Wells Fargo Not Renewing Contract

[notsohard]

https://www.espn.in/golf/story/_/id/39071992/long-pga-tour-host-wells-fargo-renew-deal-2024#:~:text=CHARLOTTE%2C N.C.,with a %2420 million purse.

Edited January 12 by GwrxMod

[chillybilly]

Just read the story was about to post same from the Observer

 

https://archive.ph/wHfjW

 

Obviously a title sponsor is a virtual necessity given the purse but WF has become a figure of mockery even outright hostility due to the still-outrageous 'phantom account' scam. As a large employer they have an inevitable amount of 'churn' ie turnover but the churn has been considerable in recent years and word of mouth from ex-employees is withering. In my opinion it began to affect attendance and enthusiasm including from those who had volunteered in years past.

 

You can only laugh at the 'we occasionally review our marketing' blather.

 

Unless BofA step in (unlikely) I don't know what the future might hold. The pros seem to like QH and a stop in the Charlotte market makes sense in terms of timing/weather/routing although the shift of the PGA Championship has affected players' ability and/or desire to play QH. Still, the 2025 PGA Championship will be at QH and it's hard to see the Tour abandoning the venue. But...places like Oakmont host majors but not Tour stops so who knows?

[golfortennis]

WF's ethical issues aside, at what point does the ROI not make sense with a tour event?  Outside of a CEO totally committed to it, the number has to be close for a very large number of companies and their current events.  

[Maine Golfer]

The signature events may backfire, smh. What an era 

[DE-ILLINI]

PIF knows exactly what they are doing.  Poaching Rahm right before agreement deadline and pricing out PGA Tour sponsors.  Players think this is about reshaping the game and less work.  A bunch of pawns (albeit well paid) in a bigger geopolitical game.  Once PIF is in, LIV is completely irrelevant and will be discarded for something that will bring a return on their investment.

Edited December 9, 2023 by DE-ILLINI

[Valtiel]

24 minutes ago, DE-ILLINI said:

PIF knows exactly what they are doing.  Pouching Rahm right before agreement deadline and pricing out PGA Tour sponsors.  Players think this is about reshaping the game and less work.  A bunch of pawns (albeit well paid) in a bigger geopolitical game.  Once PIF is in, LIV is completely irrelevant and will be discarded for something that will bring a return on their investment.

Definitely wouldn't be surprised if there was a longer game in mind like this. 

Btw "poaching" is what you're looking for there, unless the crown Prince is a marsupial 😂

 

[DE-ILLINI]

Ugh.  Corrected!

2 minutes ago, Valtiel said:

Definitely wouldn't be surprised if there was a longer game in mind like this. 

Btw "poaching" is what you're looking for there, unless the crown Prince is a marsupial 😂

 

Edited December 9, 2023 by DE-ILLINI

[JetSpeed79]

1 minute ago, Valtiel said:

Definitely wouldn't be surprised if there was a longer game in mind like this. 

Btw "poaching" is what you're looking for there, unless the crown Prince is a marsupial 😂

 

This is fantastic. From now on I will refer to anyone still living at home after 30 as “pouching”. 

[Tinkerer]

Dilute the player pool, reduce eyeballs watching, sponsors fall away due value loss and broadcast partners pay less because the product and interest has diminished. 
 

The fans and the game suffers while the administrators look after themselves first and foremost. DP World, Australian tours already less relevant, same with PGA. The game is negatively impacted as a whole and yet the same administrators are focused on the ball! Time for major change atop the multiple bodies accountable for this stuff up!

[PJE]

Not sure I care. I’m over the PGA Tour, the LIV, and the Saudis.  Pro golf is screwed for me as a fan. Ultimately, the Saudis are going to diminish the PGA Tour so it becomes a feeder circuit for the iteration of PIF or LIV or ultimately whatever they want to call their tour(s). 

The Saudis are trying to control golf like they do Formula 1 car racing and my interest has ended.

The atmosphere around pro golf is just so contrived and superficial. All of this stuff is like a big helping of reality TV. 
The USGA is also trying to screw over the thing I love, recreational golf, but that’s a different thread, ha ha. Fortunately, I can concentrate on just playing golf and that’s a nice thing. 

Edited December 9, 2023 by PJE

[elwhippy]

WF will be the first of many if LIV take more star players. Will FedEx stay around if the Tour Champs are full of bland players with no personalities? 

[JetSpeed79]

32 minutes ago, elwhippy said:

WF will be the first of many if LIV take more star players. Will FedEx stay around if the Tour Champs are full of bland players with no personalities? 

Good question, especially considering the tough times the cargo sector is experiencing right now. 

[JD3]

Could be first of many. They won't stick around when viewer count drops. 

[deh]

It’s incredible to me that PGA Tour leadership is still employed. In any company the board would have dismissed the entire team responsible for this mess. Now big $ sponsors are withdrawing support and the valuation of players has been so inflated it’s absurd. Speaking of the board, where are the massive powerbrokers that move mountains? What are they doing after their neutered Senate testimony? 

[kmbean]

2 minutes ago, deh said:

It’s incredible to me that PGA Tour leadership is still employed. In any company the board would have dismissed the entire team responsible for this mess. Now big $ sponsors are withdrawing support and the valuation of players has been so inflated it’s absurd. Speaking of the board, where are the massive powerbrokers that move mountains? What are they doing after their neutered Senate testimony? 

I think Jimmy Dunne is touring with Seal Team 6 to keep us safe at home.

