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SBD/January 24, 2013/Leagues and Governing Bodies
USGA's Mike Davis, Glen Nager Discuss Roles In Shaping Future Of Golf
Published January 24, 2013
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ALWAYS BE PREPARED: Diaz notes Nager is "sensitive to charges that the association lost its way looking for funding through measures like partnering with companies such as American Express, Lexus and Chevron." The USGA has a $274M investment portfolio for "possible legal battles and emergency funds in case something like a natural disaster threatens the staging of the U.S. Open." It has separate deals with NBC, ESPN, Golf Channel and "international outlets to broadcast its championships, generating a combined" $40M a year. Nager said, "What we are trying to do is make sure that we have the resources to invest in the game of golf. Our investment portfolio is not there to make anyone wealthy. It's there so that when we have to make a move when somebody challenges us, we have the resources to defeat them, to put it bluntly" (GOLF WORLD, 1/28 issue).
CHARTING HIS COURSE: GOLFWEEK's Adam Schupak notes PGA of America CEO Pete Bevacqua is "just settling in to his new role, and said he is in the early stages of developing a strategic plan." For now, Bevacqua is "content to listen, learn and formulate a long-term strategy." Yet he "isn't shy when discussing his interest in returning the PGA Championship to the West Coast" (GOLFWEEK, 1/25 issue). SPORTSBUSINESS JOURNAL's Michael Smith this week profiles Bevacqua in a front-page piece. Bevacqua in his first two months since replacing Joe Steranka has "brought a loose and relaxed approach to the PGA of America’s top job" (SPORTSBUSINESS JOURNAL, 1/21 issue).