Fla., is looking to become the first player to earn medalist honors at Q-School and then win the opening event of the season.

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Randall's Rant: Can we please have some rivalries?

By Randall MellJanuary 16, 2018, 12:00 am

Memo to the golf gods:

If you haven’t finalized the fates of today’s stars for the new year, could we get you to deliver what the game has lacked for so long?

Can we get a real, honest-to-goodness rivalry?

It’s been more than two decades since the sport has been witness to one.

With world No. 1 Dustin Johnson and former world No. 1 Rory McIlroy at the Abu Dhabi HSBC Championship this week, an early-season showdown would percolate hope that this year might be all about rivalries.

It seems as if the stars are finally aligned to make up for our long drought of rivalries, of the recurring clashes you have so sparingly granted through the game’s history.

We’re blessed in a new era of plenty, with so many young stars blossoming, and with Tiger Woods offering hope he may be poised for a comeback. With Johnson, McIlroy, Jordan Spieth, Jason Day, Justin Thomas, Jon Rahm, Hideki Matsuyama, Brooks Koepka and Rickie Fowler among today’s dynamic cast, the possibility these titans will time their runs together on the back nine of Sundays in majors excites.

We haven’t seen a real rivalry since Greg Norman and Nick Faldo sparred in the late '80s and early '90s.

Woods vs. Phil Mickelson didn’t really count. While Lefty will be remembered for carving out a Hall of Fame career in the Tiger era, with 33 victories, 16 of them with Tiger in the field, five of them major championships, we get that Tiger had no rival, not in the most historic sense.


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Phil never reached No. 1, was never named PGA Tour Player of the Year, never won a money title and never dueled with Woods on Sunday on the back nine of a major with the title on the line.  Still, it doesn’t diminish his standing as the best player not named Tiger Woods over the last 20 years. It’s a feat so noteworthy it makes him one of the game’s all-time greats.

We’ve been waiting for an honest-to-goodness rivalry since Faldo and Norman took turns ruling at world No. 1 and dueling in big events, including the back nine of multiple majors. 

In the '70s, we had Nicklaus-Watson. In the '60s, it was Nicklaus-Palmer. In the '40s and '50s, it was Hogan, Snead and Nelson in a triumvirate mix, and in the '20s and '30s we had Hagen and Sarazen.

While dominance is the magic ingredient that can break a sport out of its niche, a dynamic rivalry is the next best elixir.

Dustin Johnson looks capable of dominating today’s game, but there’s so much proven major championship talent on his heels. It’s hard to imagine him consistently fending off all these challengers, but it’s the fending that would captivate us.

Johnson vs. McIlroy would be a fireworks show. So would Johnson vs. Thomas, or Thomas vs. Day or McIlroy vs. Rahm or Fowler vs. Koepka ... or any of those combinations.

Spieth is a wild card that intrigues.

While he’s not a short hitter, he isn’t the power player these other guys are, but his iron game, short game, putter and moxie combine to make him the most compelling challenger of all. His resolve, resilience and resourcefulness in the final round of his British Open victory at Royal Birkdale make him the most interesting amalgam of skill since Lee Trevino.

Woods vs. any of them? Well, if we get that, we promise never to ask for anything more.

So, if that cosmic calendar up there isn’t filled, how about it? How about a year of rivalries to remember?

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McIlroy: 2018 may be my busiest season ever

By Will GrayJanuary 15, 2018, 6:28 pm

With his return to competition just days away, Rory McIlroy believes that the 2018 season may be the most action packed of his pro career.

The 28-year-old has not teed it up since the Alfred Dunhill Links Championship in early October, a hiatus he will end at this week's Abu Dhabi HSBC Championship. It will be the start of a busy spring for the Ulsterman, who will also play next week in Dubai before a run of six PGA Tour events leading up to the Masters.

Speaking to the U.K.'s Telegraph, McIlroy confirmed that he will also make a return trip to the British Masters in October and plans to remain busy over the next 12 months.

"I might play more times this year than any before. I played 28 times in 2008 and I'm on track to beat that," McIlroy said. "I could get to 30 (events), depending on where I'm placed in the Race to Dubai. But I'll see."

McIlroy's ambitious plan comes in the wake of a frustrating 2017 campaign, when he injured his ribs in his first start and twice missed chunks of time in an effort to recover. He failed to win a worldwide event and finished the year ranked outside the top 10, both of which had not happened since 2008.

But having had more than three months to get his body and swing in shape, McIlroy is optimistic heading into the first of what he hopes will be eight starts in the 12 weeks before he drives down Magnolia Lane.

"I've worked hard on my short game and I'm probably feeling better with the putter than I ever have," McIlroy said. "I've had a lot of time to concentrate on everything and it all feels very good and a long way down the road."

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What's in the Bag: Sony Open winner Kizzire

By Golf Channel DigitalJanuary 15, 2018, 6:05 pm

Patton Kizzire earned his second PGA Tour victory by winning a six-hole playoff at the Sony Open in Hawaii. Take a look inside his bag.

Driver: Titleist 917D3 (10.5 degrees), with Fujikura Atmos Black 6 X shaft

Fairway Wood: Titleist 917F2 (16.5 degrees), with Aldila Tour Blue 95 TX shaft

Hybrid: Titleist 913H (19 degrees), with UST Mamiya AXIV Core 100 Hybrid shaft

Irons: Titleist 718 T-MB (4), 718 CB (5-6), 718 MB (7-9), with True Temper Dynamic Gold X100 shafts

Wedges: Titleist SM7 prototype (47, 52, 56, 60 degrees), with True Temper Dynamic Gold X100 shafts

Putter: Scotty Cameron GoLo Tour prototype

Ball: Titleist Pro V1x