Well, the Sunday Business Post has compiled a list of golf's top money-earners in 2010, and it's full of familiar names. One thing they all have in common: They've all generated income via golf design, even if their designs weren't actually built.
Here's the Post's list, along with my edited version of the newspaper's comments about each member of the top 10. For the full monty, read “Golf's Biggest Hitters.”
1. Tiger Woods
On-course earnings: $2.3 million
Given the scandal he was embroiled in 18 months ago and the mediocre season that followed, it shouldn’t be a surprise that Tiger Woods’ overall earnings of $74 million were his lowest in a decade. Compared to 2009, when he made $121,915,196, Woods took a $48 million pay cut last year. . . . His prize money of $2.3 million was his lowest return since turning professional. . . . According to Forbes, Woods’ net worth is estimated at $500 million. The golfer has earned $130 million in career prize money and $900 million in revenue from endorsements, appearance fees, and his golf course design business since 1996.
2. Phil Mickelson
On-course earnings: $4.2 million
Off-course earnings: $36 million
Since turning pro in 1992, Mickelson has won prize money of $64 million -- more than anyone else, with the exception of Woods and Vijay Singh. Like Woods, however, Mickelson earns far more from commercial endorsements and private investments. Forbes’ recent rankings of the world’s wealthiest athletes placed Mickelson fifth, while Fortune claims that he is the second-richest sportsman in the world. His portfolio of deals stretches from banks to oil companies and includes a deal to promote Rolex watches. His most lucrative deals are with Callaway, which manufactures his playing equipment, and accountancy giant KPMG. He also has relationships with Barclays Bank and Exxon Mobile.
3. Arnold Palmer
On-course earnings: $0
Off-course earnings: $36 million
Generally regarded as one of the greatest players in the history of the sport, Arnold Palmer retired from professional golf in 2006
yet sits third on the list of golf’s high earners. This is a testament to the impact that the 81-year-old has had on the sport since winning his first professional tournament in 1955. . . . He helped to found the Golf Channel and acts as a consultant for the television station. Nicknamed “the King,” Palmer also negotiated the deal to build the first golf course in China. . . . Since 1971, he has owned Latrobe Country Club in Pittsburgh, and he is a part-owner of the renowned Pebble Beach course in California. Palmer has commercial interests with Rolex, Ketel One vodka, and aircraft company Cessna. He is also attached to several golf apparel labels, including Callaway, Lamkin, and E-Z-GO.
4. Greg Norman
On-course earnings: $9,270
Off-course earnings: $30 million
Although Greg Norman had a quiet 2010 playing season, the Great White Shark remains one of the sport’s highest earners due to a wide range of business and commercial interests. . . . Norman remains Australia’s wealthiest sportsman, with an estimated net worth of almost $300 million. . . . He was one of the first golfers in the world to capitalize on his brand and popularity, establishing his own line of sportswear in the early 1990s. Since then, his company, Great White Shark Enterprises, has diversified into a range of other industries, most of which are focused on golf and lifestyle. . . . He also has his own golf academy and a burgeoning turf business, which has provided grass seed and turf for events ranging from the Super Bowl to the Olympic Games. Then there is Greg Norman’s Australian Grill, a grill company he established to rival the George Foreman Grill. Norman also has a wine company which produces 3 million bottles of wine each year and a separate company that produces 90,000 kilograms of beef a year.
5. Jack Nicklaus
On-course earnings $175,000:
Off-course earnings: $25 million
Despite retiring six years ago and teeing off in only a handful of invitational golf tournaments last year, the man who usurped Palmer as the sport’s greatest player has remained in the top five high-earners due to his vast empire of commercial interests. . . . Named after his moniker, Golden Bear [International] is a conglomerate of golf-related businesses owned by Nicklaus. It runs golf instruction and practice centers, licenses Jack Nicklaus brand clothing and golf accessories, operates the Golden Bear Tour, and consults with golf course construction firms.
6. Jim Furyk
On-course earnings: $16.3 million
Off-course earnings: $7.3 million
After no wins for more than two seasons, Jim Furyk enjoyed a sensational season last year, with three wins on the PGA Tour helping him secure the PGA Tour Player of the Year award. . . . His on-course winnings of more than $16 million was far greater than any other golfer in 2010. . . . Furyk is the brand leader for Srixon, which designs his golf gear, along with Taylor Made, Adidas, and Chilliwear, which look after his on-course attire. He retains a long association with Reeses, Johnnie Walker, and Marquis Jet.
7. Ernie Els
On-course earnings: $7.5 million
Off-course earnings: $14 million
He is the leading career money winner on the European Tour and was the first member of the Tour to earn more than 25 million euros from European Tour events. With 64 professional wins, including three major championships since he turned professional in 1989, he has earned prize money of $47 million from golf. In 2007, he signed a multimillion-dollar deal with Calloway, which makes his clubs and provides his sports gear. He is also global ambassador for software giant SAP. In recent years, his biggest earner has been Ernie Els Designs, his golf design company. . . . He recently went into partnership with a South African wine company to develop Ernie Els wines.
8. Gary Player
On-course earnings: $14,350
Off-course earnings: $15 million
Like three of the top five high earners, Gary Player cements his place as one of the sport’s wealthiest beneficiaries without even having to swing a golf club. . . . His business interests are represented by Black Knight International, which includes Gary Player Design, Player Real Estate, and Black Knight Enterprises, aspects of which include licensing, events, publishing, wine, apparel, and memorabilia.
9. Lee Westwood
On-course earnings: $9.2 million
Off-course earnings: $5.5 million
Following a memorable 2009 season, Lee Westwood ended the reign of Tiger Woods by being crowned world number one last season. . . . Westwood’s total prize money stands at nearly $40 million. He has yet to win one of his sport’s majors but has come close several times. . . . Jaguar and French watchmaker Audemars Piquet handsomely reward Westwood for promotion of their brands, while deals with Oceanico Prestige Residence Club and financial services firm NYSE Euronext have also helped swell the 38-year-old’s bank balance.
10. Luke Donald
On-course earnings: $8.3 million
Off-course earnings: $4.2 million
Donald, in his 10th professional season, is now the top-ranked golfer in the world. . . . His $8.3 million prize money for the 2010 season was accumulated through a series of impressive performances, notably victory at the Madrid Masters. . . . His success over the past 18 months has helped his on-course career earnings soar to more than $26 million. He has had lucrative sponsorship deals, including one with the Royal Bank of Scotland that earned him $1.3 million in two years. . . . The bulk of his endorsement earnings derive from a multi-year contract with Mizuno.
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