Sports Business News – the place to go to understand the economics of sport – reports that Tim Finchem admits the PGA Tour will lose title sponsors and other endorsers:
“It’s possible we could lose a couple of events; it’s probable that we’re going to lose some sponsors,” Finchem told the media on Wednesday, as reported by Reuters.
US carmaker Buick, a brand of General Motors, pulled its title sponsorships on the tour last month, resulting in the loss of two events, although a new home was found for Michigan’s Buick Open at The Greenbrier course in West Virginia.
“You lose a title sponsor to an event and you can’t keep that particular tournament going,” said Finchem.”
I’m sorry, but how do all those tournaments without title sponsors do it? The Masters? The British Open? The Greater Greensboro Open, stop me any time. You know, there used to be a tour without title sponsors. Maybe you just need to think outside the box more. I thought a smart B-school grad like you could come up with a creative solution…
He then went on to offer one of those patented, meaningless Finchem headscratchers that makes everyone head for the bathroom when he comes on the tube for a canned interview…
“Although marketing budgets were down, and this would “take a while” to improve, business attitudes to sponsorship had now become more “forward-looking”.
“The doom and gloom has largely been replaced by very strong concern about the existing economy but a much more forward-looking focus … which allows you to get some business done,” he said.”
Okay, well we’ll just let you get back to that. Sounds like you’ve got a good thing going there:):)
Next, Nike shows exactly how much they are burying their head in the sand over Tiger’s Almighty crash:
“I think he’s been really great,” Knight says. “When his career is over, you’ll look back on these indiscretions as a minor blip, but the media is making a big deal out of it right now.”
Finally, the Guardian has the best rehash of the economics and fallout.
“Tiger Woods’ self-imposed exile from golf is the most stunning – and stunningly rapid – fall from grace in the history of sport. Not since Shoeless Joe Jackson was banned from baseball after being dubiously blamed for helping throw the 1919 World Series have we seen such a supersonic transition from heroism to heel. And not since Michael Jordan retired from basketball in 1993, following the murder of his father, has a world-class athlete voluntarily taken himself out of his sport in his prime. Woods’ exile may last three months or it may last three years. But one thing is certain: unlike the 24-hour, wall-to-wall sleaze that’s dominated the airwaves since the initial revelations of Woods’ infidelity, this is actual news. After 14 years of being protected by the press, the Tiger has become carrion.”
Meanwhile, here is your snort-worthy laugh of the day. Look what Dubai had to say:
“And Mohammad Juma Bu Amin, the chief executive officer of Golf in Dubai said in a direct statement to Tiger: “We are with you in this difficult time and respect your request for family privacy. As and when you decide to return to the circuit, you can always count on us…. We will be more than delighted to welcome you to Dubai. Consider Dubai your second home.”
Pot? Meet kettle…
The Guardian finishes with a flourish:
“So here is Tiger Woods in 2010: no tour, a busted marriage, and alone with nothing but his sweatshops to keep him warm.
This is what we call chickens roosting. The least attractive part of Woods’ persona – including all his recent peccadilloes – is his complete absence of conscience when it comes to peddling his billion-dollar brand.”
