In the "midst of an industry slump," many golf
equipment companies "aren't rushing to re-sign players,"
according to Gene Yasuda of GOLFWEEK. Agents and company
execs said that "with profits dropping, some ailing
companies such as Callaway and Cobra simply don't have the
money to keep all of their tour players." Examples given
were Callaway's parting with Jim Furyk and Cobra, which
"said good-bye" to Steve Jones "and plans to bid farewell to
Greg Norman after 1999, when Norman's contract expires."
Callaway also "likely will drop a portion of its Senior Tour
staff." Some companies, including Titleist and Spalding,
"are cutting lesser known players to pay more money to keep
marquee names," and sources say that David Duval "will
receive" a 300% increase from Titleist in '99. Spalding is
"letting go of all but two of its more than a dozen Senior
PGA Tour players ... in search of younger guns to promote
its newly resurrected Hogan brand." Yasuda reports that
"several smaller, fast-growing companies are picking up
these free agents," including Cleveland Golf, Orlimar and
TearDrop Golf. Two-time U.S. Open winner Lee Janzen "is
asking for more money" to continue with Taylor Made in '99,
but the company "wants him exclusively," which is "a problem
because Janzen has a ball contract with Bridgestone and a
clothing deal with Fila." Taylor Made Marketing Manager
Mike Kelly: "If he's going to get more of an endorsement
deal from us, we need to get more from him. Otherwise, it's
a difficult equation." Sources say Janzen is asking for
$1M, up from his current $750,000 deal (GOLFWEEK, 11/21).
