Off-course earnings and endorsements lure players
Golf is often viewed as an expensive sport because it offers hefty sums of cash to winners and star performers — but the reality cannot be further from the truth, as players not only earn millions on the course,
but they also enjoy their off-course endorsements.
Players generally viewed as star performers in golf are the ones making millions.
Apart from the prize money that is offered in tournaments affiliated with different Tours, players can reel in big sums of cash through bonuses, endorsements, appearance fees, advertisements, corporate tours
and contracts with companies that generally require a player to use their brands.
Former world number one Tiger Woods grabs the most attention when it comes to off-course earnings. Woods not only boasts a solid profile that reflects his stunning accomplishments on the course, but his endorsements
and other off-course earnings have also helped him eclipse the popularity of most of the star performers in the history of golf.
Golf World magazine conducted a survey a few months back, seeking to find out which player is on the top when it comes to off-course earnings. The survey found Tiger Woods to be the player who has increased
the endorsement spending for the sport.
Reaching an all-time high, golf endorsement spending touched a whopping $400 million globally — and Woods certainly had a big part in that development.
PGA (Professional Golf Association) Commissioner Tim Finchem shared in one of his interviews that the endorsements and other off-course money make up a substantial proportion in a player’s overall earnings.
He said that this trend has only helped the Tour officials gain more media attention, publicity and a big increase in fan-following.
Finchem went on to say that some players boast good reputation in the sport, which helps them connect to the outside world, and then money starts flowing in.
“The reputation our players have developed is fundamental to everything we do. It gives us an edge in the marketplace,” PGA Commissioner said.
The trend is almost the same on the LPGA (Ladies Professional Golf Association) Tour, as plenty of new faces have emerged thanks to good performance and media attention. For instance, South Korean Na Yeon Choi
recently signed an endorsement deal with Srixon.
“I am very excited to sign with Srixon, which is my first endorsement deal with any club maker since I turned professional," Choi had said after the signing ceremony for the endorsement deal. “I've always had
a great impression of Srixon clubs, as well as their technical capabilities. I'm looking forward to working with Srixon to achieve great results on tour".
The LPGA Tour has made headway over the past few years, and this has brought players plenty of opportunities to earn money not just on the course, but also off the course.
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