Source...  www.Golfbiz.net

Wall Street, love it or hate it, was the entity that recognized first the dire straights financial institutions were and remain under. While it appears the Federal government is prepared to lend a helping hand, the sector has been under pressure for quite some time and its unlikely to be remedied overnight.

Golf is certainly big business and financial institutions along with automakers have been funding partners to the PGA Tour for many years. With both the challenges ever present in the US economy along with problems within the financial community, it puts the PGA Tour in somewhat of a precarious position. Golf is believed by some to be unaffected by the economy, but that isn't necessarily the view of the PGA Tour Commissioner.
"We are impacted by the economy and the economic challenges like everybody else," said Tim Finchem. "We have a lot of customers and sponsors in economic sectors that are impacted negatively by the volatility in the economy. Thus far, we have not suffered any major damage. But clearly, if the instability were to continue for a sustained period of time, we will have real challenges."

Currently the PGA Tour, Nationwide and the Champions Tours are fully sponsored. But the current economic state of affairs has Finchem's attention. "It is of major importance to us. We're very focused on it, and we're talking to lots of companies on a regular basis. But at this point in time I'd have to say, looking back on what's happened, that we feel delighted that we're not under more pressure than we are. But everybody is getting impacted, as we are, as well."

The Commish acknowledged that the Tour has some options at its disposal in the event of change with its sponsors. "We have operating reserves that we can draw upon. Normally we would let the market just support any kind of issues we had with sponsors," he said. "If this downturn is extended or causes deeper problems for an extended period of time, that may be more difficult.

It's way too premature to suggest that we might have to resort.  But even with reserves, in a worst-case economic scenario we could face retrenchment. I don't see that happening at this point, because even though there are parts of the economy that are very, very challenged, there are other parts that continue to do quite well."

The idea of prize money growing year over year was addressed with Finchem and he stated that trend doesn't have to continue nor would it be a negative factor if it were to happen. “No, I don't think they (purses) have to be going up every year, and I'm not just saying that because we're in an economically challenging situation,” Finchem said. “But I do think there are a number of barometers or measuring sticks on how we are progressing as a sport. In our sport, one of those is charity dollars, because that largely represents the net revenue of our tournaments. Does it mean that any kind of retrenchment in the level of purses or flattening of purses is a negative? Maybe not. But in terms of our mission, which is, number one, generating benefits, direct and indirect, to players; raising money for charity; and helping grow the game, going down is not consistent with where we want to go.”

Finchem added he doesn't think if the money involved were to remain constant or drop off it would negatively affect the audience who watches the product. “But whether the fan would sort of turn off their enthusiasm, I doubt it. I think the fans pay some attention to the dollars, but they're more impressed with what the players are doing inside the ropes. There was never any better indication of that than at the Ryder Cup.”

But the market volatility is something the PGA Tour has been aware of for more than the obvious reasons. “Mergers within the financial service sector can hurt us because a company winds up with two big events and they have a customer need for really one. We'll see how that shakes out; that's an issue,” he explained. “We have a very significant sponsor on the Champions Tour, Constellation Energy. They had to sell the company to Mid-American for reasons that were related to the same turmoil in the markets. So now the new owner, to maintain continuity with that sponsorship, the new owner has to be comfortable with the sponsorship of the Senior Players Championship. So there are a lot of ramifications to it.”

PONTE VEDRA BEACH, Fla. -- The PGA TOUR has approved several changes to TOUR regulations, including two changes to the point system used in the PGA TOUR Playoffs for the FedExCup.

The two adjustments to the structure of the PGA TOUR Playoffs for the FedExCup are as follows:

1. A narrowing of the gap between players' point totals at the reset going into the Playoffs. For example, the gap between the first- and second-ranked players was 1,000 points at the reset last year. That gap has been reduced to 500 points this year, with similar reductions being made all the way down to 144th place.

2. The number of FedExCup points available at Playoff events has been increased by 2,000 additional points per finish position. For example, a third-place finish was worth 3,400 points in 2007; it is now worth 5,400 points. In essence, players who play well will move up more dramatically than in 2007.

Note: For rounding purposes, the points increases at THE TOUR Championship will differ slightly from the first three Playoff events.

The effect of these two changes will be some improvement in a player's ability to make substantial gains in overall position based on excellent play in the Playoffs, while also increasing the number of players who will have a shot at winning the FedExCup.

If these two changes had been in place for the 2007 Playoffs, for example, the effect would have been to increase from six to 12 the number of players with a mathematical chance of winning the FedExCup. And instead of only four players with a realistic chance of winning, there would have been six.

In addition, the TOUR made an adjustment to its 36-hole cut regulation.

The regulation in place since the beginning of the 2008 season called for the starting field to be reduced after 36 holes to the low 70 professionals, including ties, unless that resulted in weekend field of more than 78 professionals, in which case the field would be reduced to those with scores nearest 70th place.

Under the amended regulation, the starting field will still be reduced to the lowest 70 professionals and ties after 36 holes. However, should the 36-hole cut total more than 78 professionals, there will be a second cut to the lowest 70 professionals plus ties at the conclusion of 54 holes of tournament play.

Players not advancing to the final round of play will receive their appropriate share of the official prize money in accordance with their respective positions. The change is effective immediately, beginning with this week's Honda Classic.

