There’s no way to sugar-coat this.
There’s no defending the PGA Tour.
This week the PGA Tour basically showed its true colors when it was time to help the flood-stricken folks in Houston.
Millions of dollars have been pouring in from the other major sports organizations. But not the PGA Tour.
The PGA Tour, with its extremely deep pockets and very, very short arms, ponied up for $250,000.
Commissioner Jay Monahan should be totally embarrassed, even ashamed at that.
It is that time, time to bring up what a financially FAT organization the PGA Tour really is. One of the things that shovels even more dollars into the PGA Tour coffers is that it operates under the guise of a “not-for-profit.”
Forbes Magazine blew the whistle on the PGA Tour way back in 2013 and brought up some eye-popping numbers. Forbes took a look at the PGA Tour’s tax returns from the year 2011. Back then, The Tour had $2 billion in revenues. Yes, $2 BILLION. You know that number has gone way up.
In 2011, The Tour had an investment portfolio worth nearly $1 billion. Yeah, a cool BILLION. And here’s the real catch — with it’s tax-free status, The Tour pays ZERO income tax from the monies made on that massive fortune.
What a racket!
The Tour has some for-profit businesses in its fold. Still, back in 2011, off that $2 billion in revenues, our friends paid only $800,000 in income taxes.
And these are the people who dug deep and came up with $250,000 for the Hurricane Harvey Relief Effort.
Well, the bad news for Jay Monhan and his henchmen up there in Ponte Vedra Beach is that they’ve been totally out-done, out-worked and shown up by one single NFL player and that’s J.J. Watt.
Watt, all by his lonesome, with just his contacts, has his relief efforts at $14 million and growing.
The Detroit Lions and Baltimore Ravens have thrown in $1 million each.
Arthur Blank, owner of the Falcons threw in a cool million.
Leonard Fournette, the rookie running back for Jacksonville is contributing $50,000. You mean to tell us the PGA Tour can only come up with $200,000 more than a rookie running back?
Shame on you Jay Monahan.
For years the PGA Tour has been puffing its chest and telling us how much it raises for charities in the cities that host Tour events, well, the Tour doesn’t raise that money, it’s the local guys like the Salesmanship Club in Dallas and the Thunderbirds out there in Arizona. They raise the money for charity. Did we mention that there is a PGA Tour event IN HOUSTON?
And the guys who fork over the big money to play in the pro-ams, that money goes to the charities.
Add to this disgrace the fact that the PGA Tour also has a plethora of fat-cat corporations at its beck-and-call, companies like FedEx, Waste Mangement, AT&T, Sony, John Deere and more.
You would think that Jay Monahan and the rest of the Ebeneezer Scrooges up there at Tour Headquarters, the Ponte Vedra Palace, would give their fat corporate partners a jingle and say something like “Hey, let’s be the shining examples of the sports world, flex our money muscles and donate $1 EACH to the cause.”
That’s what The Tour should have done.
But it didn’t.
That’s what you get from an organization with deep, deep pockets and very, very short arms.