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4 Tour events could be without title sponsors
Source: Agencies |
September 23, 2010, Thursday
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COMMISSIONER Tim Finchem believes the PGA Tour has made good progress in difficult economic circumstances but predicts the US circuit could be without up to four title sponsors for the 2011 season.
Although he has said there was always a small risk tournaments could be cut from the schedule if they did not secure financial backing, he was optimistic solutions would be found.
"We continue to navigate the choppy waters of the downturn, we've made a lot of progress," Finchem said on Tuesday in the build-up to the Tour Championship.
"In this last 18 months, we've announced 20 either new sponsors or extensions of sponsorships that are major in nature, an increasing number of tournaments being taken out (extended) to 2015 and 2016, so we're delighted about the progress that we've made."
Asked how many tournaments would be without title sponsors for next year, Finchem replied: "Three or four would be my guess, although all tournaments are funded so we're pleased with that. We have some more announcements to make and we have a number of discussions, so that number (of events without title sponsorship) could change."
This year's PGA Tour features 47 events.
Among those yet to secure a major sponsor for next season are the World Golf Championships event in Miami and the tournament at Hilton Head Island in South Carolina, held the week after the US Masters.
"We're not moving to a different business model, but we have a couple of situations where there's sufficient funding in the marketplace to carry us into title positions," Finchem said.
"We have a long way to go, but the strategies we've employed seem to have been working.
"The players have done their part, and we continue to be able to maintain somewhat of a growth curve in this down economy."
Finchem expressed delight in a 2010 PGA Tour season which has yielded a number of victories by emerging young talents as well as several by the established names.
Although he has said there was always a small risk tournaments could be cut from the schedule if they did not secure financial backing, he was optimistic solutions would be found.
"We continue to navigate the choppy waters of the downturn, we've made a lot of progress," Finchem said on Tuesday in the build-up to the Tour Championship.
"In this last 18 months, we've announced 20 either new sponsors or extensions of sponsorships that are major in nature, an increasing number of tournaments being taken out (extended) to 2015 and 2016, so we're delighted about the progress that we've made."
Asked how many tournaments would be without title sponsors for next year, Finchem replied: "Three or four would be my guess, although all tournaments are funded so we're pleased with that. We have some more announcements to make and we have a number of discussions, so that number (of events without title sponsorship) could change."
This year's PGA Tour features 47 events.
Among those yet to secure a major sponsor for next season are the World Golf Championships event in Miami and the tournament at Hilton Head Island in South Carolina, held the week after the US Masters.
"We're not moving to a different business model, but we have a couple of situations where there's sufficient funding in the marketplace to carry us into title positions," Finchem said.
"We have a long way to go, but the strategies we've employed seem to have been working.
"The players have done their part, and we continue to be able to maintain somewhat of a growth curve in this down economy."
Finchem expressed delight in a 2010 PGA Tour season which has yielded a number of victories by emerging young talents as well as several by the established names.
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