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Dollars but no sense

Despite a mammoth payoff, the players decide the FedEx Cup is full of faults


Published: September 07, 2007

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As for their first argument, that too many big events loom at the end of the season, the solution is to take a week off. Stars and even second-tier guys like Scott Verplank have done so already. Or players can skip the WGC-Bridgestone the week before the PGA, or the Wyndham the week after. Or they can play fewer practice rounds, or leave some of that Monday pro-am money on the table, or get a massage.

The second argument, that the prize money shouldn't be deferred, has promise in that $10 million in gold bricks or Susan B. Anthony coins or George Washington's actual hair might look pretty sexy on the tee at East Lake.

But this argument fails for at least two reasons and probably more.

First, the sum. It's not $10 million. It's $10 million earning interest tax-free until the winning player turns 45 or retires. As Richard Sandomir pointed out recently in The New York Times, at 8 percent annual interest, a young man who wins the Cup at 31 (just to throw out a random number, Tiger) will have nearly $30 million waiting for him at 45.

That's being conservative, of course, but Tiger's a conservative guy. Six years older, Mickelson would net a tidy $18.5 million.

"It either has to go all cash, all deferred, or it could be split between cash and deferred, and that was an option that we put to the players," Finchem said this week. "We put to them three basic options. One was all cash, one was all deferred and one was split. Based on multiple meetings and a lot of input, we concluded that not only was it in the best interest of a lot of players, but it was what most players wanted to do. It certainly doesn't have to be that way. I'm sure based on all this commentary it'll be something that will be reviewed."

It shouldn't have to be.

The second big argument for a deferred payout is the type of players who are going to be winning the FedEx Cup. Pros like Omar Uresti and Jay Williamson could use $10 million in one lump sum, but Woods needs cash like an eskimo needs ice. He's joked that he might be dead by the time he gets to collect the money, and while that seems unlikely, whether he's dead or alive the prize is likely to end up in the same place, with his heirs.

Els and Mickelson aren't exactly light in the wallet, either. You might think they'd appreciate a way to keep Uncle Sam's mitts off their great grandkids' snowballing inheritance. Apparently not.

Here's an idea: If they want a huge pile of cash on the tee, let's stack it there, then put it back in the Monopoly game. No one will be the wiser.

As for the complaint that players weren't consulted on the FedEx Cup, it only goes to show you the limitations of even the most exhaustive meetings.

"Now, over the last six months," Finchem said, "we've discovered that a lot of players, regardless of the amount of information that might have been discussed, didn't necessarily for whatever reason want to pay much attention to it."

Good point. Here's another one Finchem ought to send Priority Overnight:

With just a little more complaining about their tiring schedule (what with school starting for the kids and all) and the untidy $10 million first prize, players will ensure that they won't be the only ones tuning out.