Steel driver shafts are nearly all the way extinct, on the PGA Tour. Consider that at all four Majors this year -- plus the PGA Tour Players Championship -- there were absolutely no steel driver shafts in play, according to PGA Tour sources who cite the Darrell Survey. "That's unusual," says an official at one of the major graphite shaft manufacturers. "Typically we'll see one or two guys, at least, using a steel-shafted driver at a Major."

By contrast, 98 percent of the irons in play on the PGA Tour are equipped with steel shafts. And yes, some PGA Tour pros have experimented with graphite shafts in their putters, too, but really no notable players.

While on the topic of metal use, metal spikes in golf shoes are still very much in use at every PGA Tour event. Tour sources tell Equipment us that 20 to 25 percent of PGA Tour pros still have them in their shoes at every event, because they generally feel they get better footing than with alternative cleats.

Now that uou know what the pro´s use. You can ake you own destions.

ORLANDO, Fla. (AP) -- PGA Tour player Arjun Atwal is under investigation after police said what appeared to be a high-speed street race ended in a fatal crash near Orlando, Fla.

Atwal was not injured in the accident Saturday at 5:30 p.m. The other driver, John Noah Park, 48, died at a hospital, Florida Highway Patrol Trooper Kim Miller said Sunday.

No charges have been filed against Atwal, the first player from India on the PGA Tour.

"At a minimum, he is facing a charge of engaging in a street race," Miller said. "We have to see if this crash rises to the level of any other charges."

Atwal's wife, Ritika, answered the phone at their Windermere home Sunday. She said her husband wasn't home and declined to talk about the crash.

The management company that represents Atwal later issued a statement on behalf of him and his family. The statement said Atwal did not know Park but expressed his and his family's condolences to Park's family. It went on to say Atwal could not comment on the accident because of the ongoing investigation.

"We ask that members of the press and the public do not rush to make a judgment about what occurred here, because once all of the facts have been gathered and the investigation completed, it will be abundantly clear that this was simply a horrible accident and tragedy, with no one at fault," the statement said.

Ty Votaw, a PGA Tour spokesman, said he would also need to wait before responding.

"Until we learn more, we don't have any comment at this time," Votaw said.

Miller said troopers will use skid marks and other evidence to reconstruct the crash before filing any charges. The investigation could take up to two months.

"Witnesses tell us they were engaged in a street race," Miller said. "They estimated speeds at or about 100 mph. Park's vehicle hit a tree and basically just shattered. Part of the axle was found in the tree. It was a very violent crash."

The 33-year-old golfer and Park lost control on a curve on a suburban road that is a popular shortcut between the Disney resorts and upscale communities west of Orlando.

Atwal's 2006 BMW spun and came to rest on the shoulder. Park's Mercedes slammed into a tree. The cars did not collide, Miller said.

PGA Tour player Daniel Chopra, who grew up with Atwal in India, said reports his longtime friend was racing sounded exaggerated. He had not spoken to Atwal but said his wife talked to Atwal's wife Sunday.

"Obviously, it was horrible it happened," Chopra said. "I hope people won't think he's somebody who caused the accident. He's a good driver. It was shocking."

Atwal was the first Indian-born player to win on the European Tour when he captured the 2002 Caltex Singapore Masters by five shots. He went to PGA Tour qualifying school a year later and earned his card.

He nearly won a PGA Tour event two years ago. He was in Bali on his honeymoon in March 2005 when his parents warned him of impending storms, so he and his wife headed for their Florida home. Because the BellSouth Classic in Atlanta began late that week, he got into the tournament and wound up in a five-man playoff. Atwal was eliminated on the first extra hole of the tournament, won by Phil Mickelson.

Atwal was not eligible to play again until the Shell Houston Open at the end of the month.

The PGA Tour is making its debut south of the border this week with the Mayakoba Golf Classic in an area known as the Riviera Maya. Fittingly enough, the Greg Norman-designed El Camaleon golf course playing host to the event was built for tourists.

"The whole country is excited," said Toledo, a native of Mexicali and among the nation's more successful golfers. "All the Mexican people see the best players on TV. Now they're seeing them for real, in their own country. This is the biggest thing that can happen for golf in Mexico. I'm really, really surprised we haven't had it before."

Despite the history being made, this event isn't even getting top billing on this week's PGA Tour calendar.

The world's top 64 players are at the WGC-Accenture Match Play Championship in Arizona. Some others stayed away out of concerns about the course, the country and other unknowns that come with any first-time event.

"All the players I've been talking to, they're excited, they're very happy," Toledo said. "It's not Pebble Beach, but it's just wonderful. It's the best golf course that I've ever played in Mexico."

Billed as the PGA Tour's Cancun event, the tournament actually is being held in another part of the Quintana Roo state, south of Cancun and just north of Playa del Carmen, in a resort community called Mayakoba that features jungles, exotic animals and a unique underground water system.

The Norman-designed course and the first of five hotels planned for the area opened in late 2005, a few months after Hurricane Wilma tore through.

The 7,000-plus-yard layout of El Cameleon features two oceanside holes and a cave-like cenote, a natural underground passageway that connects a giant opening on the middle of the first fairway (known as "Devil's Mouth") to a less-noticeable opening between the second hole and third tee box.

The PGA Tour is under contract to return here through 2012, so it's possible the less-than-perfect timing of this year's event was intentional, making it somewhat of a dress rehearsal. How things go, on and off the course for the golfers and their families, could determine where the tournament lands on the 2008 calendar.