LPGA Downsizes to Deal with Economic Crisis

  • englishnews@chosun.com

    November 21, 2008 11:34

    Due to global economic recession, the number of the U.S. LPGA tournaments next year will be cut by three for prize money totaling US$ 5 million less.

    While announcing next season’s schedule, LPGA commissioner Carolyn Bivens said Thursday there will be 51 tournaments and a total of $55 million prize money in 2009. In 2008, there were 34 tournaments for $60 million.

    The ADT Championship, the season’s usual finale with a total of $5.5 million prize money, will not be held from next year. The new season next year will open with the SBS Open in Hawaii on Feb. 12, and end with the Standard Financial Tour Championship in Texas on Nov. 19.

    Bivens said that although the LPGA Tour, which has grown steadily over the years, has been badly hit by the global economic slowdown, its strong finances will allow it to overcome the current crisis.

    The NBA and NASCAR are also trying to save money by downsizing personnel. Meanwhile, the PGA Tour, which released next season’s schedule last Wednesday, has increased its total prize money.

    The Korea LPGA Tour will not downsize next year. In 2008, a total of 25 official KLPGA tournaments were held offering W8.7 billion (US$1=W1,497) in prize money.

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