By BRANDON PARKER
bparker@beaufortgazette.com
843-986-5536
For the first time in the Verizon Heritage’s already-rich history, a victory at Harbour Town Golf Links will make one fortunate golfer into a millionaire.
The $1.02 million prize awaiting this year’s winner is a far cry from the $20,000 awarded to Arnold Palmer when he won the inaugural Heritage in 1969, but of course, much has changed since then.
Contractual obligations with the PGA Tour require the Heritage to increase its purse each year, which the event accomplished for the 17th straight campaign, this time upping the total prize money from last year’s $5.5 million to $5.7 million.
Yet with countless economic woes tearing through America, one can’t help but wonder how golf tournaments like the Heritage can support this windfall of cash.
And at several points leading up to this year’s event, tournament director Steve Wilmot found himself asking the same question.
“For me to say there was never a concern of us meeting our obligation of upping the purse would be a lie, because that definitely wasn’t the case,” Wilmot admits. “We had a lot of discussion about a lot of things with sponsors and the tour because we’re behind in ticket sales, sponsor sales, pro-am numbers and other areas. But we’ve still been fortunate to find enough continued support.”
According to Wilmot, about 64 percent of the Heritage’s purse is drawn from television contracts, which got a slight bump this year thanks to the event garnering four more hours of coverage for a total of 16 hours.
That percentage leaves the tournament on the hook for approximately
$2.05 million.
In this remaining pool, the greatest monies are drawn from Verizon, its title sponsor which is entering the third year of a five-year contract with the Heritage. Also key is the Heritage Classic Foundation, which Wilmot said has taken quite a few risks to provide financial stability and direction for the tournament.
At the close of each event, the Foundation distributes revenues to various charities, universities and medical organizations, with more than $15 million having been donated since it was organized and a record $1.8 million doled out last year.
Additionally, with this tour event being the only in South Carolina, typically infusing $84 million into the state and drawing around 135,000 fans each year, local business and charities certainly find themselves salivating for this one week.
And by Wilmot’s estimation, the potential for a spike in sales lies greatest with the concession booths, which likely will reap monies from the decline in skybox, free tickets and hospitality areas provided by sponsors.
But not even these encouraging signs can fully solve issues like a substandard sponsorship return rate that, just last month, was nearly $100,000 behind last year’s pace.
“I’ve had some of the sponsors that left us tell me, ‘Hey Steve, the return on golf is incredible as is the investment and charity component, but we just can’t be here this year,’ ” said Wilmot, who is also executive director of Heritage Classic Foundation. “The value of golf is something that people still see, but we’re also sensitive to those who do support us in such tough times.”
It’s safe to say planning this year’s event has been a bit more stressful for Wilmot and his staff, but all things considered, you won’t hear Wilmot complaining.
As a member of the staff for the past 23 years, Wilmot considers it a privilege to be part of an event that donates a million-plus dollars to a good cause as well as one that simply offers thousands of fans a unique blend of camaraderie and fun.
“It’s kind of like all the people who get together for the Super Bowl,” Wilmot said. “Half of the people don’t know who’s playing or even watch football, but ultimately, the event and the gathering it brings is good for morale and team spirit.
“So we’re just fortunate to be a part of something like that and to continue holding this weeklong activity, when, for those moments, the eyes of the world are on us.”
