In the days following the approval of golf into the Olympics for '16 and '20, a lot of debate was had surrounding the business and economic impact of this gift of globalization granted by the IOC.  Who would make money?  How would they do it?  Is that against the spirit of the Olympics?

A critical part of the discussion was the need to develop golf infrastructure inside of Brazil that is capable of hosting a world class golf tournament.  Suggestions were made that the PGA Tour's TPC Network would make a strong effort to develop the course for Rio's '16 Games.  Jack Nicklaus has said he would be happy to help, and make some money.

But, what about professional golf in Brazil?  In terms of the world's three foremost professional tours, only the LPGA Tour has made a recent foray into Rio.  This past February, the LPGA Tour held the HSBC LPGA Brazil Cup - a 36 hole event won by Women's British Open champion Catriona Matthew.

Aside from that, though, the PGA Tour has never ventured into South America.  The European Tour has not done so with their flagship tour, but its Challenge Tour (the equivalent of the Nationwide Tour here in the States) has played in Colombia this season and other South American countries in the past, including an Arentinian swing last season.

In other words, South America - along with almost all of Africa - is a part of the final frontier for professional golf.  Padraig Harrington has recognized this and is trying to draw attention to it this week in Portugal, whose language is spoken by Brazil's population.  After all, Brazil provided Harrington with his second European Tour win in 2000.

In commenting with reporters about the proposed protectionist measures proposed by the European Tour regarding Tour participation standards. He sees the proposal as having a limiting impact for the Tour's success.

"If we're to compete with the US, we must consider ourselves to be a world tour," he said. "And under that banner, we cannot exclude the Asian events from this criterion and make them feel less important to us. The growth potential of Asia is illustrated by the fact that Tim Finchem (US Tour commissioner) is currently on a three-week tour there, trying to establish tournaments for the PGA Tour. We should also be looking at South America, which should be capable of delivering a few $5 million tournaments."

The race is on to conquer golf's final frontiers.  The PGA Tour has seen the success of the Asian swing on the European Tour and wants a piece of the action.  Tim Finchem convinced the HSBC Champions to be converted into a WGC event, effectively making it a part of the PGA Tour schedule.  He will look to do the same for the PGA Tour, but with exclusivity.

The same thing that happened to the HSBC Champions event could be done organically in South America.  A World Golf Championship could be held in Brazil, Argentina, or another South American hub.  It would help promote the sport in a country whose highest ranked male pro is in the mid-500s.

It is also a business opportunity for both the PGA and European Tours.  Given that the European Tour has traversed the globe - except in North America - they have a leg up on the folks from Ponte Vedra. 

The Euro Tour is also guided in part by fear.  The Race to Dubai's sponsor Leisurecorp has now been enveloped into Nakheel, parented by Dubai-owned Dubai World.  That sponsorship is definitely in question for the future.  Were the Euro Tour able to put a permanent stake in the ground in South America, then they may be able to cultivate relationships and sponsorships that will diversify the Tour's interests and prepare it for any possible outcome with Dubai World.

Effectively, Olympic golf becoming a reality has created a new gold rush in the sport.  The professional golf tours of the world are not immune from that rush.  In the next few years, George O'Grady and Tim Finchem will likely go head-to-head in a quest to establish their Tour's presence in golf's unclaimed lands.