This was a little bit of a shock," Watts told the Northwestern Florida Daily News. Watts' involvement lessened after selling the company to Wellspring Capital Management LLC in 2003, and further decreased when Sun Capital Partners bought it in 2007.
Tuesday, November 5, 2013
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Sun Capital Partners, the private equity firm that owns Edwin Watts Golf Shops, filed for Chapter 11 bankruptcy protection on Monday, November 4. According to Reuters and papers filed in U.S. Bankruptcy Court, the company based in Fort Walton Beach, Fla., has obtained a $38 million loan from PNC Bank, which is owed $50 million in a secured financing agreement, in order to remain operating during the bankruptcy proceedings.
In a news release, Edwin Watts president and CEO John Watson faulted stagnancy in the golf industry and a year of poor weather for the company's troubles. Also noted in the release is that the company spoke with potential buyers before filing for bankruptcy, and still hopes to come to an agreement on a sale before the end of the year. Edwin Watts, who founded the company with his brother Ronnie in 1968, could be a potential buyer along with a group of investors.
This was a little bit of a shock," Watts told the Northwestern Florida Daily News. Watts' involvement lessened after selling the company to Wellspring Capital Management LLC in 2003, and further decreased when Sun Capital Partners bought it in 2007.
"We were an extremely profitable company every single year we were in business. We had great people, they were well taken care of, our customers were well taken care of. We did a lot in the community. Everything was great."
Edwin Watts valued its assets and liabilities somewhere between $100 million and $500 million in the bankruptcy filing. The company currently sells brand name golf equipment online, in a catalog and in 90 stores in 15 states, the highest concentration of which is in the southeastern United States. It is highly likely that some stores will close when the company is sold.
"We don't know how the process works, but we do have an interest in possibly pursuing the company," added Watts. "I think the company is going to survive and we hope to potentially figure out a way to get it back."
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In this week's Golf World Monday,Tim Rosaforte reported Tom Lehman flew home to Tempe, Ariz., to attend his son's final high school football game after the second round of the Charles Schwab Cup Championship on Friday. He flew back to San Francisco and shot Saturday's low round, a 65, on his way to a T-9 in the Champions Tour finale.Rosaforte noted Lehman could have been in contention for the tour's season-long points title had he not missed three other events to see Thomas quarterback for Notre Dame Prep. Not that Lehman seemed to mind one bit.
It means a lot to him," Lehman said. "With kids, you don't always know what they're thinking. But I do know after the games are over, the first person he's looking for is me."
Lehman's latest act reminded us of several other examples of pro golfers putting family first this year. Take Hunter Mahan, who didn't win a tournament during the 2013 PGA Tour season, but who will be remembered much longer for what he did when he had a chance to win.
The 36-hole leader at the Canadian Open in July, Mahan got a call saying his wife, Kandi, was going into labor with the couple's first child.He hurriedly left the practice range -- and a potential big payday -- and flew home to Dallas in time for the birth of Zoe.
"It was a wild day, but you know, I wouldn't change it for the world, so it was a great, great experience," he said.
Phil Mickelson traveled home to San Diego for his daughter Amanda's eighth-grade graduation on the eve of the U.S. Open. He flew back overnight for his first-round tee time and grabbed the lead, but wasn't able to close the deal on Father's Day. Sometimes the story is too good to be true, but his long distance balancing act won't soon be forgotten.
And then there was Tiger Woods, who seemed most content this year not when he was collecting any of his five trophies, but when he was holding his children instead. Charlie, 4, and Sam, 6, saw their dad at work for the first time this year, and both wore red shirts on Sunday to match the World No. 1.
We're sure there were plenty of other examples, but you get the point: these four guys all had satisfying years. Oh, and they also played some decent golf.
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Caddie call for 2014 NZ Open at The Hills and Millbrook Resort
Social and serious golfers are being asked to “take part in the action” at the 2014 New Zealand Open tournament held at The Hills and Millbrook Resort Golf Clubs in Queenstown (February 27 – March 2 2014).
An iconic sporting event returning to Queenstown, the New Zealand Open will be played in a Pro-Am format incorporating 132 professional players and 132 amateur players over the first two days.
Over 150 caddies will be required for the tournament, a tier one event on the PGA Tour of Australasia.
Caddy Master Andrew Whiley said while there were a number of returning caddies, there’s still plenty of places available for those keen to take part.
“With the extended tournament next year played across two courses we need more caddies than previous years, so we’re putting the call out now to anyone interested in being part of this phenomenal event,” said Mr Whiley.
“Caddies need to have some golf knowledge but most importantly they need to be fit, keep up with the players and carry a tour bag around the course,” said Mr Whiley.
