TWC Could Seek Record Fee For Dodgers RSN Golf May Be Nearing World Tour KKR Withdraws IMG Bid Finchem Open To Global PGA Championship Bornstein, Shapiro Advising Competing Bids For IMG Is New PGA Tour Schedule A Success? CAA Out Of Hunt For IMG Second Round Of Bids For IMG Were Due Thursday PGA Champ, Players Bump Purses To $10M PGA Tour Fights Singh Lawsuit
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GOLF REMAINS AT IMG'S CORE, DESPITE DIVERSIFICATION
Published March 19, 1996
Golf is "at the core" of IMG's identity, with sources saying golf activities account for about $200M of IMG's annual revenues, according to a GOLFWEEK report. IMG execs have "been reluctant" to put a dollar value on their golf business because it overlaps into other IMG activities, including TV and event promotion. In '90, golf accounted for 18% of IMG's $700M in revenue, but Alastair Johnson, IMG's head of Worldwide Golf, says the "absolute dollars" golf generates has increased, but the percentage has dropped due to diversification (Adam Barr, GOLFWEEK, 3/16 issue). OTHER STROKES: CNN's "Moneyline" looked at the "unparalleled success" of the Senior PGA Tour, which began in '80 with two events and $250,000 in prizes and now boasts 45 stops and over $37M in purses. TV coverage has tripled since '87, a fact advertisers "cannot ignore." BBDO's Stephen Grubbs remains optimistic the Tour will continue to prosper: "Golf is one of the hottest sports in the country and it has a unique target audience, so for the foreseeable future, I don't see that well running dry" (CNN, 3/18).... The management contract for The Skins Game has been awarded to Palm Desert, CA-based ViP Golf Services. OCC Sports Inc. and Transworld International, an arm of IMG, promote the event as a joint venture (GOLFWEEK, 3/16 issue).