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Bankrupt
Nov 14, 2023 9:22:47 GMT
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Post by klpgaenglish on Nov 14, 2023 9:22:47 GMT
n.news.naver.com/sports/golf/article/037/0000033373Translated by ChatGPT. The article titled "How Much Do Golfers Earn in Prize Money?" from 주간동아 discusses the earnings of golfers, particularly in the context of the Korea Ladies Professional Golf Association (KLPGA) Tour. Key points from the article: 1. **Earnings of Golfers**: In individual sports like golf, a player's earnings are not a salary but prize money won in tournaments. In the 2023 season of the KLPGA Tour, second-year pro Lee Ye-won secured the money title early with earnings of 1.4 billion won. 2. **Prize Money Structure**: In the KLPGA Tour, the winner's prize is typically 18% of the total purse. The SK Shieldus SK Telecom Championship is an exception, with the winner's share being 20% of the 1 billion won total purse. 3. **Season Earnings**: The article discusses several top earners in the KLPGA, including Park Min-ji, who set a record in 2021 by earning over 1.5 billion won in a season, and Jang Ha-na, who is the all-time earnings leader with over 5.7 billion won. 4. **Financial Challenges**: Despite the high earnings of top players, not all tour players are as successful. Out of 123 players ranked in the 2023 season, only 80 earned more than 100 million won. Many players face financial challenges, as costs for participating in the tour (entry fees, caddie fees, travel, accommodation, and training expenses) can range from 100 to 150 million won per year. Lower-ranked players, often without significant sponsorship, can incur financial losses. 5. **Tax and Expenses**: Prize money is subject to taxes and fees. After deducting income tax, resident tax, and operation fees totaling 9.3%, the net amount is transferred to the player's account. For example, earning 1 billion won in prize money would result in a net income of just over 900 million won after deductions. The article highlights the significant financial disparities among professional golfers, with top players earning substantial amounts while many struggle with the high costs of competing on the tour.
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Post by philknj on Nov 14, 2023 18:22:02 GMT
Bankrupt? How about Clickbait?! The article was mostly focused on the high earners. But, back to your title ... I looked up the value of 100m Won earnings in real money ... it's about $77K USD. That's not chump change. Sure, there are a lot of expenses and I don't know the ROK cost of living, but you're in a country slightly smaller than Kentucky ... not exactly a lot of flying required. The article says typical one-year costs including training range from $77K to $115K ... hmmm, you lousy players might want to start bagging your lunch a few times. Or, get a new job.
Google Mush has this at the end of the article:
It is because of this reality that people say, ‘The world of professional golfers is also one where the rich get richer and the poor get poorer.’
Yep, I'll bet this has also happened on the LPGA after all the DEI scolds have browbeaten the sponsors into dump-trucking all this new money into that tour ... hmm, I think I'll look into this to see if it's true statistically.
Touring golf is a glorious mental illness that defies economics for many. Today, I found among the crap in my home a tee sheet given to me by a volunteer at the 2009 USWO qualifier at Neshanic Valley GC. One of names on it is Nannette Hill ... I didn't remember her back then ... and she is still around now ... hanging around the fringes of the LPGA ... I remember her on the Seaview range a few years ago ... teed it up six times on the Epson tour this year, earning $718 USD.
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Bankrupt
Nov 15, 2023 13:33:30 GMT
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Post by klpgaenglish on Nov 15, 2023 13:33:30 GMT
I have a couple of comments and questions.
It seems you think the article's author was lying. The tax rates are public laws. Tournament entrance fees are real or fake?
I agree Korea is pretty small, but hotels on Jeju Island aren't that cheap. Depending on residence, how many nights in a hotel per year?
How much money did Song Ga Eun make this year? 257 Million won. What on earth is she doing taking public transportation ALONE in her uniform after a tournament surrounded by golf fans? Why wasn't she driving in some Mercedes since she's rolling in so much cash? Are there financial incentives to play in Japan vs Korea?
Another question, in Korea players play almost every event. Why is the LPGA events fields so various? What is with these Monday qualifying? Don't they have enough tour players to fill the field?
I read an article some time ago about how hard it used to be for LPGA stars driving around the country trying to reach events.
Those who are passionate and want to win and make money, keep making deep sacrifices to play events. Hoping for that breakout event or season?
The point I got from the article was how expensive it can be to be a pro.
