The PGA Tour formally announced that CA-based Internet
retailer Buy.com is taking over title sponsorship of its
developmental golf tour from Nike, which has held title
rights since '93. The Buy.com Tour will debut in 2000 with
30 events and a total of about $12M in prize money. Under
the deal, Buy.com will donate a portion of its golf-related
Web sales to the World Golf Foundation's grass-roots youth
initiative, the First Tee program (PGA Tour). The AP's Doug
Ferguson reports that the deal is for five years and that
the minimum purse on the tour beginning next year will be
$350,000, a 55% increase over this year. PGA Tour
Commissioner Tim Finchem: "We like the relationship with a
dot-com. It speaks to where we are today in the
technological position of golf" (AP, 10/26).
WHY NIKE'S OUT: Nike Golf President Bob Wood said after
the company's decision not to renew the tour sponsorship:
"We will strengthen our efforts to work directly with the
players on the new Tour. For example, five players that
graduated this past weekend to the PGA Tour depend on us for
their footwear needs." (Nike). Nike Golf Communications
Dir Mike Kelly: "We want to do other things with our
dollars. For example, Casey Martin just won his tour card,
and we want to put some dollars behind him" (AP, 10/26).
