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First words...
Published:  27 April, 2009

I had the opportunity to speak to Greg Norman on the phone recently - just another day at SGB Golf you understand. On the subject of coping with economic "hiccups", Norman said: "There are pundits who say it might take 20 years [to recover] and there are others who say it might take seven or eight months. I believe it will happen sooner rather than later, because there is so much cash sloshing around on the sidelines not earning much interest, and people like to see the percentage return on their investments up into double digits, so I think that money will get back to work very quickly."

The sidelines around the country clubs in Norman's Floridian neighbourhood are probably a bit different from the ones around our typical local clubs, but right or wrong, it was good to hear some optimism from a man well connected in most reaches of the golf industry.

It is also worth reporting that on the subject of Tour sponsorship, Norman said, "There is bound to be a major correction soon."

By the word ‘correction', I interpret Norman to mean a new era of realism, in which case, the wheels are rolling. A clear indication is the furore surrounding Tiger Woods' reported $3 million appearance fee for the 2009 Australian Masters. Tiger probably won't mind too much, but he might not be offered such an inflated incentive again soon.

The correction has started at the top of the game and it will ripple down. The golf sponsorship market is dropping, but this could be good news for the golf industry at large. If companies can find better value for their dollars, then all that "cash sloshing around on the sidelines" will indeed be put back into play sooner rather than later. I just hope golf does not lose out to other sports in attracting sponsorship.

Robin Barwick, Editor




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