Despite no end in sight to the global economic downturn, golf officials maintain that their lot is safe.
Not so long ago the PGA Tour announced a new schedule that appears to make it impervious to the credit crunch. That was before General Motors, which sponsors two tournaments in America, said it was ending its US$7 million a year deal with world number one Tiger Woods.
Still, despite golf being depending on companies just like GM, confidence is high. Even the Asian Tour believes it can withstand the negative effects of potential sponsors looking to trim their expenses, if not pulling out all together.
Asian Tour executive chairman Kyi Hla Han said in an AFP article that he doesn’t expect sponsors to start running away from the regional tour. In fact, he said the tour will expand to 33 tournaments in 2009, compared to 22 this year, with US$42 million in prize money. He said:
“I’m having problems getting dates for tournaments. So I think we’re still giving some value for money in our events, even from the banks. So even the banks have shown no signs of wanting to back down, not to the promoters and not to me.â€
Next year’s Asian Tour will feature three new tournaments, two in Thailand and a first-ever Asian Tour event in Europe – the Omega European Masters in Switzerland.
Asia will also host several events co-sanctioned by the European Tour, which is also launching its Race to Dubai that is worth US$20 million.
Asian golfers will go to 11 countries next season including major markets such as China, India and Indonesia, all of whom seem to be putting more money into such events.
Whether Asia stays immune over the next 12 months remains to be seen. But if the region’s golfers share Han’s optimism, then Asia is ready for a bumper year on the tour.
