PGA: Greg Norman to PGA Tour: Show Me the Books!

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By Erik J. Barzeski via TheSandTrap.com

The Norman-Finchem fight enters round number, uhhh, we lost track when it hit 50 last year. This time, Norman wants to see the PGA Tour's "financials."

Greg Norman wants to see the the PGA Tour's books. As Tim Rosaforte says in his article, the request is not new. However, this may be the first request from a player with as high a profile as Greg Norman.



Norman is so serious about seeing the books that he's hired high-powered attorney Leonard Decof, last seen representing Ping against the PGA Tour over the issue of square grooves. Though a lawsuit over the PGA Tour's books has not yet been filed, it has certainly been threatened.



Rosaforte says "Norman's view is that as a tour member, he's entitled to see the financials and the minutes of all its meetings." PGA Tour Co-COO Ed Moorhouse told Golf World "We've offered to sit down and answer any specific questions. To this point he has not availed himself of that, but we are ready to sit down and discuss any questions he has."

The PGA Tour is a 501©(6) organization, the classification given to non-profit "business leagues" by the IRS. Every 501© organization receives a letter saying, in part:

The law requires you to make your annual return available for public inspection without charge for three years after the due date of the return. You are also required to make available for public inspection a copy of your exemption application, any supporting documents and this exemption letter to any individual who requests such documents in person or in writing. You can charge only a reasonable fee for reproduction and actual postage costs for the copied materials. The law does not require you to provide copies of public inspection documents that are made widely available, such as by posting them on the Internet (World Wide Web).

Similar language can be found here and here on the IRS.gov site.



The PGA Tour is required to make certain documents, like their Form 990 or 990-EZ tax returns, available to anyone who asks for them. Other documents, like board minutes, must be made available to all members (more questions answered here.)



Says Decof, "Under law, every person has [the] right to access the books. It's an absolute right. The players don't know what's going on. They go to those meetings and they get mumbo-jumbo. Greg wants to know what's going on in a corporation that he's a member of."



Norman's request to see the "financials and the minutes of all its meetings" appears to be well within the law as a member of the PGA Tour. However, we're not so certain that Moorhouse's offer to sit down and answer questions does not meet the obligations the Tour has to the law and their non-profit status. What does Norman want to see? What are the "financials"? Do they include the general figures as seen in the 990 or do they include Tim Finchem's corporate credit card statements?



Until the question of exactly what Greg Norman wants to see is answered, we cannot say who may be right or wrong in this case. The words "books" and "financials" are vague at best. Perhaps Greg Norman's request to see the "financials and minutes" left Moorhouse as confused as us. It certainly explains to me why Moorhouse would offer to answer "specific" questions.



Through the years, Greg Norman has had numerous run-ins with Tim Finchem (see here, here, and here). Is this latest maneuver by the Shark a media-grab or a sincere request?



One thing is for certain: this has the potential to become a huge story.



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[Simp]

I think it's really sad that a man of Gregs stature has to start poking sticks at people to get his name in the news. He's basically retired from the game because he's not the "Shark" that he once was. He needs to stick to growing grapes, not slinging mud. JMO, Simp

[gjones77]

You know what, Norman has every right to ask to see the books, and I doubt it's for press since the man has no need for it.

 

And quite frankly the PGA has screwed him over on a few occasions so if he pushes back a bit I can understand why.

 

But then again, I've always liked Greg Norman because he's a bit of a rebel...

[Sisu]

He should be allowed to view the records, but would sure rather see Greg do something positive for golf.

 

Seems like all he does now is to take jabs at the sport that afforded him his lifestyle.

[Simp]

You know what, Norman has every right to ask to see the books, and I doubt it's for press since the man has no need for it.

 

And quite frankly the PGA has screwed him over on a few occasions so if he pushes back a bit I can understand why.

 

But then again, I've always liked Greg Norman because he's a bit of a rebel...

 

I agree that he has the right to see the records. But couldn't he have just picked up the phone and call Tim Finchem and asked to see them? If he has already I'm sure that there are other ways to see them instead of him going on the typical "I'm Greg Norman power trip". I think that he can't get over the fact that he's not the king of the hill anymore and he has to do something to keep people from totally forgetting about him. Simp

[gjones77]

You know what, Norman has every right to ask to see the books, and I doubt it's for press since the man has no need for it.

 

And quite frankly the PGA has screwed him over on a few occasions so if he pushes back a bit I can understand why.

 

But then again, I've always liked Greg Norman because he's a bit of a rebel...

 

I agree that he has the right to see the records. But couldn't he have just picked up the phone and call Tim Finchem and asked to see them? If he has already I'm sure that there are other ways to see them instead of him going on the typical "I'm Greg Norman power trip". I think that he can't get over the fact that he's not the king of the hill anymore and he has to do something to keep people from totally forgetting about him. Simp

 

I really think Norman is looking out for the best in the sport, I don't think he's taking jabs at it.

 

Don't forget that the World Golf Championships were his idea, just stolen and used by Finchem.

 

But as for the books, people have asked and were refused in the past, so he's going about it the only way the PGA listens to, through a lawyer.

[littlepoison]

I can understand wanting to see the minutes from meetings because they impact all players with tour policies by which they have to abide by... but, with the PGA Tour being a 501C, reviewing the financials doesn't necessarily make a lot of sense, unless he's asserting that there is a serious issue with monies transferred between sponsors, the event, and the tour, that should be going to players and is not... I mean, I'm not up to speed on the legality or lack-there-of with investing in a 501C (which I would think wouldn't be of particular interest to Norman) but I certainly don't think that this is the central issue at hand...