Tiger Woods & the PGA Tour

This research assesses the economic impact of Tiger Woods on the PGA Tour. The PGA Tour is a separate entity from the PGA (Professional Golfers Association). The PGA Tour is the public operational name of PGA of America.

Measuring the Economic Impact of Tiger Woods' Participation in the PGA Tour on the PGA Tour's Financial Operations

PGA of America, operator of PGA Tour, was founded in 1968, when professional golfers separated from the PGA, which is dominated by golf professionals. Members of the PGA Tour are golfers who play in the tournaments. The formation of the PGA Tour occurred when the PGA Tournament Division broke away from the PGA ("PGA, PGA Tour Not the Same," 2001).

PGA of America sponsors the PGA Tour, the Senior PGA Tour, and the Nike Tour. PGA of America also owns the PGA European Tour (Yasuda, 1998). This focus of this research is the PGA Tour. PGA of America, owner of the PGA Tour, does not control Grand Slam tournaments, which are not included in the PGA Tour ("PGA secures $850 Million TV Deal," 2001).

The focus of this research is the economic impact of the participation of Tiger Woods in the PGA Tour on the PGA Tour financial operations and position. Primarily, therefore, the focus of this research is the impact of Tiger Woods' participation in the PGA Tour on revenue generation by the PGA Tour organization. Within this context, factors such as media advertising expenditures and even ticket sales are peripheral issues, as they do not exert a

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guson, 2000). As Tiger Woods joined the PGA Tour in 1996, measuring the economic impact of his participation in the PGA Tour on the financial operations of the PGA Tour requires the comparison of PGA Tour financial data before and after 1996. The period of data analysis applied in this research is 1990-2001. The Impact of Tiger Woods' Participation in the PGA Tour on the Value of PGA Tour Television Contracts PGA Tour revenues derive from five primary sources. These sources are (1) tournaments, (2) television, (3) tournament players clubs, (4) licenses and marketing, and (5) interest and other. The contributions to total revenue by source in 1996 was as follows (Johnson, 1997): Tournaments 32 percent Television 30 percent Tournament Players Clubs 24 percent Licenses and Marketing 9 percent Interest and Other 5 percent By 2001, television was the largest contributor (40 percent) to PGA Tour revenues. Further, licenses and marketing are growing in importance as revenue sources for the PGA Tour. The popularity of Tiger Woods enabled the PGA Tour to negotiate television broadcast rights packages with six networks for the 2003-2006 period. The contracts with ABC, C

Category: Economics - T