“Caddies do receive payment depending on how well the player plays, and if the Pro makes the cut, however it’s really about the taking part and being involved in the play.”
Mr Whiley said at last year’s event most caddies received $50 per day on average and “usually end up with some extra golf balls to take home”.
“This is such an amazing opportunity for budding golfers or golf nuts to get up close and personal with some of the world’s best golfers and, of course, celebrities.
“Last year Queenstown local Regan Pearce had the honour of being Lydia Ko’s caddy, which was a great opportunity and one I’m sure he’ll never forget,” said Mr Whiley.
There is a $39 cost to register and all caddies will receive an NZ Open golf shirt and hat to wear while caddying and to take home as a souvenir.
During the event week caddies will need to register on site at The Hills Driving Range no later than Wednesday 10am February 26 2014 as most players will want to get a couple of practice rounds in.
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SHANGHAI — Dustin Johnson is starting to compile the kind of numbers that are difficult to ignore. Not since Tiger Woods has a player won on the PGA Tour in each of his first seven seasons. To already have eight tour wins before turning 30 puts him in select company that only includes names like Woods, Davis Love III, Phil Mickelson and David Duval over the last 25 years.
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It only took four holes over two days for Dustin Johnson to lose a six-shot lead in the HSBC Champions.
All that mattered was the high-powered kick down the stretch Sunday at Sheshan International that brought him the biggest win of his career. In what felt like the end of a long year and beginning of a new season, Johnson broke loose from a three-way challenge on the back nine by playing a five-hole stretch in 5-under par. He closed with a 6-under 66 for a three-shot win over Ian Poulter to capture his first World Golf Championship title. It's the biggest win I've had in my career so far," he said. "Those guys put a lot of pressure on me. I'm really proud of the way I handled myself."
This one required a little bit of everything.
One shot behind with six holes to play, he smashed his drive over the corner of a dogleg on the 13th hole that left him a short wedge into 5 feet for birdie to catch Poulter. Right when it looked as though he would fall behind again, Johnson holed a 20-foot birdie putt on the next hole.
It was a pitch-in for eagle that effectively won the tournament.
With a one-shot lead playing the par-4 16th, Johnson hit a 3-iron about 25 yards short of the green with a front pin. The pitch was perfect, rolling into the cup like it was a putt. Johnson raised his left hand and pumped his right fist. And when he waved to acknowledge the Chinese fans, they instinctively waved back, as if Johnson were the star attraction in a parade. That he was, and there were plenty of stars.For most of the back nine, the top seven players on the leaderboards consisted of Johnson and half of Europe's winning Ryder Cup team from Medinah.
Poulter and Graeme McDowell, who each had a share of the lead at some point, looked capable of winning until Johnson's late heroics. Right behind them were Sergio Garcia, Justin Rose,Rory McIlroy and Martin Kaymer, all firing away with birdies on a soft course but unable to catch up.
Poulter and McDowell each closed with a 66, the same score as Johnson.
McDowell went 64-66 on the weekend without making a bogey and still lost by four. It was the start of that amazing stretch by Johnson that he recalled most clearly.
"He trenches one 350 down the middle and has the hands to that 70-yard shot to the front pin and make the putt," McDowell said. "He's just a quality, talented, very athletic, classy player. Yeah, he makes mistakes. But when you've got a game as good as him, you can get away with a few mistakes. He's just got a great wedge game to go with just an outrageously good driving game."
Johnson set the tournament record at 24-under 264.
He was six shots clear Saturday afternoon when he hit his tee shot in the water for a double bogey on the par-5 18th hole. Poulter had made birdie on the 18th, so the lead was cut to three shots going into the final round. Poulter started birdie-birdie. McDowell did one better, opening with three straight birdies. Johnson three-putted the first hole for bogey, and then failed to make birdie on the par-5 second hole even though he had a 6-iron for his second shot.
Just like that, there was a three-way tie for the lead.
"The first five holes were not fun," Johnson said. "I wasn't having too much fun at the start, especially when Graeme and Ian were birdieing every hole, it seemed like. But I knew I just needed to keep playing my game."
Poulter, still tied for the lead, reached the green in two with a fairway metal. Johnson missed the fairway and had to lay up, while McDowell was stuck in the thick collar on the top side of a bunker, and he did well to hit a chunk-and-run onto the green about 40 feet away. Poulter lagged to tap-in range for birdie. McDowell's long birdie putt banged into the back of the cup and disappeared. Johnson calmly made his 20-foot birdie.
"That was a big putt there," Johnson said.
Poulter fell out of the lead with a bogey from the bunker on the 15th, and he never caught up. He at least stayed within two shots with a birdie on the 16th, but it was demoralizing to see Johnson follow his eagle with a 5-iron into 8 feet for birdie on the 17th that wrapped it up.
