US Bank Out as Milwaukee Sponsor
by Ryan Ballengee on Jan 27, 2009 11:29 AM EST
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The event that I love to make fun of - primarily because Kenny Perry chose it over the Open Championship last year - will be without a sponsor after this year.
U.S. Bank will drop its sponsorship of Milwaukee’s PGA tournament after this year instead of picking up a three-year option starting in 2010.
Bill Bertha, president of U.S. Bank’s Wisconsin market, said officials of the Minneapolis-based bank were disappointed with poor ratings on the Golf Channel and sparse attendance at Brown Deer golf course after the tournament dates were changed in 2007. That change put the event opposite the British Open.
I mean, don't get me wrong. Nobody is watching the US Bank Championship in Milwaukee except the Golf Channel employees. But, don't you think that this 3 month chart of its stock performance may be a better indicator of why they're not picking up the option?
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maybe...
…but if the tournament was drawing big and getting more viewership, they would find a way to keep their name on the tournament…assuming they were still in business, of course.
I still believe that the PGA Tour needs to adjust it’s fee schedule for tournaments. It doesn’t matter what tournament is played this week…or the week before…or after – it has no shot of drawing the biggest names. With very few exceptions, the tournaments after a major or a WGC don’t get played by the top guys. A number of guys don’t play the week before, either. Same with the fall schedule – they just will not draw. Charging these tournaments the same amount as the biggest tournaments is just bad business.
"this ball will fit in that fairway"
by courtgolf on Jan 27, 2009 12:40 PM EST reply actions 0 recs
We're in complete agreement
US Bank seemed like a solid sponsor. But they’re getting slammed like every other bank. I haven’t looked through their financials or know their exposure to subprime and Alt A debt, so I cannot say if they brought this on themselves or if short selling did them in.
But, to sponsor an event opposite the Open for an astronomical price makes no sense.
by Ryan Ballengee on Jan 27, 2009 1:49 PM EST reply actions 0 recs
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