Finchem Gets Big Raise In '06

Jon Show in the Sports Business Journal manages to get ahold of the latest Form 990 showing PGA Tour salaries for 2006.

Tim Finchem earned $5.2 million in salary and bonuses in 2006 as commissioner of the PGA Tour, an increase of $1 million from the $4.2 million he earned in 2005.

Well, cost of living is going up in Jacksonville...and wherever else he's got a second home.

Show also gets into the PGA Tour "Holdings" racket structure.

Without commenting directly on Finchem’s compensation, Ron Price, CFO of the PGA Tour, said executive compensation tied to PGA Tour Holdings varies depending on responsibilities within the subsidiary. “We look at how individuals actually spend their time during the year and come up with an allocation to Holdings,” he said.

Both entities pay most top executives a salary, annual and long-term incentive bonuses, and benefits payable after retirement. Bonuses are based equally on the performance of the company and individual performance, such as whether an employee met both financial and nonfinancial goals.

Finchem’s $3.9 million income from PGA Tour Inc. consisted of $922,500 in salary and nearly $3 million in incentive bonuses. The organization paid him $3.16 million in 2005 and $3.05 million in 2004.

Another $1.3 million of Finchem’s pay in 2006 was paid by PGA Tour Holdings, including salary, incentive bonuses and deferred compensation. PGA Tour Holdings paid Finchem $1 million in each of the previous two years.

The piece also lists these salaries and benefits and benefits payable after retirement: 

Tim Finchem Commissioner $5,222,240   $38,635  $1,018,016
Charlie Zink EVP, co-COO $1,308,162   $28,869   $189,334
Ed Moorhouse  EVP, co-COO  $1,308,144  $22,266  $202,490
Ron Price EVP, CFO $908,554  $22,686 $55,948
Tom Wade  EVP, CMO  $899,795  $25,284  $25,000
Henry Hughes  EVP, chief of operations  $621,195  $24,018 $23,400
Richard George President, Champions Tour; EVP, champ. mngt. $531,050 $17,501 $11,000
Bill Calfee President, Nationwide Tour $527,098 $20,545 $18,806
Richard Anderson EVP, chief legal officer $508,395 $16,648 $11,000
Bob Combs* SVP, public relations and communications  $372,494 $15,674 $13,053
Ty Votaw**  EVP, communications and international affairs $266,346  $8,470   $11,000

I'm running to catch a plane, but if anyone bored with a calculator would like to tally up that sum, it would be nice to know!