Charitable golf tournaments benefit golfers more than charity
The PGA is proud to talk about the $105 million it's tours have raised for charitable golf outings. However, the amount received by the local charity can be small compared to the prize pools for the golfers.
Last Thursday, Joe Stephens at the Washington Post pointed out that the average tournament provides golfers with a purse of $5.7 million and, after paying costs associated with the event, generates $1.75 million for charity.
A spokesman for the Charlotte event said it generates about $1.5 million for charity and paid golfers $6.3 million this year. A Barclays spokesman said that tournament generates $1 million for charity and this year has a $7 million purse. In addition to the purses, tournaments spend millions more on everything from leasing buses to buying gift bags for players.It's a great article that digs into the finances behind Tiger Woods three separate charitable foundations and exposes the lesser known structure of PGA charity events.