More Hurt From the Economic Environment

This from the NY Times:

“The L.P.G.A. will be down two to three tournaments next year and $4 million to $5 million in prize money. Its major concern now is sponsorship renewal and negotiating expanded television contracts for 2010. The Sports Business Daily reported this week that only 5 of the 24 events scheduled in the United States and Canada had contracts with title sponsors beyond next year.”

The PGA is a bit better off, but not by much. They did, after all, have a falling out with GM last week and the car-maker will be eliminating a sizeable chunk of their backing.