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The SK Telecom Open has prompted fierce competition among networks and other businesses for broadcasting and sponsorship rights of the golfing event since it is teenage golf prodigy Michelle Wie¡¯s pro event here and also features Choi Kyung-ju.
The first round at the Sky 72 Golf Club in Incheon on Thursday brought out some 2,000 spectators, with 1,200 tickets sold on the spot in the morning alone. Considering that it was only the first round and a weekday, that was a rare number.
SK Telecom levered the golf tour to the international level in terms of scale and significance by inviting Choi, last year¡¯s champion, and global sports star Wie. But the cost was steep. In addition to the US$700,000 appearance fee for the pair, the company had to fork out for air tickets, accommodation and security for Wie, her parents and her four staff.
But the company seems happy, having already recovered the appearance fee for Wie with the W700 million(US$700,000) MBC paid for the broadcasting rights for all four rounds.
Kia Motors offered more than W100 million to SK Telecom for golf lessons from Wie for its customers. Unlike past golf tours, the event is expected to break even from ticket sales alone.
In short, SK Telecom stands to make good money from increased donations, sponsorships and profits.
Opening a golf tour in Korea costs over three times the total prize money, so a tour where prize money stands at W300 million costs some W800-900 million to host, including green fees of W250-300 million for six days and other operating costs.
That is why organizers are usually busy just minimizing losses. If golf tours are still held, it is because sponsors expect a certain degree of marketing effects as golf spectators and aficionados have enormous purchasing power.
(englishnews@chosun.com )
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