Global Edition

World Golf Tour Proposed with Massive Prize Money

11.30pm 21st May 2018 - Sponsorship - This story was updated on Tuesday, May 22nd, 2018

While nothing official has yet been released, the launch of the new Golf Tour is reported by Reuters, GolfWeek, and SportsBusiness Daily

Andrew Both of Reuters reports that ‘the World Golf Series’, as the circuit proposed by the British-based World Golf Group is called, has been in the planning stages for more than a year.

Tonight’s European Tour Website has no mention of the proposal

The group hopes to stage 15-to-20 yearly tournaments around the world, each offering a purse of close to $20 million, according to sources familiar with the plans.

Such a figure would dwarf the prize money currently on offer on the game’s richest circuit, the U.S. PGA Tour, whose biggest purse this season is $11 million.

Several blue-chip sponsors are believed to be on board for the World Golf Series if top players can be signed.

Organisers, however, are understandably reluctant to release details while they are still in the sensitive negotiation phase with agents, players, sponsors and television companies.

“It would not be appropriate to make a comment at this time,” the World Golf Group, whose Chief Commercial Officer is Richard Marsh, said in an email to Reuters.

A leading player says he and other top professionals are aware of the proposal.

“Why would you not be interested — 18 tournaments for $20 million?” the player, speaking on condition of anonymity, told Reuters.

But the new tour faces major hurdles, not least that it is likely to meet staunch opposition from the PGA Tour, which will hardly be pleased by the prospect of a rival circuit siphoning off its best and most marketable talent.

The new tour is also unlikely to be sanctioned for world ranking points, which could on its own make it a non-starter.

Ranking points are used to determine eligibility for the four major championships, which are not run by the PGA Tour. Player contracts are also dependent on their world ranking.

“Every player’s deal is centered around world ranking points,” leading British agent Andrew ‘Chubby’ Chandler, who is aware of the proposed World Golf Series, told Reuters. “This series will never get world ranking points, so it will cost people money in the end. I think there are a lot of obstacles to get over. The cards are stacked against them if they don’t get six of the world’s top 10 players to sign up.”

The series sounds eerily similar to the world tour proposed by then-number one Greg Norman more than two decades ago — a plan that went nowhere after the PGA Tour played hardball.

It divided and conquered by issuing an “us or them” ultimatum, threatening to scrap the membership of any player who signed up for the doomed venture.

European Tour www.europeantour.com

PGA Tour www.pgatour.com

       

You can see the latest news letter here.

Follow us on Twitter and LinkedIn.            

Use the tabs above to select the section(s) which you wish to search.

Enter the name of the person, place, organisation or topic for which you are searching. Use as many words as required - there is no need to enclose them in quotation marks. Prefixing a search term with a hyphen/minus-sign will exclude results matching that term.

For example 'artificial -turf' will return results containing 'artificial' but not 'turf'.

In each month and year listed below every article that has ever appeared in golfbusinessnews is reproduced in reverse date order.