In evaluating the first year of the FedExCup, the Policy Board did not feel the need to make fundamental changes to the overall structure of the competition. Accordingly, no changes have been made in the points distribution in the PGA TOUR Regular Season.
The Policy Board will continue to assess the point structure as it relates to the reseeding and points distribution throughout the Playoffs, in order to consider ways we might create more volatility and keep more players in contention for the FedExCup at THE TOUR Championship presented by Coca-Cola. We will be seeking more feedback from the PAC and the membership between now and making a final determination on these matters at the February meeting.
4) Tournament Cuts
The Policy Board also approved a change in the regulation pertaining to the 36-hole cut at tournaments. Currently, the cut following the second round is to the low 70 professionals and ties. Under the new regulation, the cut will continue to be to the low 70 professionals and ties, unless that results in a weekend field size of more than 78 players. Under that circumstance, the cut would be made to the number closest to 70.
5) Retirement Plan/Deferred Compensation
The Board has approved a change to the distribution of the $35 million FedExCup bonus pool, whereby it no longer will be 100 percent deferred. Beginning in 2008, $16.5 million in cash will be paid to the top 10 finishers and the remaining $18.5 million will be paid on a tax-deferred basis into the Retirement Plans of the top 150 players. The maximum tax-deferred-payment amount will be $1 million to the winner of the FedExCup, who will also receive $9 million in cash, for a total first place payout of $10 million.
This decision was part of a comprehensive evaluation that was conducted in regard to the payout structure of the FedExCup. This new formula is consistent with the earning projections previously provided to our members under the Retirement Plan.
6) PGA TOUR Anti-Doping Program
The Policy Board has approved the PGA TOUR's Anti-Doping Program. The TOUR's primary objective is to have a credible program that will aggressively deter the use of any prohibited substance. The key elements of the program include extensive player outreach and education; a comprehensive list of prohibited substances and methods; therapeutic use exemptions; a testing protocol and procedure; and guidelines governing sanctions and program administration. A summary of each of these significant elements follows.
Player Outreach and Education
The TOUR's Anti-Doping Program will be implemented on all three Tours, on a phased-in basis. On the PGA TOUR, player education and outreach will begin in December 2007 and extend through June 2008, with testing beginning no sooner than July 2008. The education phase will commence on the Nationwide Tour in mid-2008, with testing to begin in late 2008. On the Champions Tour, education will begin in January 2009 and testing will be implemented in mid-2009.
PGA TOUR players will receive an Anti-Doping Program Manual in early December 2007. The manual will contain significant detail about all aspects of the Program. Additionally, players will have 24-hour-a-day confidential access to medical and program advisors who can respond to any questions relating to specific substances, medications or testing procedures.
The player education process will include weekly player education sessions at tournament sites, beginning in January at the Sony Open in Hawaii. Medical experts will also be available on a weekly basis for one-on-one meetings with players. You may also include family members and support staff (managers, trainers, nutritionists, physicians, etc.) in any of the educational sessions offered. A mandatory player meeting will also be scheduled at the 2008 Buick Invitational, at which time the Program will be covered in comprehensive detail.
