The Morning Punch Out - March 30, 2020

March 31, 2020

Welcome to The Morning Punch Out! Your guide to the day in golf.


PGA Tour Offering Cash Advances To Players

PGA Tour players will have the opportunity to borrow money against their projected FedEx Cup year-end payout, commissioner Jay Monahan explained in an email and video sent to players last week.

Players ranked No. 1 through 150 in the current FedEx Cup standings will be eligible to receive 50% of their projected year-end bonus payout, capped at $100,000, based on their standing as of March 8. The 31st-ranked played in the standings made $200,000 last year in bonus money, which means the 31st-ranked player currently — Danny Lee — could take his full 50% advance of $100,000 if he so chooses.

If a player fails to make back the money advanced to them via the end-of-the-year payouts, those outstanding funds would be deducted from future paychecks.

"From the start, we have pledged to listen and be responsive to the needs of our players in this unprecedented time, when events are canceled and our members’ ability to compete on the field of play—their livelihood—is on hold," the Tour said in a statement. "Through the support of our Policy Board and Player Advisory Council, we’re pleased to have found a creative solution to advance payments to players for current and future performance and/or services, which is consistent with our business model."

Caddies will also have the opportunity to get advances as well. The Tour will allow for a partial mid-season distribution of an endorsement program, and caddies will be allowed to make financial requests to the Caddie Benevolent Fund, according to Rex Hoggard of GolfChannel.com.

Tokyo Olympics Set New 2021 Date

The 2020 Tokyo Olympics, which are now taking place in 2021, have officially set their dates — July 23 through August 8 — almost exactly one year later than their originally-scheduled fortnight.

"The (International Golf Federation) commends the IOC and Tokyo 2020 for the swiftness of this decision to announce the new dates for the staging the Olympic Games," the IGF said in a statement. "The IGF believes these dates provide the best opportunity for our athletes to compete in a safe environment as well as enabling the Games to fit into the golf calendar for 2021, thus ensuring the best possible field for the Olympic Games."

The golf event dates haven't been officially set, but basing them off of the original dates would be July 29-August 1 for the men and August 4-7 for the women.

“With the new guidance from the (International Olympic Committee) regarding the dates of the Olympic Games, the Tour will work with the IGF and the IOC to ensure the Olympic Golf competition fits within the 2021 PGA Tour schedule,” the Tour said in a statement.

The 150th Open Championship is scheduled for July 15-19, 2021 at the Old Course at St. Andrews.

Larry David Begins Riviera Caddie Relief Fund

Larry David, the creator of Seinfeldand Curb Your Enthusiasm, along with his friend Larry Braun, have come to the aid of out-of-work caddies at the comedian's home course, Riviera Country Club.

Launching a GoFundMe page last week, David and Braun set a $100,000 goal with a simple message: "With the golf course closed indefinitely, the Rivera caddies need our help. Please contribute to help our caddies get thru this unprecedented time."

The $100k goal was met over the weekend, and the goal was raised to $150,000.

Heavy Hollywood hitters have led the way, according to The Hollywood Reporter.

Tom Brady ($2,000), Ari Emanuel ($1,000), Sony’s Josh Greenstein ($500), producer David Friendly ($500), Centerview Partners’ Skip Paul ($2,500), UTA’s Peter Benedek ($1,000) and Jay Sures ($500), entrepreneur Richard Rosenblatt ($1,000), entertainment attorney David Aronoff ($1,000), Oaktree Capital's Bruce Karsh ($1,000), Dean Factor ($1.000) and Andrew Friendly ($500) joined David ($5,000) and Braun ($1,000). The largest donation came from Margaret Perenchio, wife of billionaire businessman Jerry Perenchio, who made a $10,000 pledge.

Augusta National Donating $2 Million

Despite closing the club and postponing the first major of the year, Augusta National Golf Club is trying to do its part amid the coronavirus outbreak. ANGC is donating $2 million to relief efforts — $1 million to Augusta University's coronavirus testing and another $1 million to the Emergency Response Fund.

“It is our hope these gifts will help address the many challenges brought about by the coronavirus throughout the City of Augusta and the greater region,” ANGC chairman Fred Ridley said in a statement. “We believe Augusta National has an important responsibility to support and protect the community who has so generously and consistently supported us for many years. We are grateful to the Community Foundation for their continued partnership during this unprecedented time and especially appreciative to the dedicated healthcare providers, first responders and many others working tirelessly to fight the effects of this pandemic. They are truly leading this important charge, and we hope these contributions will inspire others to support their efforts.”


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