Golfer Phil Mickelson has voiced concerns that the credit crunch may create difficulties when the sport’s current sponsorship deals expire. With numerous banks struggling for capital in the midst of the credit crunch, and automotive companies suffering a similar plight, there is a strong possibility that the sport may have to seek alternative sponsors at the end of the current contracts.
Mickelson said, ‘I think the biggest impact for the USPGA Tour is with the auto manufacturers. We've seen that General Motors is hurting and they may run out of cash by the end of the year. We've seen Ford certainly is struggling and all auto makers are feeling the pinch, including Toyota . We have so many sponsors that are in the automotive industry that we will start to feel it shortly. Certainly when contracts are up, we will have to find new sponsors, I would guess, unless things turn around very quickly.’
Having recently labelled US golf as ‘stagnant’, Mickelson also reacted to suggestions that some golf tournaments may be scrapped. The world number three responded, ‘It's hard to say. In some areas we might just take some of our conflicting events and eliminate one to avoid having two events in the same week, so we might not feel it too much.’
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Golfer Fears Golfing Sponsorship Struggle Tue, 11 Nov 2008 Recommended linksTake Part in Golf TournamentsGreat Deals on Golfing Holidays Need New Golf Balls? Compare Top Sportswear Retailers Great Deals on Golf Clubs Scottish Golfers Lagging Behind Former Golfer Admitted to Hospital After Fainting
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