Holyake Was Very Good To The R&A In 2014

The Telegraph's Alan Tovey analyzes the R&A's annual report and says the combination of Rory and Hoylake meant a strong 2014 financially.

Tovey writes:

R&A Championships’ turnover in 2014 rose by 6pc to £60.7m as the prospect of the golfing prodigy triumphing drew vast crowds to the event at Royal Liverpool Golf Club.

More than 203,000 fans attended the event during practice rounds and the four days of play, when McIlroy’s 17 under-par total saw him win by two shots. The attendance was 60,000 higher than the previous year’s event at Muirfield, Scotland.

But the shareholders must brace for a downturn in 2015 with an Open at St. Andrews and the costs associated with "rebranding" (much improved Open Championship logo debuting).

“It is anticipated that the trading result for the company in 2015, when the Open will be staged in St Andrews, will be slightly lower than 2014 because, whilst St Andrews is traditionally a venue which generates strong revenue, it is anticipated that there will be additional expenditure incurred in further upgrading the event, particularly with regard to enhancing the spectator experience and as a consequence of rebranding,” the directors said.