International lenders did not disclose specificities, but said it was part of global cost-cutting plansNovember 26, 2015 11:32
Business of Golf
From its inception and subsequent temporary ban in Scotland to its evolution as the sport for business networking, Kipp steps up to the tee looking at the business of Golf.
April 4, 2011 4:21 by kippreport
What kind of the ‘Business of Golf’ would this be without mentioning Tiger Woods? Sure he’s been more of a tabloid fodder now then an athlete but even Kipp can’t deny that he has changed the face of Golf on global scale.
The loss of golf’s biggest cash cow could deliver a financial whammy to the PGA Tour, TV networks, corporate sponsors and other entities that rely on the world’s No. 1 player to drive their business.
Without the so-called Tiger Effect, pro golf could be staring at the Tiger Recession.
He has been world number one since 12 June 2005, and through endorsements and appearance fees earns an estimated $100 million (£62.5m) a year.
The biggest money-loser from the Woods sex scandal appears to be Woods. Corporate sponsors Accenture and AT&T dumped him as an endorser. That will cost him a combined $18 million to $25 million a year, estimates Robert Tuchman of Premiere Global Sports. This is in addition to the halt in plans for the Tiger Woods Dubai golf course that have been in the news recently.
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