PGA TOUR SEES MORE THAN $30M PAPER LOSS IN BUY.COM DEAL

          Volatile trading on Wall Street has led to a drop in
     the value of the PGA Tour's investment in Buy.com, which
     secured title sponsorship of the Tour's developmental series
     this year.  GOLF WORLD's Sirak & Rosaforte report that
     Buy.com gave the Tour 1,125,000 shares of stock as part of
     its deal, and the stock "hit a high" of $35.4375 per share
     on February 8, meaning the PGA Tour's holdings were worth
     $39,867,187.  Since then, Buy.com "has been goodbye.com," as
     the stock closed at $5.375 per share last Friday.  That
     devalued the PGA Tour's stake in the company to $6,046,875,
     a paper loss of $33,820,312.  The Tour did receive $6.4M
     from Buy.com for the title deal, another $8.5M "up front
     upon completion of the public stock offering," and a letter
     of credit for another $17M (GOLF WORLD, 4/21).  Shares in
     Buy.com closed yesterday at $6.375, meaning the Tour's
     holdings are currently worth $7,171,875 (THE DAILY).