The PGA Tour has put together a new four-year deal (2003-2007) with three television networks and three cable outlets worth $900 million, a 55 percent increase over the current package, the Wall Street Journal reported Tuesday, citing individuals familiar with the deal. The newspaper noted that Tour execs had been hoping to get $1 billion but that slumping ad spending and lack of competition among the networks for the broadcast rights tempered the increase. The newspaper observed that, thanks to the popularity of Tiger Woods, golf is the only sport that has increased its audience in recent years, while ratings for other sports have been marked by sizable erosion.
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