September 23, 2020

PGA Tour signs nine-year extension with networks

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NORTON, Mass. (AP) — Even without Tiger Woods dominating golf, the PGA Tour announced Thursday its longest network television deal in history Thursday that secures broadcast rights for the next 10 years.

The tour agreed to a nine-year deal with CBS Sports and NBC Sports. PGA Tour Commissioner Tim Finchem did not disclose financial terms, although he said there was an increase in the rights fee and players would see modest advances in prize money.

And that’s without any assurance that Woods — golf’s biggest television draw — could get back to the top of his game.

“In our business plan, we did not assume any golfer was going to be as dominant as Tiger had been in the past,” CBS Sports chairman Sean McManus said in a telephone interview. “Tiger played in a relatively small number of PGA Tour events, anyway. It would be great if he came back. It would be great if we were dominant again. But we were not assuming that in our numbers.”

The TV contract was the last big hurdle in getting through an economic crisis. The tour still managed to sign 10 new title sponsors of tournaments, and it renewed contracts with title sponsors of 12 other events.

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