"A little disappointed not to put my hands back on the trophy," said Poulter, who won the HSBC Champions last year at Mission Hills. "But 15 birdies and an eagle at the weekend is some pretty good golf. Dustin finished the job. It was good golf and it was good fun to play in that group."
Garcia closed with a 63 to finish fourth, followed by Rose (68). McIlroy and Graham DeLaet each shot 69 to tie for sixth.
It was the second straight PGA Tour season that Johnson won the first tournament he played -- even though it was in the same year. His last win was the Tournament of Championship at Kapalua in January. This is the first time the tour has gone to a wraparound season, which began a month ago.
Johnson now has won in each of his first seven seasons on the PGA Tour, the most by any player since Woods in his first 14 seasons through 2009. The next step is to win a major, and he already has had plenty of chances in those.
"You know what?" Johnson said. "If I play like I did this week, I'm going to win one, for sure."
Monday, November 4, 2013
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GOLD COAST, Australia (AP) Brandt Snedeker has withdrawn from the Australian PGA Championship on the Gold Coast.
PGA of Australian CEO Brian Thorburn announced Snedeker's withdrawal on Tuesday morning, confirming the American golfer did not board his flight from Shanghai on Monday after injuring his knee. Snedeker played in the HSBC Champions tournament in China over the weekend.
Adam Scott is the main draw card for the tournament starting Thursday, playing for the first time in Australia since winning the Masters.
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Johnson played a pivotal five-hole stretch on the back nine in 5-under par, seizing control by pitching in for eagle from just short of the green on the par-4 16th. He followed with an 8-foot birdie putt on the 17th and closed with a 6-under 66 for a three-shot win over Ian Poulter in the HSBC Champions.
"It was a lot of fun out there," Johnson said. "Those guys put a lot of pressure on me. I'm really proud of the way I handled myself."
Johnson set a tournament record at 24-under 264.
He started the final round with a three-shot lead and lost it in two holes. But it wasn't just Poulter who made the 29-year-old American sweat.
Graeme McDowell also had a share of the lead of the lead at one point, and they battled across Sheshan International for the better part of four hours on a cloudy, hazy afternoon that made it feel like twilight.
Poulter, who won last year at Mission Hills, closed with a 66 to finish alone in second. McDowell also had a 66 to finish third. Sergio Garcia birdied half of his holes for a 63. At one point, the leaderboard featured Johnson and half of Europe's winning Ryder Cup team from Medinah.
It was the second straight PGA Tour season that Johnson won the first tournament he played - even though it was in the same year. His last win was the Tournament of Championship at Kapalua in January. This is the first time the tour has gone to a wraparound season, which began a month ago.
Johnson now has won in each of his first seven seasons on the PGA Tour, the most by any player since Woods in his first 14 seasons through 2009.
He opened with a three-putt bogey and muffed a chip on the second hole, keeping from making birdie. Poulter birdied his opening two holes. McDowell started with three straight birdies, and all of them were tied at 17-under.
Johnson began to recover by closing out the front nine with back-to-back birdies.
The tournament took shape, however, over the final two hours starting on the 13th. Johnson hit a massive tee shot over the corner of the slight dogleg, leaving him a short wedge to 5 feet for birdie to tie Poulter for the lead, with McDowell one shot behind.
On the par-5 14th, Poulter appeared to have a big edge. He reached the green with a fairway metal and lagged his 40-foot eagle putt to within inches. Johnson found the rough off the tee, had to lay up, and hit a poor chip to 20 feet. McDowell was in the deep collar of rough around a bunker and did well to hit a chunk-and-run to 40 feet. McDowell's long birdie putt banged into the back of the cup, and Johnson rolled in his birdie putt to stay tied.
Poulter fell back with an approach into the bunker left of the 15th green for bogey.
Johnson put them away with his power on the 16th. The pin was to the front, making it risky for anyone to try to drive the green. Johnson has such strength that he was able to hit 3-iron off the tee - as he has done previous rounds - to 25 yards short. His pitch was so pure it rolled into the cup as if it were a putt.
The eagle gave him a two-shot lead, and he widened it with another great shot for birdie at the 17th.
"Dustin Johnson was in a different league off the tee and gave us a little bit of a sniff, and then promptly slammed the door," McDowell said. "So a lot of fun. Really enjoyed it."
U.S. Open champion Justin Rose (68) finished alone in fifth, while Rory McIlroy (69) and Graham DeLaet (69) were another shot behind.
McDowell's third-place finish at least allowed him to make up big ground on Henrik Stenson in the Race to Dubai, now trailing about 140,000 euros. McDowell is not playing the Turkish Open next week, but did enough that a shot at the European Tour money title is still in reach when he gets to Dubai in two weeks.
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