Players to Make Millions in Pensions
In a report compiled by Golfweek Magazine, it has been disclosed that a 26-year-old player who begins his career on the tour in 2001 and averages 75th on the official money list for 17 years could accumulate approximately $43 million in earnings in his account.
Based off tour projections, Golfweek also reported that World No. 1 Tiger Woods could stockpile anywhere between $200 to $300 million by the end of his career in pension savings alone.
Originally designed by former commissioner Deanne Beman in 1983, the plans basis of compensation was the making of cuts. Its intention was the encouraging of players to compete in as many events as possible.
Today, the plan is structured on a three-part basis. The first rewards players for making cuts in tournaments. The second allocates money based on players official earnings during certain times of the season. The third rewards players overall earnings during the entire year.
Last year, a player making a cut in a PGA Tour event was awarded $3,253 towards their plan. After a player had made 15 cuts, that figure doubled to $6,506.
The potential results: an average player on tour could easily wind up retiring with tens of millions of dollars in their pension plans, possibly without ever having won an official event.
Certain analysts are cautioning, however, that the figures may be inflated, based off the fact that tour projections assume an 8 percent annual interest rate of return, and a 5 percent annual increase in plan funding. In addition, the plan accounts for players making 12 cuts per year between the ages of 45 through 49, and it is based off benefits that are not paid out until a player reaches the age of 60.
Yet, while there is no certainty as to exactly what market conditions will dictate, or how much any given account will ultimately be worth, it is clear that for the good player, the plan will be a source of great financial gain.
So much so, that Woods father and financial overseer (Earl Woods) told Golfweek that he feels his son could potentially assume a net worth of $5 billion or more by the time his career is through.
If things continue and he remains healthy, Woods told Golfweek, theres no limit.
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Suspended Hensby offers details on missed drug test
One day after receiving a one-year suspension from the PGA Tour for failing to provide a sample for a drug test, Mark Hensby offered details on the events that led to his missed test in October.
Hensby, 46, released a statement explaining that the test in question came after the opening round of the Sanderson Farms Championship, where the Aussie opened with a 78. Frustrated about his play, Hensby said he was prepared to give a blood sample but was then informed that the test would be urine, not blood.
"I had just urinated on the eighth hole, my 17th hole that day, and knew that I was probably unable to complete the urine test for at least a couple more hours," Hensby said. "I told this gentleman that I would complete the test in the morning prior to my early morning tee time. Another gentleman nearby told me that 'they have no authority to require me to stay.' Thus, I left."
Hensby explained that he subsequently received multiple calls and texts from PGA Tour officials inquiring as to why he left without providing a sample and requesting that he return to the course.
"I showed poor judgment in not responding," said Hensby, who was subsequently disqualified from the tournament.
Hensby won the 2004 John Deere Classic, but he has missed six cuts in seven PGA Tour starts over the last two years. He will not be eligible to return to the Tour until Oct. 26, 2018.
"Again, I made a terrible decision to not stay around that evening to take the urine test," Hensby said. "Obviously in hindsight I should have been more patient, more rational and taken the test. Call me stupid, but don't call me a cheater. I love the game. I love the integrity that it represents, and I would never compromise the values and qualities that the game deserves."
Day's wife shares emotional story of miscarriage
Jason Day’s wife revealed on social media that the couple had a miscarriage last month.
Ellie Day, who announced her pregnancy on Nov. 4, posted an emotional note on Instagram that she lost the baby on Thanksgiving.
Swipe to see what’s up in my world. It’s long-winded.... short version, we lost the baby. Had to share this since we had shared the news already. I know you’re all so supportive and kind. I just couldn’t face it before. Now let’s get back to our regularly scheduled programming. #ihavealotoffeelings #andphotostocatchupon
“I found out the baby had no heartbeat anymore. I was devastated,” she wrote. “I snuck out the back door of my doctor, a hot, sobbing, mascara-covered mess. Two and a half weeks went by witih me battling my heart and brain about what was happening in my body, wondering why this wouldn’t just be over.”
The Days, who have two children, Dash and Lucy, decided to go public to help others who have suffered similar heartbreak.
“I hope you know you aren’t alone and I hope you feel God wrap his arms around you when you feel the depths of sorrow and loss,” she wrote.
Newsmaker of the Year: No. 5, Sergio Garcia
This was the year it finally happened for Sergio Garcia.
The one-time teen phenom, known for years as “El Nino,” entered the Masters as he had dozens of majors beforehand – shouldered with the burden of being the best player without a major.
Garcia was 0-for-72 driving down Magnolia Lane in April, but after a thrilling final round and sudden-death victory over Justin Rose, the Spaniard at long last captured his elusive first major title.
The expectation for years was that Garcia might land his white whale on a British links course, or perhaps at a U.S. Open where his elite ball-striking might shine. Instead it was on the storied back nine at Augusta National that he came alive, chasing down Rose thanks in part to a memorable approach on No. 15 that hit the pin and led to an eagle.
A green jacket was only the start of a transformative year for Garcia, 37, who heaped credit for his win on his then-fiancee, Angela Akins. The two were married in July, and months later the couple announced that they were expecting their first child to arrive just ahead of Garcia’s return to Augusta, where he'll host his first champions’ dinner.
And while players often cling to the notion that a major win won’t intrinsically change them, there was a noticeable difference in Garcia over the summer months. The weight of expectation, conscious or otherwise, seemed to lift almost instantly. Like other recent Masters champs, he took the green jacket on a worldwide tour, with stops at Wimbledon and a soccer match between Real Madrid and Barcelona.
The player who burst onto the scene as a baby-faced upstart is now a grizzled veteran with nearly two decades of pro golf behind him. While the changes this year occurred both on and off the course, 2017 will always be remembered as the year when Garcia finally, improbably, earned the title of major champion.
Green jacket tour
Man of the people
Ace at 17th at Sawgrass
Departure from TaylorMade
Squashed beef with Paddy
Victory at Valderrama
Newsmakers of the Year: Top 10 in 2017
GolfChannel.com is counting down the top 10 Newsmakers of the Year as voted on by Golf Channel’s writers, editors, reporters and producers. Check out the list below, including future release dates:
No. 4: Dec. 13
No. 3: Dec. 14
No. 2: Dec. 15
No. 1: Dec. 18