PGA Tour $ 40 Million Participation Trophy
It’s no secret that the PGA Tour is a cash cow.
With weekly events lasting essentially three quarters of a calendar year, the myriad of sponsors, broadcast offers, event hosts, fees, content rights, and more. It also comes at a heavy cost, as it is a constantly moving road show that requires intense coordination, hours of work, etc. It’s not money for nothing, which we’ll cover at the end of this article.
This plethora of prosperity holds true for many of the stars of the TOUR as well, those who are the big names who also bring home serious pieces due to corporate partnerships, sportswear, product advertisements and offers from. manufacturers.
I will never, ever, lament a business or person for making a huge amount of money as long as they do so in a moral and honest manner. Based on the news announced by Golfweek and confirmed by the PGA TOUR officials, it is quite evident that the top golf league in the world is so successful that it has too much money and lacks the means to make it happen. spend.
If you missed the story, the PGA TOUR has quietly developed a new special compensation pool of $ 40 million per year to reward golfers who do business at TOUR in terms of engagement, social media tracking, dollars. sponsorship for the TOUR and publicity. Known as the Player Impact Program, the top 10 players who move the needle for the PGA TOUR (based on their own internal metrics) will additionally be paid not for winning but for being media darlings.
Congratulations, PGA TOUR. You are from Kardashian, the world’s elite golf league.
Plus, I can’t believe I just used the word “Kardashian” as a verb. We’re all screwed.
Why would the PGA TOUR consider this? The answer is the continued threat of a possible launch of the Premier Golf Tour and the use of a similar incentive program for its top players who card more advertising dollars, even if that means fewer titles won. It wouldn’t be the first time the PGA TOUR, or any company for that matter, has taken something from a threat or another operator and it sure won’t be the last. But this time, they took the worst possible idea and gave it legs.
There are a ton of reasons I think this is a bad idea, so we’re going to go with my big one:
The reward is not based on performance or merit.
Yes, this is the participation trophy for all participation trophies, but it comes with a large check, as the player image made the TOUR money. And based on the perception of who does what in the public eye, the TOUR could stroke a pretty meaty check to a player who couldn’t sink a bird if the cup opening was similar to that of a Home Bucket. Deposit. (I’m looking at you, Rickie Fowler).
The PGA TOUR cut nearly 50 office jobs among what was expected to be an operating loss of $ 90 million in 2020 due to the impacts of COVID-19. Charitable donations have been kept to the best of their ability, but have also been affected by the pandemic. With all these problems and challenges, the TOUR has always found a way to keep the scholarships level and now all of a sudden they have $ 40 million to throw away for doing nothing but being a face or a voice in the game.
I often say that having too much money and not enough to do with it is a big deal to have in business. That also being said, tossing Brinks trucks worth money at gamers just to be an advertising or social media darling after you’ve already received some nice checks for doing so.
If there is that extra reserve of cash lying around in their headquarters in Florida (well, Florida for now), the PGA TOUR should invest more of that money in growing the game from the youth level, thus improving financial payments at their lower level. level tours to better grow scholarships and lighten the work that goes into this life a bit, by returning additional funds to areas affected by the pandemic where the charity aspect has failed, and bringing their employment levels back to pre-COVID-19 levels.
Instead, the PGA TOUR is forced to create a financial participation trophy similar to an old Dire Straits track.
It’s money for nothing.
Cover image via Instagram
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