Funding a Jr. Golfer

[kekoa]

Ok, I'm not talking about some ball and club deal from OEM's. I'm referring to some well to do individual who basically pays for a juniors golf expenditures for a season. I've heard a few accounts recently, which I was pretty surprised by. One in particular is a 9 y/o girl. Her parents are members at a local country club and from what I understand, the dad got paired up with another member and started talking about family, kids, etc. Eventually, the girl and her golf got mentioned. The other member offered $10K/yr to cover golf entrance fees, lessons, etc. He also offered to cover air fair if necessary.

 

Is this type of thing that common or am I just hanging out with the wrong people?

[Skaffa77]

Stu - Maybe that's a Cali thing...I've never seen that happen in the Midwest...in fact if I did get that offer from a golf member, I would think the guy was screwing around. Now...a similar offer from family members who are well off is a different story...

[tiger1873]

junior golfers get their money from parents and investments. The best way to fund golf is go out buy some real estate where it’s cheap and has good return when you rent it out. With cheap money you don’t need much down.

If you belong to a club you can usually get into some good investments with members like say a franchise deal and get killer returns.

[tiger1873]

I should also add I heard of arrangements where club members will fund a junior (over 18)who turns pro and needs money to be on tour. in exchange for future earnings would not want to get involved in that deal.

[hangontight]

Wow. Is this in hopes of some kind of payback? We’ve obviously all heard of friends and family pulling together funds to support a promising young adult trying to make it pro, with a dividend/payback schedule - even then I don’t think anybody looks at it as a real promising investment.

mother-in-law bought my son a golf new bag last year- I was thrilled. Every once in a while the guy at our local Muni gives him a free bucket of balls- That’s the extent of our sponsorship.

[leezer99]

Yes, this happens quite often. Just spoke to a mom the other day who's son is now on the McKenzie tour that was receiving a personal sponsorship to play from a well off family. I've also heard of some horrible situations where a guy will 'sponsor' a player but then has control of his tournament schedule.

[kekoa]

From my understanding it is a 'no strings attached' deal and he has done this for a year now.

[Kcct82]

Sometimes you just get honest free stuff from people. My friend’s 6 year old got air fare (international) and a new golf bag from a business owner who happens to like golf.

[tiger1873]

Are you it isn’t a charity scam lot’s people use junior sports as way to funnel extra tax deductions.

Of course there are legitimate schools and organizations out like the AGJA grants there that has money but you have to qualify for them.

[wildcatden]

I've heard of these types of stories here and there. Sometimes different variations of it. For example, I have heard of teaching pro's donating their lesson rates/fees to juniors that they see as top talent. There is a private country club near me that offers free membership to juniors who apply (limited number of spots). Also, if the junior is good enough (generational talent like a Tiger), I would think people would come knocking at the door with offers and opportunity.

[kekoa]

If a country club member says, 'Hey, I'd like to help your child on their jr. golf journey.' Here is $10K and best of luck.

Not sure I'd say hold on buddy, are you trying to hide money from the IRS? That's just me though.

[hangontight]

Hey. There are good people out there who have money to burn and get genuine satisfaction from helping people who have passion and exhibit willingness to work hard. The challenge may be sustaining the proper expectation for all involved that it’s a young kid that could lose interest/burn out ant any point if pushed too hard too young. If I was fortunately to have someone chipping in I would be Careful- that the more people that are vested or paying attention, naturally the higher the expectations become and pressure to keep it all up (for the kid and the parent). I am open with my kids about finances, but at 9 years old I may leave out the fact Bob from the club chipped in $10 grand- they are plenty smart at 9 that they would connect the dots and probably feel a little extra squeeze.

[tiger1873]

It is always possible some people are just happy to promote kids but I have belonged to more then 1 club and the members are never usually that nice. Usually if someone likes you they will help you out by letting you in on a private placement or perhaps pre-ipo stock that make you a ton money.

There is always a deal going on. In clubs some good and not to good.That is how a club helps you. In some cases they might forgive dues and initiation which in itself is a big gain.

[BFD3]

I think this is how Zach Johnson survived when he first started out.

[darter79]

Well I need better friends or to move to Cali. Geez we play more travel events if someone else was funding. But like others I’d be a be hesitant to just take 10k and go, unless that was a family member funding it. She lucky to get a sleeve of golf balls.

[hangontight]

I think this is fairly common.

[wildcatden]

 

 

According to the IRS, someone can gift you $15K/year without paying gift tax. ;-)

[darter79]

are you offering ?

[tiger1873]

yes that is true but who does that unless it is family. I have seen a few charities set up around juniors in sports where they raise money for charities and looked very suspect to me.

of course the charity pays for the junior to play sports and any left over money is supposed to be paid to the cause.

That being said 100% of the money donated is a tax deduction. That being said done correctly I am pretty sure they can maximize those deductions to make money off the deal.

i could see getting money for scholarships to attend private schools because that is usually legit and sort of make sense. I have a hard time believing anyone just writes a no strings check unless there looking for something.

a lot very wealthy people have charitably remainder trusts and have to give a certain amount to charity every year to avoid the trust being taxed.

 

[wildcatden]

 

I was hoping you would offer. It's certainly not going to be me unless I win the lottery.

[chrissdc]

Not really on topic, but I have heard of some aspiring LPGA women/ladies with a Sugar Daddy arrangement.

Some have actually made it to the LPGA, but never really made it.

[hangontight]

Another thing not mentioned is the funding of some internationals, reportedly by their governments. Maybe it’s an inaccurate rumor , but seams feasible given the international travel schedule for some of these younger kids , notably from some Asian countries. We’ve all heard stories of how young some of the young Olympian’s are 365 days a year driven.

[TripleBogeysrbetter]

My juniors are funded by me.

We control the amount of travel and which tournaments will give the most exposure. I would say with my son its a 60/40 split on decision. He can pick the tournaments and we agree or not.

Only clubs for this year are new wedges.

Daughter is a WIP. She cant decide if she wants to be serious or just be a social thing, so the money is limited.

[hattrick23]

I have not heard of an amateur (young teen) getting money to play junior tournaments unless they were from a foreign government. My son played in some high level amateur tournaments when he was in college (i funded all his travel and entries) that had Austrailan friends that were given $20,000 for the summer to travel and play tournaments. They also setup a week long practice sessions in a US city where all Australians attended and received instruction from top level instructors. What a great program. We have also heard many top college players when graduating have received money to make it in the pro world (my son included) and the sponsors receive access to large portion of the tournament winnings for a period of time. These deals are usually individually negotiated so details can differ quite a bit. Golf is so expensive to get started that it is the only way to get started in a career in golf. We are grateful for the help my son does receive as are many of his fellow "dreamers".

[tiger1873]

The money from other countries is why is driving the price of everything up in junior golf. Had one foreign parent brag how he never had to pay for tournament and he hated the cheaper ones. His kid got free private school (80k) he also was allowed to also get free money to see his kids and stipend to live. All of this was for olympics and the worst thing is the kid wasn’t even that good because they were from a South American country.

what is bad is these kids all fly here take up spots in tournaments and treat you like you an idiot for paying for your kids. These kids are not amateurs like our kids their professionals and bring all the problems with them.

honestly though I like the freedom we have by just doing it the old fashioned way and just paying it ourselves. If my kid gets hurt or sick I can just not do a tournament and know one cares.