April 25, 2018
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Masters champion Patrick Reed says he doesn’t believe in one company sponsoring a golfer entirely. At least that’s his stance right now.
But the decision to play with a mixed bag of clubs — and not commit to one big-name brand — could be costing him millions, experts say.
The 27-year-old winner of six PGA Tour titles parted ways with Callaway Golf last year and told CNBC this week, “It’s hard to believe that there is one company that makes 14 perfect golf clubs.”
Golf Channel equipment expert Matt Adams sees Reed in a “unique situation” financially. He estimates winning a Masters could pay out between $12 million-$15 million from corporate appearances, speaking fees and endorsement dollars. That number could be even higher for Reed considering he’s a free agent with his clubs.
“I don’t think (Reed) is looking for or stressed about finding an (equipment) deal. There’s no rush,” said Adams, who’s worked in the golf industry for more than 25 years. “However, when you’re the Masters champion, referred to as Captain America, and it’s a Ryder Cup year, I get the feeling that equipment companies will be knocking on the door and would love to sign somebody of (Reed’s) caliber, particularly when they can offer him a lot of money in a category where he’s not making anything in.”
There’s been an overall decline in equipment deals because of how the market has changed, Adams notes. But he says the decline has generally hurt PGA Tour players less accomplished than Reed, who’s ranked No. 11 in the world.
“For someone as high a caliber as him to win the Masters without an equipment deal is extremely rare,” Adams said. “Five to 10 years ago, you would have been hard-pressed to see any Tour player who didn’t have an equipment deal, but there’s not as much money as there used to be.”
After the Masters, Reed seemed unfazed that he’d miss out on a bonus that golfers typically receive from their equipment sponsor after winning a major championship. “The biggest thing was, I wanted to be different,” he told CNBC.
Just how different is it? Reed’s decision to sign with Nike for a clothing deal that’s separate from his equipment falls in line with Tiger Woods’ decision to be sponsored by Nike for apparel but TaylorMade for clubs and Bridgestone Golf for balls.
— Patrick Reed (@PReedGolf) April 10, 2018
Nike stopped making golf equipment in 2016, creating a major wave of free agency for some of the top equipment brands. Since leaving Callaway last year, Reed hasn’t signed with another equipment company.
While under contract with Callaway, he was seen using other brands’ clubs and blamed lackluster results on his equipment.
“That’s the trade-off, when those two things are at conflict,” said Southern California associate professor David Carter, the executive director of the school’s sports business institute. “An athlete in this situation has to weigh what’s best for his on-course performance and long-term, off-course financial wellbeing.”
While Reed’s situation with no equipment sponsor is unusual, there are other recent high-profile examples. Brooks Koepka also bucked the trend when he won the 2017 U.S. Open by using a bag full of irons he wasn’t paid to play with.
Koepka, who had used Nike equipment before it got out of the club-making game and now has an apparel deal with the company like Reed, was courted by Mizuno Golf. Although he wasn’t under contract, Koepka used Mizuno irons created specifically with him in mind (as an athletic long driver) for the U.S. Open.
In another sign of how much the market has changed, Sergio Garcia split with longtime sponsor TaylorMade after 2017, the year he won his green jacket, and signed on with Callaway.
Adams says big-name players such as Tiger or Rory McIlroy can make more than $20 million a year from their apparel and equipment deals combined, and those deals are typically written long term for five to seven years. But the numbers greatly vary below the top-tier names, with mid-range golfers averaging closer to the $1 million-$5 million range for shorter terms.
According to experts, most equipment companies will sponsor around five to seven notable Tour players, and their contracts require a golfer to use 12 or 13 of 14 clubs with the brand. Tiger’s deal is the rare exception to the rule.
In 2016, Phil Mickelson earned $50 million off the course from appearance fees, course design and a list of sponsors that included Callaway and Rolex, according to Forbes. The only active athletes to earn more outside of their normal salaries that year was Roger Federer ($60 million) and LeBron James ($54 million). And Jordan Spieth more than doubled his sponsorship earnings after he won two majors in 2015
“The position that Reed is in now is a good one because of his notoriety,” Carter said. “Whether it’s good, bad or indifferent, he has an emerging brand that gives him a tremendous amount of leverage with these (equipment) companies.”
Reed’s case presents an interesting dilemma: Comfort with his clubs or dollar signs. It’s worth noting that he earned $1.98 million for his Masters victory and has just over $22 million in PGA Tour earnings overall.
At Augusta National last weekend, Reed used a Ping driver, Titleist and Callaway irons, Artisan Golf wedges, a 7-year-old Nike 3-wood club and an Odyssey putter. And he used a Titleist Pro V1 ball.
“He would be passing up quite a bit of money,” Carter said of Reed’s lack of equipment sponsor. “But if he’s being true to himself and his personal brand, he could monetize it elsewhere. He could do a deal when he’s comfortable. But it almost seems inevitable for him to sign (an equipment contract). You can only go rogue for so long without it having a (financial) effect.”
