Economy Hits U.S. Open As Event Fails To Sell Out In Advance
A slump in corporate sales in the sports industry "hasn't spared" next week's U.S. Open at Bethpage Black Golf Course in New York, as the event "didn't sell out tickets in advance for the first time" since '86, according to Adam Schupak of GOLFWEEK. USGA Chief Business Officer Pete Bevacqua said of the economy, "It's shaking up the sports world, the corporate-hospitality world, and we haven't been immune to it." The USGA "expects the tournament still will sell out its daily allotment of 42,500 tickets," but with "less corporate interest, 1,000-1,500 additional tickets became available daily and were to have been released to the public on June 11." The USGA also had sold only 42 hospitality tents through June 2, down from 78 tents when Bethpage Black hosted the U.S. Open in '02, as "many companies participating at the U.S. Open are downsizing, buying a table for 12 instead of a tent for 100." USGA officials insisted that "even with a decline in sales, a U.S. Open held in a major market such as New York still will be a financial success." They added that the event "will generate as much revenue as the 2007 championship at Oakmont, which was held during better times but at a smaller venue in Pittsburgh." N.Y.-based Gilford Securities Senior VP/Research Casey Alexander said that corporations are "taking a pass on sponsoring golf and predicts the trend will continue for a while." Alexander: "Golf has a high boondoggle factor at a time when everyone is afraid of shareholder reaction." Schupak notes the USGA's four major corporate partners -- IBM, RBS, Lexus and American Express -- "as well as Rolex are maintaining their commitment to the championship," though American Express "eliminated client entertainment and is offering activities just for card members" (GOLFWEEK, 6/13 issue). On Long Island, Cody Derespina reports the "lines were long and the registers ringing" at Bethpage Thursday morning as the remaining U.S. Open tickets and merchandise went on sale (NEWSDAY, 6/12).
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