Darren Rovell is a CNBC Sports Business Reporter and is also the host of “CNBC SportsBiz: Game On” on the NBC Sports Network. FedEx and the PGA TOUR have extended their deal until 2017 and this is a very important and significant announcement. This is a big deal and further evidence that Tim Finchem is doing a great job as PGA TOUR Commissioner and deserved his own extension until 2016. What makes this news particularly notable is the fact that through 2017, FedEx has guaranteed that the winner will receive a $10 million bonus.
One of the remaining issues for the PGA TOUR is the complicated nature of the FedExCup points scoring system and it is something that the PGA TOUR will and should continue to look at. The fact that FedEx is remaining the sponsor really helps the brands for both the PGA TOUR and for FedEx itself. The tough part is the return on investment because both FedEx and the PGA TOUR have their own definitions.
Phil Mickelson is about one major deal away from getting to the level of business prominence that Tiger Woods currently holds. Mickelson has for many years been the #2 man behind Tiger and as Phil continues to win and successfully market himself, he gets closer to that top level and he may be one big deal away.
He has never seen anything like “Linsanity” with the New York Knicks. Jeremy Lin is in his rookie season and while many people in the United States are excited, many people in China are also very excited by this story. He was at the first store where the Lin jerseys arrived at Modell’s in New York and he witnessed someone buy 21 large jerseys.