Presidents Cup announces record charitable amount of $10.7 million from 2017 event
JERSEY CITY, NEW JERSEY, DECEMBER 21: The PGA TOUR today announced that more than $10.7 million from this year’s Presidents Cup will be distributed to charitable causes around the world as chosen by the 34 players, captains and captain’s assistants, a record-setting amount for these prestigious competitions. Since the inception of the Presidents Cup in 1994, more than $49.1 million has been generated from event proceeds. Over the past 23 years, the Presidents Cup has impacted more than 450 charities in 16 countries worldwide.
The Presidents Cup, a team match-play competition featuring 24 of the world’s top golfers – 12 from the United States and 12 from around the world, excluding Europe – is held every two years, and since 1996 has alternated between venues in the United States and around the world. In October, the U.S. Team retained the Cup from the Internationals with an impressive performance at Liberty National Golf Club, located in the shadow of the Statue of Liberty across the Hudson River from New York City.
The Presidents Cup is a unique golf event in that there is no purse or prize money. Players are not paid for their participation; instead, each player, captain and captain’s assistant allocates an equal portion of the funds generated to charities of his choice. This year, that portion was $150,000 per participant.
“Staged in arguably the most global and diverse city in the world, the 2017 Presidents Cup will go down as one of the most impactful of all time,” said PGA TOUR Commissioner Jay Monahan. “From having three past U.S. presidents on the first tee on Thursday to having the sitting U.S. president hand over the Presidents Cup to the winning team for the first time, the Presidents Cup as a celebration of golf reached new heights. With today’s announcement of $10.7 million to charities around the world, we are also able to celebrate the new heights achieved by the event’s commitment to charitable giving.
“I’d like to thank every player, captain and the captain’s assistants for putting on a great display of camaraderie, sportsmanship and competitive fire earlier this fall, and also for reaching into their communities and to charities around the world to put these dollars to good use.”
As part of the funds generated as a result of the event, a $5 million commitment to The First Tee over five years (beginning in 2015) came from Paul Fireman and Liberty National, with half of that amount earmarked for programs in the New York/New Jersey area: The First Tee of Metropolitan New York; The First Tee of Raritan Valley; The First Tee of Monmouth & Ocean Counties; and The First Tee of Greater Trenton.
“I’d also like to thank everyone involved in the 2017 Presidents Cup for bringing the event to life and allowing our charitable impact to exceed all expectations: President Donald J. Trump for lending his support of the Presidents Cup by serving as honorary chairperson; Citi, Alfa Romeo and Rolex for their support of the Presidents Cup as exclusive Global Partners; Charlie Zink, chairman of the Presidents Cup and 30-plus year employee of the PGA TOUR; the Greater New York/New Jersey Metropolitan Area; the Official Host of the 2017 Presidents Cup, Liberty National Golf Club and the Fireman Family,” Monahan added. “This $10.7 million will make an incredible impact on countless lives, and it will serve as the new benchmark as we look forward to another impactful and memorable Presidents Cup in 2019.”
To follow is a history of charitable contributions from the Presidents Cup:
1994 – $750,000
1996 – $800,000
1998 – $2.9 million
2000 – $2.8 million
2003 – $2.8 million
2005 – $3.5 million
2007 – $4.2 million
2009 – $4.8 million
2011 – $4.75 million
2013 – $5.01 million
2015 – $6.12 million
2017 – $10.7 million
Total – $49.1 million