LPGA in more trouble

[soxngolf]

THE ASSOCIATED PRESS
Published: January 28, 2009

Ginn Resorts is ending all golf sponsorships immediately, sending two tournaments into an uncertain future.

The real estate company said today it no longer will host or produce its two remaining events -- the LPGA's Ginn Open and the Champions Tour Ginn Championship. It also will drop its sponsorship of Cristie Kerr, the last player wearing the company's apparel after Annika Sorenstam's retirement.

"This wasn't something that was done lightly," Robert Gidel, Ginn Development's president and CEO, told The Associated Press. "We got to a point where we had to give up on hope as a strategy. We just now have to figure out what's in the best interest of our people, and I think that's where a lot of companies are these days."

Ginn said late last year that it was dropping the PGA Tour's sur Mer Classic because of the ailing real estate market. But the LPGA event in Reunion, Fla., and the Champions Tour stop in Palm Coast, Fla., were both to be played on Ginn courses.

Last week, though, Ginn ended its real estate sales and marketing operations "due to the loss of revenue" that was the primary source of funding the purses and buying television coverage for the LPGA and Champions Tour events.

"We did the best we could, but the economy got the best of us," Gidel said.

Losing the Ginn Open would figure to be a major hit to the LPGA. The event's $2.5 million purse was the third-largest on that tour in 2008, behind only the U.S. Women's Open and the Evian Masters.

If the Ginn Open is not replaced or restructured quickly, that would mean the LPGA Tour will offer only 30 events this year, with nearly $7.5 million less in prize money than players vied for last season.

That will be huge for the LPGA. They can't find sponsors for regular tour events, trying to find someone for that huge of a purse is going to be next to impossible. Tough year to lose Annika, but I am sure Wie will fill some seats.

 

[Wi-Golfer]

I think a lot of these companies are just jumping on the bandwagon & declaring the economy is so bad they can't afford it. Sorry but I just don't see it, it's almost like if enough companies, CEO's, political leaders tell us how bad off we are, then we will actually start to believe it.

Sucks for the LPGA but there isn't a damn thing any of us can do about it exdept possibly protest Ginn resorts by not going there.

 

[WMitch6]

I have no doubt that many companies are using the current economic situation as an excuse to rid themselves of money losing investments and excess employees. Pleading poverty will also help them convince Uncle Sam to lend them lots of taxpayer money.

I was looking at the LPGA tournament schedule last night trying to pick a couple of tournaments to attend. I also noticed that the Samsung has no course listed. I don't know if that means anything.

With the loss of the GINN a full 30% of the LPGA tournaments are now played outside the US.

 

[Adam Pettman]

I think a lot of these companies are just jumping on the bandwagon & declaring the economy is so bad they can't afford it. Sorry but I just don't see it, it's almost like if enough companies, CEO's, political leaders tell us how bad off we are, then we will actually start to believe it.

Do you honestly believe there isnt an economic disaster/downturn going on around the world????

 

[ClairefromClare]

The PGA Tour has already filed suit over this. LPGA seems to be sitting back and waiting.

 

[Rockford35]

Do you honestly believe there isnt an economic disaster/downturn going on around the world????

I think what he's referring to is that this type of thing has gone overboard and people are jumping on the band wagon more and more. It's not that it's not happening, it's just not as huge as the media puts it on.

People will start opening their wallets again, they just need a reason to.

R35

 

[eclark53520]

People will start opening their wallets again, they just need a reason to.

R35

Hookers and blow?

...LPGA does a pro-am with the adult industries finest...

Just sayin....

 

[ClairefromClare]

I think what he's referring to is that this type of thing has gone overboard and people are jumping on the band wagon more and more. It's not that it's not happening, it's just not as huge as the media puts it on.

People will start opening their wallets again, they just need a reason to.

R35

This is scary--I totally agree with Rock.

 

[MCDavis]

Hookers and blow?

...LPGA does a pro-am with the adult industries finest...

Just sayin....

I'll buy the tickets if you buy the beer, eclark!

 

[Rockford35]

This is scary--I totally agree with Rock.

Remember things like Bird Flu, SARS and even to some degree, 9/11? It's all blown completely out of proportion and eating at will by the lemmings.

These are the same people that get pissed off when gas prices increase with demand. Go figure, Einstein.

If you sit back and sleep with the money in the matress, you're part of the problem, not the solution. If people ignored the media more and lived their own lives without dependancy on someone else to tell them how to live, it would be a better place out there.

We live in a sea of bullshit, and each one of us is on a little raft trying to stay afloat.

R35

 

[JEFF4i]

I'm with Clark. You get...25 LPGA members to do a topless Pro-Am, BAM! Beat the SB in ratings.

 

[eclark53520]

I'm with Clark. You get...25 LPGA members to do a topless Pro-Am, BAM! Beat the SB in ratings.

Shoot take 1% of the proceeds on the PPV of that pro-am we could pay off the national debt, solve world hunger and cure aids...

Let hooters sponsor it. Wings at every tee-box...

 

[Rockford35]

Shoot take 1% of the proceeds on the PPV of that pro-am we could pay off the national debt, solve world hunger and cure aids...

Let hooters sponsor it. Wings at every tee-box...

Have you seen the LPGA? There are alot of "chicken wings" on that tour already....:biglol:

R35

 

[JEFF4i]

Shoot take 1% of the proceeds on the PPV of that pro-am we could pay off the national debt, solve world hunger and cure aids...

Let hooters sponsor it. Wings at every tee-box...

Shoot I'd pay every penny I have to caddy!

Have you seen the LPGA? There are alot of "chicken wings" on that tour already....:biglol:

R35

Dude, let's be honest with ourselves...we'd still watch it.

 

[Rockford35]

Shoot I'd pay every penny I have to caddy!




Dude, let's be honest with ourselves...we'd still watch it.

Nah, I'll be at the range.

R35