Tiger Woods' net worth received an estimate on Sunday: $15 billion.
Golf.com reported that the industry stands to lose an exorbitant amount of money if Woods is sidelined for a significant period of time.
It reported that besides the 7.8 television rating for the 2014 Masters that was the lowest rating in a decade, the price of a single-day ticket to the Masters dropped from $1,165 to $940 after the announcement of Woods' withdrawal from the event to have back surgery to correct a pinched nerve in his back.
The drop was nearly 20 percent. Neal Pilson, the former president of CBS Sports now founder of Pilson Communications, said Tiger's absence at the Masters did not hurt advertisers who bought time during the event more as a prestige buy than a ratings buy.
In fact, Golf.com states, advertising rates four Tour events are unlikely to change because most of the deals are multi-year agreements. But the longer Tiger stays away, the more likely dwindling ratings will appear.
Brad Adgate, senior vice president and director of research at Horizon Media, told Golf.com that the 25-30 percent ratings drop that normally takes place when Woods is not participating in a PGA Tour event, would eventually take a toll.
"Adgate and other analysts say it's impossible to a put a precise price tag on Tiger's absence," according to Golf.com. "But if we do the math and arrive at a ballpark number in a golf industry valued at around $68.8 billion, it pencils out at roughly $15 billion. Gulp!"
Rick Harrow, CEO of Horrow Sports Ventures, said he thinks the sport would be able to survive because it would make those connect with the financial aspect of the sport have to come up with creative ideas to make up for the lost money left by Tiger's absence.
"Life without Tiger can be effectively good for the industry," Horrow says. "It gets promoters, sponsors and TV executives thinking more creatively, working to cultivate a greater understanding and appreciation for the inherent excitement, tradition and allure of golf."
Good luck with that, Golf.com responded.
"That's a nice thought, but in the meantime: Tiger, get well soon," it stated.
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