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Correction: Phil's Masters Win Costs Sponsors $1M

Posted Apr 15th 2010 3:30PM by Jeff Reeves (RSS feed)

CORRECTION: This story, published on April 12, 2010, incorrectly reported the cost of the recent "If Phil Wins, You Win" promotion, held by Golfsmith International and Callaway Golf. The cost of the golf club promotion was not incurred by the golf maker or the retailer, but was covered by a prize indemnity insurance policy, so the insurance company, not Golfsmith or Callaway, is covering the payout.
- Editor

As left-handed golfer Phil Mickelson donned his third green jacket Sunday at the Masters in Augusta, it shareholders of Callaway Golf (ELY) and Golfsmith International (GOLF) stock had trouble basking in the glow.

That's because the golf club maker and retailer (both Mickelson sponsors) had crafted a nifty promotion called "If Phil Wins, You Win." The campaign meant anyone who purchased a Callaway Diablo Edge driver in March or April would get their money back if Mickelson won the master.

The total price tag of Phil's win: $1 million in free clubs, ~~paid for by Golfsmith and Callaway.~~

This is bad news for these small-cap stocks right before earnings season. As the Tiger Woods buzz dies down and the impact of these one-time charges come home to roost, ELY and GOLF stock will likely suffer. ~~Though consumer spending is up, few believe that its back to the levels necessary to sustain a broad recovery and support growth discretionary spending stocks like Golfsmith and Callaway.~~

Continue reading Correction: Phil's Masters Win Costs Sponsors $1M

Tiger Woods to take 'indefinite break from professional golf'

Posted Dec 12th 2009 8:40AM by Mark Fightmaster (RSS feed)
Filed under: Columns, NIKE, Inc'B' (NKE), Business of Sports, Headline News

Time to piggyback on my thoughts about Tiger Woods potentially quitting golf. A statement on Tiger's personal website announced that the world's greatest golfer is going to take "an indefinite break from professional golf." Tiger begins the statement by expressing awareness of the "disappointment and hurt that my infidelity has cause to so many people, most of all my wife and children."

This is the first time that Tiger has really spoken since the car crash, which I feel was a bit of a public relations mistake. His silence allowed the public and tabloids to assume Tiger's guilt before he spoke. Of course, it doesn't matter now, as Tiger admitted to "infidelity," confirming what many have theorized. Tiger added that "It may not be possible to repair the damage I've done, but I want to do my best to try."

Continue reading Tiger Woods to take 'indefinite break from professional golf'

Nike's stock takes a tumble: What Tiger effect?

Posted Dec 12th 2006 5:26PM by Sarah Gilbert (RSS feed)
Filed under: General Motors (GM), NIKE, Inc'B' (NKE), Business of Sports

Our correspondent, Mike Brewster, is a freelance writer and sports enthusiast. We asked him to begin contributing pieces on the business of sports.

Following the shortest drive of his career (about 10 feet of stage while behind the wheel of the newly introduced Buick Enclave last week at the L.A. Auto Show), world number one golfer Tiger Woods is back making business news, re-upping with NIKE, Inc. (NYSE:NKE) Tuesday for a third successive multi-year contract.
While terms weren't announced, this pact is bound to exceed the two previous five-year agreements, which at $40 million and $100 million were relative bargains for the Oregon sporting goods giant.

Interestingly, Nike's stock price took a tumble on the news, thereby temporarily disproving my "As-Tiger-Goes-So-Goes-Nike" theory. Ever since Tiger regained his form over the summer and posted six consecutive PGA Tour wins, Nike's stock has risen from a 52-week-low of $75.52 on August 10 to a high of $99.30 on November 30. But today, the stock fell nearly a full percentage point. Maybe Tiger's deal is for a little more scratch than we thought?

Continue reading Nike's stock takes a tumble: What Tiger effect?