|Tiger King of Appearance Fees and Prize Money|
|Subject||Demand for labor|
|Key Words||Appearance fees, prize money|
Tiger Woods expects to make at least $10 million in appearance fees in 2001 and early 2002. He reportedly made $2.5 million to play in the SAP Open in Heidelberg, Germany, in May 2001, although he also had to participate in other activities such as a news conference, a "shoot-out" with his fellow pros, a pro-am, and a "Beat the Pros" competition.
Tiger's fees easily surpass those of other golfers. Mickelson, the world's number two golfer, makes only $200,000 in appearance fees. Greg Norman, in his prime, used to make $200,000-$250,000 in the mid-1990s. However, Tiger's fees are lifting those of other golfers too.
Such fees are on top of prize money. Tiger earned a record $8.2 million in 2000. Other golfers benefit because Tiger's success raises the profile of the event, attracting sponsors and crowds. More than $180 million is now given in prize money on the PGA Tour and the World Golf Championships schedule.
The PGA Tour, which does not permit appearance fees, has been hurt by top golfers who desert certain events for more lucrative engagements overseas. Now, golfers have to request permission to skip an event, and give 45 days notice. Only a few top golfers are allowed to miss each event.
(Updated July 1, 2001)
|Source||Jill Lieber, "Tiger pushes appearance fees sky high," USA Today, May 18, 2001.|
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