Contributing: David Dusek of Golfweek
AUGUSTA, Ga. — Welcome to the Masters morning rundown, your one-stop shop to catch up on the action from Augusta National. Here’s everything you need to know for the morning of April 6.
Spieth sets the pace
What slump? Jordan Spieth racked up seven birdies—including five consecutive on the back—and an eagle on Thursday afternoon to take the Masters lead on Day 1.
It’s not so much that Spieth went low, but how. While he made the most of the 11 greens he hit—on the nine holes where a red number was recorded, six were spurred by approaches within 12 feet—Spieth chalked up two of his best shots to his putter. An eagle putt on the eighth and, of all things, a five-foot bogey putt on the seventh.
“It was a very difficult putt, and I could have dropped to over par,” Spieth said. “And it led to stepping on No. 8 tee feeling like, okay, regrouped, let’s grab three coming in.”
Given his early-season struggles have been attributed to the flat stick—he entered the week ranked 185th in strokes gained: putting—Spieth’s 1.33 putts per green mark was an auspicious sign, and to the rest of the field, a bad omen. It wasn’t a flawless round; he driver was problematic, and he did make three bogeys. As it was routinely pointed out, one good putting round does not erase three months of woe. But confidence breeds more confidence, and on a course that Spieth has made his de facto home, Spieth is brimming with it heading into Friday.
— Bleacher Report (@BleacherReport) April 5, 2018
Finau’s “miraculous” 68
On Wednesday night, it appeared Tony Finau wouldn’t be able to tee it up in Round 1. Which made what transpired on Thursday all the more shocking. As night fell on Augusta National Thursday night, the 28-year-old finds himself near the top of the leader board.
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Despite dislocating his ankle in celebration at the Par-3 Contest, Finau cobbled together a four-under 68, one of the best rounds on Day 1. The tour’s leader in driving distance still had plenty of oomph off the tee, and though his irons weren’t on (hitting just half of the greens in regulation) his putter was, with a field-best 1.28 putts per hole.
He did it with “quite a bit” of tape. And a hell of a lot of heart.
“It was nothing short of a miracle ,” Finau said.
This is Finau’s first appearance at the Masters, and as it’s been noted, this is a tournament not kind to newbies. Considering what he just accomplished on one ankle, taking down that history doesn’t seem too daunting.
Tiger’s so-so Round 1
The buzz never stopped for Tiger Woods’ first Masters round in three years. The problem was, Woods never got going, posting a one-over 73.
The 14-time major winner was able to make two birdies on the final five holes, yet his poor driving continues to rear its ugly head. This was especially evident on the par 5s, which have been the bane of his existence this season (101st in par 5 scoring), failing to make birdie on Augusta National’s long holes.
To his credit, Tiger was okay with his round, and feels like he’s in position to strike.
“Yes, I played in a major championship again, but also the fact that … I got myself back in this tournament, and I could have easily let it slip away,” he said. “I fought hard to get it back in there, and I’m back in this championship. It will be fun the next 54 holes.”
It will. The Masters always is. But Woods needs a solid Friday to make sure he’s part of that mix.
Sergio’s terrible, no good, very bad hole
Sergio Garcia came to Augusta National’s 15th hole at two over in his first round as reigning Masters champ. His score was decidedly higher when walking to the 16th tee. After hitting a 320-yard drive on the 15th, leaving 200 yards and change, the Spaniard’s approach went into the water. As did his fourth. And six. And eighth. And, you guessed it, 10th.
However, the 12th found land, and the 38-year-old sunk the 10-footer. The final damage? An octuple-bogey 13.
“I don’t know,” Garcia responded when asked to explain the hole. “I don’t know what to tell you. It’s one of those things. I feel like—I don’t know, it’s the first time in my career where I make a 13 without missing a shot. Simple as that. I felt like I hit a lot of good shots and unfortunately the ball just didn’t want to stop. I don’t know, you know, it’s one of those things. So it’s just unfortunate, but that’s what it is.”
The 13 tied for the highest score in Masters history, and the highest score on the 15th, “beating” the 11s of Masashi (Jumbo) Ozaki, Ben Crenshaw and Ignacio Garrido. To Garcia’s credit, he bounced back on the 16th with a birdie. But it’s safe to say he won’t be defending his crown.
Day’s suds-soaked shot
That Jason Day’s drive at the first went left is not a shock; that side is a common bailout for players on the opening tee. What makes Day’s shot unique is where his second landed: into a patron’s beer.
The 2015 PGA champ’s approach sailed to the right, clattered around the Georgia pines, hit a patron’s shoulder and landed in a libation. Told by an official that Day needed to identify his ball, the fan obliged, downing the drink to the amusement of his fellow patrons and Day.
Unfortunately for Day, he was unable to save par from the suds-soaked spot, walking away with a bogey. The rest of his front nine wasn’t much better, making the turn in 40 and finishing with a 75. But at least he had a story to cheers to after the round.