 

“I am quite certain — and I have had conversations with a lot of very knowledgeable people — that the people I’m dealing with had nothing to do with it,” Dunne said. “If someone can find someone that unequivocally was involved with it, I’ll kill them myself. We don’t have to wait around.”

[deh]

3 minutes ago, kmbean said:

I think Jimmy Dunne is touring with Seal Team 6 to keep us safe at home.

 

“I am quite certain — and I have had conversations with a lot of very knowledgeable people — that the people I’m dealing with had nothing to do with it,” Dunne said. “If someone can find someone that unequivocally was involved with it, I’ll kill them myself. We don’t have to wait around.”

😂😂😂 While we all know he’s incredibly powerful he couldn’t manage to keep a hair cowlick down in the halls of Congress. I think most are safe from his weaponized hands.

[Avidswampthing66]

The three B's come to mind when it comes to Wells Fargo.  Backfire, blowhard and blowback.  

[Green Valley]

Why is sponsors names so important now? They have PIF money no need for sponsors now. The PGA can go back to the good ole days and have tournament names under the city name now. LA OPEN, Now it's called Genesis. Make it LA OPEN again. 

[wedgegame]

5 hours ago, Avidswampthing66 said:

The three B's come to mind when it comes to Wells Fargo.  Backfire, blowhard and blowback.  

I always thought the three B's were: beets, bears, and Battlestar Galactica.  You learn something new everyday.

[elwhippy]

PGA Tour events without main sponsors? No corporate sponsorship either? The Tour will implode. 

[CDLgolf]

6 hours ago, Green Valley said:

Why is sponsors names so important now? They have PIF money no need for sponsors now. The PGA can go back to the good ole days and have tournament names under the city name now. LA OPEN, Now it's called Genesis. Make it LA OPEN again. 

 

The tour didn't agree to the deal with the PIF. They had a framework agreement  but havent moved forward. They are looking around for other partners.

[st1800e]

8 hours ago, Green Valley said:

go back to the good ole days

 

8 hours ago, Green Valley said:

Make it LA OPEN again. 

Let’s break out the Time Machine.

[Soloman1]

I’m sure the tour knew that Wells Fargo was not going to continue or was on shaky ground and should have had another one lined up. That’s why they’re paid the big bucks - to sign sponsors.

 

The announcement should have been a change in sponsors.

 

”Hey Jay, your left front tire is ratty and about to blow and you haven’t got a spare.”

 

”I didn’t notice. I’ll worry about it later.”

 

Instead, the discussion is about the end of golf as we know it.

I have a hangnail. Oh no, I can see it now. My arm will have to be amputated and I’ll get sepsis and die in the hospital.

 

 

[Rapidcat]

1 hour ago, Soloman1 said:

I’m sure the tour knew that Wells Fargo was not going to continue or was on shaky ground and should have had another one lined up. That’s why they’re paid the big bucks - to sign sponsors.

 

The announcement should have been a change in sponsors.

 

”Hey Jay, your left front tire is ratty and about to blow and you haven’t got a spare.”

 

”I didn’t notice. I’ll worry about it later.”

 

Instead, the discussion is about the end of golf as we know it.

I have a hangnail. Oh no, I can see it now. My arm will have to be amputated and I’ll get sepsis and die in the hospital.

 

 

 

Jay's paid $14m annual salary + gets a private jet.

 

He therefore must be really, really good at his job - he is isn't he?

[CCTxGolf]

7 hours ago, CDLgolf said:

 

The tour didn't agree to the deal with the PIF. They had a framework agreement  but havent moved forward. They are looking around for other partners.

I think the “looking around for other partners” bit is what has caused PIF to return fire. PGAT can’t get out of their own way.

[Soloman1]

A good example of middle east oil money accounting is the 2022 World Cup:

 

The GDP of Qatar is $186 billion.

 

They spent $200 billion building the stadiums.

 

Qatar took in $7 billion in revenue from the 2022 World Cup.

 

Success!

 

 

 

 

 

 

 

[DoughBack18]

23 hours ago, elwhippy said:

Will FedEx stay around if the Tour Champs are full of bland players with no personalities? 

Couldn’t agree more, and I think this is a huge issue with professional golf at this point. So many of these guys look like robots out there. Even at this Grant Thornton thing, which feels like it should be pretty casual, the players don’t get particularly excited or upset about anything, and very little crowd interaction. These people paid to see you, wave at ‘em, give them a little smile. That moment may be the highlight of someones day, and all it takes is the smallest bit of effort. 

[NormanFan]

1 hour ago, DoughBack18 said:

Couldn’t agree more, and I think this is a huge issue with professional golf at this point. So many of these guys look like robots out there. Even at this Grant Thornton thing, which feels like it should be pretty casual, the players don’t get particularly excited or upset about anything, and very little crowd interaction. These people paid to see you, wave at ‘em, give them a little smile. That moment may be the highlight of someones day, and all it takes is the smallest bit of effort. 

 

Golf and NASCAR have the same problem in that there's a lack of marketable personalities versus the 1990s and early 2000s.  Part of that is due to our existing culture, though, that tears people down for stepping outside of the norm, almost as if the conformity of the 1950s has returned in a weird way.  I want the personalities back!

[mocokid]

12 hours ago, st1800e said:

 

Let’s break out the Time Machine.

Shhhh its the Glen Campbell LA open for the cognoscenti.

[Hankshank]

2024 has the potential to become a really bland year for us guys following tours. If some eastern power is doing the divide and rule on the west they are doing fine in golf. Now what about that for a conspiracy theory.

 

 

Edited December 11, 2023 by Hankshank