PGA Tour: Playing Under Pressure

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[00:02:27] - [First question] - What the PGA Tour is, it’s size today, and how it generates revenue

[00:06:04] - Defining what the Tiger Tax is and its implications 

[00:08:04] - When the PGA Tour was founded and the key moments leading up to today

[00:15:40] - Changing the format of the Tour into a non-profit 

[00:17:24] - Being a member run organization and player influence over the board

[00:18:23] - Overview of the business structure and model of the PGA Tour 

[00:22:27] - Reasons for the 72 hole stroke play format  

[00:24:43] - The distribution of over a billion dollars of revenue

[00:27:59] - Why their capital allocation is unique and their incentive programs

[00:31:37] - Unique pension structures of their deferred compensation plan

[00:34:30] - The Champions Tour as a secondary way to make a living after the PGA Tour

[00:36:07] - Rival SGL and PGL tours and why they are trying to disrupt the PGA Tour

[00:44:42] - Having a legacy name advantage to bring players and capital in 

[00:47:47] - Relying on growing viewership, ratings, and new sponsors over time

[00:52:48] - Paths to becoming a more successful tour amidst the new startup tours

[00:55:07] - Netflix’s partnership with the PGA Tour to try and bring in new viewers

[00:56:54] - The most surprising lessons about the PGA Tour he’s learned