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Leagues and Governing Bodies

PGA OF AMERICA DISPUTES GOLF DIGEST FIGURES ON CUP PROCEEDS

          The furor over paying players for participating in the
     Ryder Cup was largely fueled by Steve Bailey's report in
     GOLF DIGEST which shows that the PGA of America could earn
     $63M in revenue from this year's event in Brookline, MA, on
     September 24-26.  Bailey calls it the "ultimate cash cow." 
     NBC will pay $13M for the rights to televise the event, an
     increase of $4.5M from '95, and eight advertisers are paying
     up to $2M each to sponsor the broadcast.  There will be 59
     corporate tents at The Country Club at a total cost of
     $16.3M.  Individual tents range from a "bargain-basement"
     price of $250,000 (including 100 tickets) to $500,000 for a
     "deluxe model" (including 250 tickets).  There will also be
     around 200 corporate tables for ten at a cost of $50,000
     each, generating about $15.6M.  Merchandising will account
     for roughly $8M, food and beverages for $2-3M and program
     advertising $2M.  Organizers have already sold the 30,000
     tickets to the event, and in addition to the tickets to the
     corporate tents, tickets sales have generated $5M.  Overall,
     with total gross revenues of $63M and projected expenses of
     $38-40M, the net profit for the PGA is expected to be around
     $16.5-17.5M (GOLF DIGEST, 9/99 issue).
          BUT NO? PGA of America CEO Jim Awtrey disputed the
     report and said that the organization would take in "just
     under" $50M.  Awtrey noted that $12.5M would go to the Ryder
     Cup Outreach Program, which benefits golf programs for
     youths and minorities, and $8M would "return" to the PGA for
     "what furthers the mission of the PGA and these programs
     that we're doing now" (PHILADELPHIA INQUIRER, 8/12).

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