The PGA Tour has released its 2024 tax filings, which, as reported by Sports Business Journal, show a loss.
Revenues totaled $760 million, a decrease of well over 50% compared to 2023, when they stood at $1.82 billion.
Costs, on the other hand, also decreased, but not as proportionally: expenses for 2024 amounted to $1.21 billion, while those for 2023 amounted to $1.89 billion (-36%).
This means that the loss has skyrocketed from $70 million to $450 million (the red has darkened).
Pga Tour, news
The other significant figure concerns assets, valued at a total of $3.8 billion.
The documentation, however, is less detailed in the section dealing with the analysis of the financial situation.
This would be partially justified by the creation, in January of last year, of the organization's profit-making arm, PGA Tour Enterprises.
The operation was purely financial, resulting in the creation of an entity with a $3 billion endowment, half of which was contributed by Strategic Sports Group.
But returning to the Tour's accounts, the Sports Business Journal highlights one particular cost item: Jay Monahan's salary.
Although it decreased compared to 2023 (-17%), in absolute terms, it remained considerable.
The $19.2 million (just under $2 million in base salary plus a significant set of benefits) that Monahan pocketed would place him second on the player money list, second only to Scottie Scheffler, who earned just over $29 million in 2024, winning seven tournaments.
He earned almost double that of Rory McIlroy.
Jay Monahan is expected to exit at the end of next year, when he will have reasonably completed the handover to new CEO Brian Rolapp, but it is equally likely that he will retain a role within PGA Tour Enterprises.
The rules of golf are relatively complicated compared to other sports because they are played outdoors, close to nature and animals. Respecting the rules is a fundamental element in the game of golf, which, almost always based on self-control and the free conscience of the players, often sees distorted results, sometimes consciously, but often unconsciously or through carelessness, due to the failure of many players to comply with the rules of the game. In addition to the rules, golf adheres to a code of conduct, known as etiquette, which generally means playing the game with due respect for the golf course and other players. Etiquette is an essential component of this sport.