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Post by philknj on Nov 16, 2023 17:03:20 GMT
Regarding lodging, you always hear about "host families" in the U.S. at the regular LPGA tour stops ... obviously, that can be a big money saver ... is that done on the KLPGA? Also, I assume the LPGA tries to squeeze the sponsors for any kind of travel subsidy ... one assumes that the players did not pay the full freight when they stayed in Manhattan and took the ferry to Jersey City for the Mizuho. You'd think some of the ROK resorts that host events would give players a break in exchange for the free publicity.
Regarding Ga Eun Song, I think it was cool that she was alone on a train in her golf outfit! Did she have her luggage and clubs with her? Maybe her car was in the shop. Or maybe her home was near a train stop. You won't see that in the NJ/NY/PA area ... the only event I ever attended that had a train stop within walking distance was the 2022 Curtis Cup at Merion GC (East).
Some (not all) of these players are quite independent ... they don't have daddy hanging around ALL the time. Song may be one them, even though she doesn't turn 23 until next month. An anonymous LPGAer once wrote that Ilhee Lee was one of her favorite players because she did everything by herself ... I'm inclined to believe that ... remember seeing her lug her bag to her rental car with no one else after bombing out her 2011 USWO qualifier.
Song has played three full seasons on the KLPGA big tour ... her earnings:
2021 W513 million 2022 W404 million 2023 W258 million (being "tested" in Japan cut into her opportunities  )
Total: W1,175 million *
* - at today's rate, that's about $908K USD ... one assumes she didn't blow it all by now.
I did some poking around on Naver for an article or interview on Song's motivation for joining the JLPGA, but came up with nothing .... a good little player is leaving the KLPGA and nobody cares.  No doubt, the Japanese media will discover her motivations before the Koreans do. I can only speculate on the reasons ... more money ... more tournaments ... and all your junk gets over-nighted to the next tour stop. Also, there is a "prestige" factor with the JLPGA actively promoting itself as the "it" tour of women's golf in Asia and many non-Japanese players buy it. |
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Post by HappyFan on Nov 16, 2023 18:46:44 GMT
I find it hard to believe that the Korean golfers are struggling all that much financially. Even relatively low level players have multiple sponsorship deals. They used to announce what these were, and even five - ten years ago they were in the neighborhood of 100-200 million won/year. Assuming four - five sponsorships per player and you should be set without making a cent on course.
Unlike in the US, even many of the Dream Tour players have sponsorships.
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Bankrupt
Nov 17, 2023 1:37:20 GMT
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Post by klpgaenglish on Nov 17, 2023 1:37:20 GMT
I find it hard to believe that the Korean golfers are struggling all that much financially. Even relatively low level players have multiple sponsorship deals. They used to announce what these were, and even five - ten years ago they were in the neighborhood of 100-200 million won/year. Assuming four - five sponsorships per player and you should be set without making a cent on course. Unlike in the US, even many of the Dream Tour players have sponsorships. Hope you're right. Curious what the author of the article was talking about if money is so plentiful. Maybe the point of the article is that tour winnings aren't enough to survive and we have to know all the sponsor money is vital. I would expect golf would demand a diligence. For some struggling players, all the money pouring into the sport might overtime create a kind of weaker motivation. "I have a good career and decent money and I'll marry some rich man soon so I don't need to mentally abuse myself to improve and as I'm a tad older I can't compete on the same level as the youngsters." Every golfer is different. |
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Post by johnboy on Nov 17, 2023 9:46:08 GMT
From what I can tell watching the KLPGA, the players on this tour are plastered with there sponsor patches on there clothes and caps/visor. Granted in a few cases its the same sponsor just a different business within that group (Hyo joo Kim with Lotte) but it seems they have 4 - 5 sponsors which I would think pretty much covers there expenses and relieves them of the pressure of making money to survive.
I read an article years ago that journey woman JLPGA players have contracts worth minimum 7Million yen (55K) from there main sponsor and that pays for the travel/ caddie expenses.
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No doubt, the Japanese media will discover her motivations before the Koreans do. I can only speculate on the reasons ... more money ... more tournaments ... and all your junk gets over-nighted to the next tour stop. Also, there is a "prestige" factor with the JLPGA actively promoting itself as the "it" tour of women's golf in Asia and many non-Japanese players buy it.
