50 Million Reasons We'll Be Back!

Jon Show reports that the USGA's profits this week should help offset David Fay's bloated salary, and more importantly you would hope the financial windfall ensures a return to Torrey Pines (with architectural, uh, tweaks a must, as is a media center within range of the course).

The U.S. Golf Association is expected to generate up to $50 million in profits during this week’s U.S. Open hosted by Torrey Pines Golf Course, making it one of the most successful Opens of all time.

Total revenue for the tournament should be close to $100 million, including estimates of $20 million in ticket sales, $15 million in corporate hospitality, $15 million in merchandise and $5 million in food and beverage.

That also includes approximately $40 million from domestic and international television revenue. Many of those arrangements include rights to air parts of other USGA tournaments, such as the Women’s and Senior Opens, but media industry sources estimated 95 percent of the value of those deals is attributable to the U.S. Open.

Expenses should be about $50 million based on Opens held at comparable courses.

Comments

[Bob G]

110 pct of the value of the TV contract is the Open. TV has offered to pay more to NOT broadcast the other tourneys.

[MacDuff]

"most successful of all time"

erm...could inflation be anything to do with this?

[Martin Del Vecchio]

$50 million in expenses? For an event that is staffed almost completely by volunteers?

This is absurd. I suggest that the same profit level could be achieved without the sponsors.

[walker]

Geoff,
What makes a salary bloated? You have made it clear that you dislike David Fay, but do you know what his salary really is? I seriously doubt that Fay's salary is bloated.