FedEx Delivery: Finchem Earned $5.2M in '06, Up $1M From '05
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Filings Show Finchem Received
Bump In Salary In '06 |
PGA Tour Commissioner Tim Finchem earned $5.2M in '06, up from $4.2M in '05, according to recent tax filings cited by Jon Show of SPORTSBUSINESS JOURNAL. Finchem and other Tour execs received compensation from PGA Tour Inc., the nonprofit organization which oversees the PGA Tour, Champions Tour and Nationwide Tour, and from PGA Tour Holdings Inc., the wholly owned private subsidiary that manages the network of TPC courses. Finchem received $3.9M income from PGA Tour Inc., consisting of $922,500 in salary and almost $3M in "incentive bonuses," up from $3.16M in '05 and $3.05M in '04. PGA Tour Holdings paid $1.3M of Finchem's salary, up from $1M in both '05 and '04. For "accounting purposes, the two entities also recorded more than $1[M] in benefits payable after Finchem's retirement," down from more than $2.5M in '05. PGA Tour Exec VPs & co-COOs Ed Moorhouse and Charlie Zink were the "next highest paid tour employees," each earning $1.3M from PGA Tour Inc. and PGA Tour Holdings (SPORTSBUSINESS JOURNAL, 1/7 issue).
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