Feinstein: PGA Tour Picking Up Full Purses Right Now, Charities Getting Their Normal Donations

Quite the rosy picture of PGA Tour finances in a time of pandemic from John Feinstein at GolfDigest.com:

Other sponsors are accepting their fate of fanless events in the near term for several reasons: They know that the tour’s carefulness is understandable, the tour has picked up the entire tab for purses since play started again, and the tour is apparently in a position to cover full purses at least until the end of the calendar year, if need be. Normally the tour pays for half of each week’s purse.

“You have to understand, they went 10 weeks without paying out purses, so they’re a little more flush than usual,” one source said. “Plus, they have an emergency fund that they can use, and their new TV deal [starting in 2022] will give them a 70 percent boost overall. You add that all up, and they’re in pretty good shape, even if this lasts a while longer.”

Equally important to the local tournament organizations, the tour has also pitched in to make sure the charities that normally receive money from the events are still getting their normal donations, or close to those numbers.