Wells Fargo Not Renewing Contract

MtlJeff · January 13

On 1/12/2024 at 1:28 AM, Creedo77 said:

Korn ferry covers those areas and they really don’t have the infrastructure to host a tour caliber event.

The Norman course in the Bahamas is really nice, and in bad weather can play very tough. I think a Korn Ferry guy shot 100 there once.

But you're totally right, that place has one airport that is basically just a house, and lacks an abundance of hotels, cars etc...

If anyone wants to get an idea, it's where they hosted the Fyre Festival, which became famous for not having infrastructure to host such an event

MtlJeff · January 13

16 hours ago, RobS said:

Yep, golf tournaments have to go when you're in cost cutting mode. Farmers cut 11% of their workforce in '23. Wells cut almost 5% in '23 with more to go in '24 (they set aside $1b for '24 severance packages). In addition to the sponsorship cost, it's obviously not a good look hobnobbing in your own hospitality after telling Wall St, shareholders and employees that major cost cutting is needed.

I largely agree with this, however i do believe the Tour's uncertain position right now also plays a factor. It would be hard to evaluate ROI, until there's some kind of agreement between the tours it's hard to predict what the PGA tour will look like in 2025 or 2026, there could be far less marquee names and big changes in ratings.

I am guessing these places will keep advertising, but there's probably surer bets

ronsc1985 · January 13

13 minutes ago, MtlJeff said:

The Norman course in the Bahamas is really nice, and in bad weather can play very tough. I think a Korn Ferry guy shot 100 there once.

But you're totally right, that place has one airport that is basically just a house, and lacks an abundance of hotels, cars etc...

If anyone wants to get an idea, it's where they hosted the Fyre Festival, which became famous for not having infrastructure to host such an event

The course is part of a Sandals resort on the island of Great Exuma. The island has only about 4000 inhabitants and is only accessible by air or boat. I've played there a few times, The course is really nice. You are right about being tough in bad weather. About 6 or so holes have the ocean either on one side of the fairway or behind a green. A lot of the course is on a peninsula and as such gets really high cross winds even if the weather is sunny.

MtlJeff · January 13

3 minutes ago, ronsc1985 said:

The course is part of a Sandals resort on the island of Great Exuma. The island has only about 4000 inhabitants and is only accessible by air or boat. I've played there a few times, The course is really nice. You are right about being tough in bad weather. About 6 or so holes have the ocean either on one side of the fairway or behind a green. A lot of the course is on a peninsula and as such gets really high cross winds even if the weather is sunny.

Yup exactly, i have played it a few times also, used to go to that resort on occasion! Used to always go to that French restaurant that served steak or Lobster. And i would tell them "Bring me several of each!"

golfortennis · January 13

5 hours ago, MtlJeff said:

I largely agree with this, however i do believe the Tour's uncertain position right now also plays a factor. It would be hard to evaluate ROI, until there's some kind of agreement between the tours it's hard to predict what the PGA tour will look like in 2025 or 2026, there could be far less marquee names and big changes in ratings.

I am guessing these places will keep advertising, but there's probably surer bets

A bit of advertising is a whole different ball of wax from $10 million plus to sponsor an event.

I think the tour overplayed its hand pushing these sponsorships higher and higher, and corps are now realizing that, failing a CEO who insists it be done, the value of this sponsorship is nowhere near what they are paying for it. "Client appreciation" and "hospitality" et al. can only go so far.

PedronNiall · January 14

22 hours ago, grm24 said:

They stopped using Coca Cola name in the Tour Championship (2016) before Monahan became the PGA Tour commissioner. Why? Who knows. I'm certain you can decide on a reason on your own for your confirmation bias on all things relating to and against the PGA Tour. As you did earlier in this thread. 🤣

PedronNiall · January 14

.

Edited January 14 by PedronNiall

Creedo77 · January 14

9 hours ago, MtlJeff said:

The Norman course in the Bahamas is really nice, and in bad weather can play very tough. I think a Korn Ferry guy shot 100 there once.

But you're totally right, that place has one airport that is basically just a house, and lacks an abundance of hotels, cars etc...

If anyone wants to get an idea, it's where they hosted the Fyre Festival, which became famous for not having infrastructure to host such an event

I’ve been to that event from 2019-2023 (first time in my career I’m not there and instead in Palm Springs for Amex 😎)

The food is overpriced at the resorts but if you don’t rent a car it’s really the only place to eat. The airbnbs are hit/miss, it’s a beautiful place but having to go there for the KFT event gets old after a couple times

Now the Abaco club where the KFT next week is a phenomenal place. Still a bit remote but more housing on the course.

In the end though, the tour isn’t going anywhere near those places or South America