No “Amen Corner” for corporate sponsors
Georgia’s Augusta National Country Club is a holy place for golf fans. It is there that each year since 1934, The Masters has been held. Luminaries of the fairway from Bobby Jones to Tiger Woods have tasted victory and donned the green jacket (a tradition since 1937). For corporate sponsors, The Masters has also been a place of great honor – and profit. Advertising comes at a premium, but the possible name recognition among the old guard of elite fans (read: elite businessmen) is priceless.
However, as Russ Bynum reports for the Huffington Post, big corporate sponsors who have received the cash advance of government bailout money may be staying home this time. Corporate chef Karl Kwoka has more cancellations than customers this year as four large corporations have backed out. For Kwoka, this means a loss of “more than $70,000,” not to mention temporary staff who won’t have a high-profile job to do.
“Mardi Gras” for the country club crowd
In its 75-year history, The Masters has earned its reputation as the “Mardi Gras for the country club crowd.” According to Bynum, The Augusta Convention and Visitors Bureau estimate that the Masters brings over $100 million into the economy of the city. Typically, they depend upon “the Army’s Fort Gordon, a medical college, several hospitals and a smattering of manufacturing” to support the economy the rest of the year.
Diane Starr, president of Augusta rental agency Corporate Quarters, admits that banks and finance companies are the big no-shows this year. Such corporate sponsorships pump vital revenue into both the local economies and the PGA Tour. Companies that have taken taxpayer funds to bail themselves out of their mistakes rightly figure that it is good public relations not to appear as if they’re dining out at the taxpayers’ expense.
Limited – but quality – time
Corporate advertising at The Masters is different than at other major PGA tournaments. The grounds are untouched, and the three major sponsors (IBM, AT&T and Exxon Mobil) must use secluded private chalets to entertain guests. On television, corporate sponsors are allowed four minutes per hour of commercial spots, versus the normal 15 to 18 minutes per hour afforded sponsors during other tournaments of the PGA Tour.
Once the dessicated megaliths we’ve bailed out regain our trust, perhaps then they can consider their next junket…
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It’s too bad the caterers are losing out. Catering isn’t an easy job, and those people work very hard, and the high end gigs are where a caterer, even if you’re just busing tables, can make a good amount of money. It’s where you see a lot of college kids trying to make their tuition money for fall – and since Augusta has the only state medical school, that might be the difference between someone becoming a doctor or a physician’s assistant.