ESPN.com: "At Ryder Cup, follow the money"

Bob Harig files an in-depth look at the business structure of Ryder Cups on both sides of the Atlantic, breaking down the differences with the European Tour essentially taking bids and a flat fee for the privilege of hosting every four years, while the PGA of America pays a fee to the venues and handles everything on the business side.

While numbers are tough to come by, Harig notes that the "European Tour controls 60 percent of the event, with the PGA of Great Britain and the PGA of Europe each holding 20 percent." And how important is the event to the European Tour coffers?

Earlier this year, Golfweek reported that the European Tour made more than 14 million pounds in pre-tax profit in 2010, the last time the Ryder Cup was staged in Europe. A year later, when there was no Ryder Cup, it lost more than 2.2 million pounds.

The most interesting part of the story for me came from the course owners who bought Ryder Cups and how they view the investment in their rear view mirrors. In hindsight, the investment for the K Clubs and Celtic Manors of the world was a good one even if we still have to see those uninspired places in highlight packages.

From Terry Matthews of Celtic Manor, 2010 host.

"I happen to be a risk taker; I know you might find that hard to believe," Matthews said during a telephone interview conducted at the same time as the recent NATO Summit was taking place at Celtic Manor. "I look at it like this: If I do it, what is the best case? If I do it what is the worst case? As long as I can afford the worst case, I'll work hard for the best case.

"In terms of the cost, [the Ryder Cup] was the worst case. In terms of upside, it ended up being the best case. It's true this has been a very costly exercise.

"But in my business, I travel all over the world and wherever I go they know about the Ryder Cup. They know about Celtic Manor. They all know that Prince Charles toured the site. President Obama was the first sitting U.S. president to visit Wales. Without the Ryder Cup and the infrastructure necessary, I probably would not have been able to host the NATO Summit. The Ryder Cup makes for a great conversation piece wherever I go."

And it doesn't hurt that his golf business prospered because of it. According to Matthews' communications director, Paul Williams, golf revenues doubled at Celtic Manor between 2008 and 2011 and have maintained that level.

"I have to tell you," Matthews said. "It was probably the best investment I ever made."