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PGA's FedEx Cup Proving Profitable for Networks
Looks like the FexEx Cup, the new championship trophy for the PGA Tour, is worthwhile for the television partners of the golf world.
The PGA Tour's FedEx Cup "likely will help make the first year of the Tour's new TV deal profitable -- at least for some of its TV partners" -- according to Golfweek
A network source told the publication that "the rights fees we are now paying are probably 10-15 percent less than they were before, while our sales revenues are up 10 percent."
The FexEx Cup was first awarded this year after a NASCAR-like points race.
Tiger Woods, of course, is the current champion.
Photo of Tiger Woods by Getty Images for Nike
Golfweek said gains have come from "a 'slight' advertising premium charged for FedEx Cup events, new business from pharmaceutical companies and continued support from the financial services and auto industries."
"Golf advertising sales were very strong for both our PGA Tour and USGA packages. We were delighted with how the first year (of the new TV contract) went. Our numbers were strong, overall interest was high, and the public seemed to like it," NBC Sports President Ken Schanzer told Golfweek.
The PGA Tour's TV partners reportedly "lost millions during the final years" of the last TV deal that expired after the 2006 season, the publication said.
