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World Series Of Golf
CEO Terry Leiweke |
TERRY LEIWEKE is presumably the only exec in the sports industry to hold an NCAA record (number of extra points kicked in a single game) and own a film on permanent display at the Kennedy Space Center ("Eyes On Venus"). The 59-year-old with the infectious laugh and recognizable last name helped launch numerous entities including the Major Indoor Soccer League, N.Y.-based SportsView Productions, Leiweke Holding Co. and most recently, World Series of Golf Inc. The second iteration of the golf/poker event will air this weekend on CBS. Leiweke spoke earlier this week with SportsBusiness Journal Staff Writer Jon Show.
Residence: I split time between East Hampton, New York, and Las Vegas. I hope to see a little more of the East Hampton side this year.
First job in sports: Worked part-time for ABC Sports in college; first full-time job was at The Summit in Houston.
Q: How does the WSOG work?
Leiweke: It’s a patent-pending method of play with three bases to its business. It has land-based events, media events and an online game. The events that we currently operate are in Las Vegas and have a $10,000 buy-in. We have a wide variance of skill level, which makes us kind of unique. There are no handicaps. Sixteen players, like an NCAA bracket, will yield you a finalist into our event. It’s a three-day single elimination event. On day three you end up with five players in the final. You randomly select the hitting order and you only play against the members in your group. It’s an automatic ante -- 1% of your purse -- on the first tee. The antes double every three holes. After you hit your tee shot the person with the button leads the wagering. If you don’t like your shot you can fold and move to the next hole. The objective is to take the money out of everybody’s purse.
Q: How did you get the idea for the WSOG?
Leiweke: A couple of guys in Las Vegas, in one of those classic moments where you wake up at two in the morning and grab the pen and paper next to your bed. The emergence of the World Series of Poker was happening at the same time. These two gentlemen put the concept together.
Q: Explain how you and your brothers got started with the MISL in the ‘80s?
Leiweke: When I was at The Summit we had a WHA hockey team with GORDIE HOWE and his two sons. When the WHA merged with the NHL, the owner did not make an application and we ended up with 42 available dates in our building. We had seen (an indoor soccer) game played at the Spectrum in Philadelphia. It was pretty spectacular. We founded a league with six initial franchises called (MISL). I reached out to all of my brothers and we collectively did franchises in Baltimore, St. Louis and then eventually all of us ended up in Kansas City where we did the Comets.
Q: Your brothers have maintained a sports focus but you’ve skated in and out. Why is that?
Leiweke: I think they’re more acclimated to front office positions. They’ve ended up with two gentlemen in private entities that have provided this financing mechanism that has allowed them to expand the ambitions of the ownership. TRACEY and I are a little more entrepreneurial. … It’s kind of a quirk in personalities of the individuals. I have basically worked for myself after The Summit. It’s a hard thing to step back into the water cooler environment.
Q: Any lessons learned back in indoor soccer that you still use today?
Leiweke: It’s all about the fans. One of the most interesting things about the indoor soccer was there was no precedent for how to present an event. And that’s where we really excelled. We were the first guys to turn the lights out and do laser light shows. One of the keys was we had to put people in the building and entertain them over and above the actual playing of the event. Presentation is something you learn a great deal about. That has extended throughout our lives in this industry.
Q: Any good stories about you and your brothers that we haven’t heard?
Leiweke: (Laughs). You’re column isn’t long enough. There’s many. I’ll just say this: My brothers and I are intense, competitive individuals that are very close. The one place you never wanted to get in between the Leiweke brothers is any backyard competition. My brother TIMMY is probably still pulling thorns out of his tail end where I hip checked him into a rose bed one day in Tracey’s back yard. He got up and we played on.
Q: So it’s probably a good thing that they banned the use of lawn darts?
Leiweke: (Laughs). That competitive environment has expanded into all kinds of interesting applications in this world.
Q: Which one of you wins in a competition like the World Series of Golf?
Leiweke: Tracey. He’s probably the best athlete in the family. He’s an incredibly gifted natural athlete that spends quite a bit of time kayaking in the ocean, skiing off the top of mountains. … He has a passion for golf like none of the rest of us.
Q: What is the order of the siblings?
Leiweke: There are four boys: Tracey, Terry, Timmy and TOD. And two girls: TRISH and THERESE. Those poor girls. We used to play a thing called knee football and the girls were always the running backs on their knees and we were always the defenders. Anytime our parents went out and we were babysitting, the girls shuddered.
Q: What’s with all the “Ts”?
Leiweke: Can’t really tell you. I guess because we were poor and you could buy one sweater, put TL on it and pass it through the whole family.
Q: The Leiweke brothers versus the YORMARK brothers in a battle for sports industry domination. Who wins?
Leiweke: (Laughs). We’re bigger than they are. I love the Yormarks, and what I love about them is their work ethic. … I have a huge amount of respect for their family and what they stand for. I just think there are more of us.
