How Much Can AT&T Make Off Tiger and Phil?
This Thanksgiving, two golf titans face off for a $9 million winner-take-all challenge on the links. But with a matchup this big, who’s footing the bill and how much do they stand to make?
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Tiger Woods and Phil Mickelson have been one of the premier rivalries in golf over the past two decades. Now it looks to be the premier event this Thanksgiving when these two titans face off for a $9 million winner-take-all challenge on the links. But with a matchup this big, who’s footing the bill and how much do they stand to make?
AT&T Inc. (NYSE: T) is looking to capitalize on the hype around this event and secured the distribution rights through its recently acquired WarnerMedia — as part of the Time Warner properties deal. There’s no doubt that avid golf fans everywhere will be willing to chip in for this legendary match.
The sport of golf exploded in popularity when Tiger Woods came on the scene and especially during his primetime, although this diminished when he left the sport. Since Tiger has returned, golf is again reaching a level of popularity not seen in years. For example, the PGA Championship in July was the most-watched since 2009.
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Phil Mickelson is no slouch either, with five major tournament wins, the most recent being The Open Championship in 2013. Phil ranks second on the list of career money leaders, according to the PGA, with, of course, Tiger taking the number one spot.
The pay-per-view rates have not come out yet, but the broadcast will be available through DirecTV, U-Verse and Turner’s streaming platform B/R Live. Turner International will handle pay-per-view sales outside the United States.
Shares of AT&T were last seen at $32.70, with a consensus analyst price target of $35.72 and a 52-week range of $30.13 to $39.80.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
