Chung Mong-Joon Launches Bid For FIFA Presidency NFLPA Planning To File Special Injunction In Brady Case Bettman Addresses Expansion, League's Strength IndyCar President Derrick Walker Steps Down Judge Orders Brady Lawsuit To Be Heard In N.Y. Kraft Finds His Inner Maverick Over Deflategate Platini Confirms Candidacy For FIFA President Kraft Blasts NFL For Handling Of Brady Suspension Brady Destroying Phone Key To Upholding Ban Brady, Goodell Prepare For Court Battle
SBD/Issue 244/Leagues & Governing Bodies
Deutsche Bank CEO Seth Waugh Criticizes PGA Tour's Rising Purses
Published September 9, 2009
|Waugh (c) Says There's Pressure On PGA Tour
To Reduce The Purses It Demands Of Sponsors
NO THOUGHTS OF REDUCING BMW PURSE: BMW North America President Jim O'Donnell appeared on CNBC this morning from Cog Hill Golf & Country Club in Lemont, Illinois, in advance of tomorrow's start of the PGA Tour BMW Championship. The purse for the event is $7.5M, and CNBC's Phil LeBeau said there has been a “fair amount of talk about the purses becoming too extravagant, especially in a down economy.” LeBeau: “Have you ever thought to yourself, 'Maybe we need to rein this in? Maybe this is not the best expenditure of our money.'" O'Donnell: "No, not really because the other side of the coin is we will generate something like $3.3(M) -- at least that's what we did last year -- for charity” ("Squawk Box," CNBC, 9/9).
IT STARTS FROM THE TOP: The GLOBE & MAIL's Bruce Dowbiggin noted with the PGA Tour "struggling every time Tiger Woods skips a tournament and both the LPGA Tour and Champions Tour in serious financial straits, some wonder if limited-field formats of the top stars would work best to draw eyeballs to the tube." One source said that the idea is "gaining popularity." The "Tiger-effect" has created a "de facto two-tier tour." With TV cameras "following almost every shot by Woods, there's simply not that much time in a broadcast for other players," and when Woods and Phil Mickelson are not playing, "viewership drops." Dowbiggin: "So while they'd never say as much, TV networks would likely embrace stars-only fields" (GLOBESPORTS.com, 9/7).