Sponsorships Advertising Marketing

PGA TOUR COULD REAP A $$ WINDFALL FROM BUY.COM SPONSORSHIP

2.14.2000

          The PGA Tour's "bet" on Buy.com to title sponsor its
     developmental tour "looked like a winner" last week, after
     Buy.com's stock nearly doubled in its first day of trading,
     according to Patrick McGeehan of the N.Y. TIMES.  Buy.com
     paid $8.5M "annually" and 1.13 million company shares as
     part of its five-year sponsorship agreement.  The PGA Tour's
     stake in the company peaked at $28.3M this week, eventually
     closing Friday at "about" $24M.  McGeehan notes that the PGA
     Tour's take "rests on the viability of Buy.com, which lost
     $130 million last year," but "if the stock stays at such
     levels" until the PGA Tour "cashes out, the deal my well be
     declared a hole in one" (N.Y. TIMES, 2/13).

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