PGA TOUR COMMISSIONER TIM FINCHEM spoke last Thursday on the state of the PGA Tour
wrapping up business from 2009, while he looked ahead at 2010 and in some cases beyond
next year.

The first topic to nobody's surprise, was to address what the current Tiger Woods situation and
what effect it was having on the tour if any.

Finchem started by saying, when Woods stated he was stepping away from the game of golf
to address his personal issues, the tour released a statement in support of that. But in moving
forward, Finchem addressed the facts about the impact that Tigers Woods does an does not have
on the PGA Tour.

It's unfortunate that some uneducated media, mostly those who don't play the game, don't like the
game, or understand the game, or are just lazy when at tournaments to go find good golf stories
other than Woods. Think the end of the PGA Tour, is upon us all with no Woods in the field. Nothing
could be further from the truth. Like all sports, the game is bigger than one person or player. It always
will be. Golf has always developed the next star, it will again.

Did Finchem really say, no Tiger no problem. Of course not, but a PGA Tour without Woods will not
force anybody down in Ponte Vedra Florida, where the tours corporate office resides, to board up
the windows and lock the doors anytime soon. What he did spell out, were several facts about
where the tour is with or without Tiger.

"For the last 13 years Tiger Woods has been a positive asset for the PGA Tour," Finchem said. "He
has been good for golf and the game of golf has been good for Tiger. I believe that relationship will
continue when the time is right."

But Finchem was quick to add that tours biggest concern is not the Woods fiasco, but the economy.

In spite of some bankruptcies that effected the tour. Finchem called 2009 in the sponsorship area,
"not only a good year, but a credibly positive year."

Finchem wasted no time cutting the head off the monster that said, no Woods no sponsors by listing
what was new on sponsor front. The Accenture World Match Play Championship has re-upped it's
contract with the tour through 2014. That's Accenture as in, we used to use Woods in our ad's before
we dropped him.  Zurich Insurance/New Orleans tournament has extended it's deal through 2014,
the Bridgestone World Golf Championship at Firestone now runs through 2014. The Travelers event
in Hartford is now on board through 2014.

The good news on the sponsorship front didn't stop there. The first HSBC event in Shanghai China in
November was a success. While the tour lost a long time event the Buick Open in Michigan, it was
quickly replaced by a new event The Greenbrier Classic. That will be played at the historic Greenbrier
Resort in late July, ending on August 1st. This event runs through 2016.

The Mercedes Championships, that kicks off the PGA Tours season in January at Kapalua Maui will
see a sponsorship change too. As Mercedes drove off into the sunset, SBS broadcasting jumped in
and took over the parking spot for the next ten years through 2019. The good news continued when
the tour and John Deere, extended it's agreement in December through 2016 in the Quad Cities of
Western Illinois.

The tour got another December present when, Waste Management Inc. jumped in to replace FBR at
the Phoenix Open through 2015. BMW this past week signed on for two more years through 2014.
To have it's event, played mostly in the past and upcoming years in Chicago at Cog Hill, remain with
the tour. Finchem also announced a brand new partnership with Sony. That will bring 3-D television
to PGA Tour golf, starting at the Sony Open in 2011.

The tour within a couple of weeks will also announce a new long term agreement with Coca-Cola,
to continue to sponsor the PGA Tour Championship in Atlanta. The Southern Company that has
involvement with the tour championship, and sponsors the Payne Stewart award, has just signed on
for six more years as well. Three or four other long term sponsorships are nearing the completion
stage as well, they should be announced early in 2010.

Three tournaments will probably not have title sponsors in 2010. There are on going discussions
that could change that however. Finchem called the Memphis tournament, the Bob Hope Desert
Classic (Palm Springs CA),  and the San Diego tournament in bridge situations. But the events
will run with a full purse and field. Finchem said there is no concern about these events long term,
because there is so much interest from potential sponsors who want to come on board.

San Diego which is held at Torrey Pines where Woods won the 2008 US Open, is the only event
of the three tournaments in which Woods plays in. 

When it comes to TV ratings Finchem broke down the cumulative audience, which is how the tour
sells it's sponsorships.

"The cume ratings represent the number of people that come into the broadcast over four days,"
Finchem said. " Year in and year out we are second to only the National Football League (NFL),
that's because our event runs four days in terms of the people who spend time with our telecast."

The Nielsen ratings show in 2007 the PGA Tour had, 26 million people average per week during
the course of it's season for tour telecasts. In 2008 without Tiger most of the year, the number
was still 26 million. In 2009 the number was 29 million. 2009 showed a 28% increase in activity
on PGA Tour.com, with that interest according to Finchem peaking late in season, around the
time of the Fed Ex Cup (won by Woods). Long after Woods had returned to the tour.

Finchem was also pleased that tour will have a full schedule in 2010, with what he calls a "slight
increase" in purse money. A figure that was expected to go down.

In terms of charity money, Finchem expects to rebound in 2010 after having figures drop a little
in 2009.

Finchem also addressed the Woods factor in regards to charity figures. The top six tournaments
on the PGA Tour in terms of charity donations and or money raised for charity, have something in
common. None of them have seen Woods for at least five years.  How does that happen, how do
the 31 PGA Tour events that happen each year with out Tiger survive. Simple Finchem says," they
provide good product and have players in them the people want to see."

As far as the doom and gloom cast over ratings, that won't happen with a missing Tiger. With
Tiger out of action because of his knee surgery for most of 2008, the PGA Tour had record ratings.

Finchem admits the rating increase in 2009 has "something to do" with Woods winning six times,
but also the strength of the Fed Ex Cup. Finchem says the tours success has to do with it's business
model, while adding it's tougher to make that model work right now. Number one because of the
economy, number two not having the number one player playing, "is not a positive thing."

Does Tiger not playing hurt TV ratings, Finchem says yes. But the bottom line is that Tiger provides
a Sunday spike when he is in contention, Finchem says he wants that spike and the attention Woods
brings to the sport. But he sums up 2010 by saying, " we will have a successful year whether Tiger is
out eight weeks, eight months or the entire year. But the level of success will not be as high without our
number one player, no sport is. But he doom and gloom needs to go away because it's misleading
to our fans."

Credit Finchem with spinning things in a positive light for the PGA Tour going forward, for as long as
it has to without Woods. But there are certain facts that he made clear, most tournaments survive every
year with out Woods. In 2010 the players will be out on tour, the sponsors will be there, the fans will be
there, the TV networks will be there. The only question is will Tiger be there, whether he is or not the
PGA Tour will move on, go forward and continue to grow.

The tour is here to stay, it's not going out of business, and the next Hogan, Palmer, Nicklaus, Watson,
Norman or Tiger is just waiting to emerge.