Performance based contractual bonuses are a key element of manufacturer, brand and sponsorship obligations in sport; no more so than in the professional golf ranks.
McClarrons Sport are specialists in the mitigation of financial risk created by such performance-based contractual bonuses in professional golf.
From equipment to clothing, through to cars and watches, players have many partnerships with brands and sponsors. If these aren’t managed correctly, significant financial exposures can be created by performance-based agreements.
Success for player on the course can prove costly for a sponsor, placing not only a dint in their marketing budget but in some instances, causing a significant blow to their bottom line. At McClarrons Sport, we ensure that a comprehensive insurance policy is constructed and placed for each unique contract, removing all financial uncertainty for the brand or business associated with a player.
Operating across all major golf tours globally, and with a proven track record working with a broad range of parties in the golf industry, we consider ourselves experts in the field of golf contractual bonus insurance. We have worked with both individual backers of leading local talent on satellite tours, through to PLC’s with large schedules for players across multiple tours and incorporating a multitude of performance-based triggers.
We can place a huge range of performance based polices, including (but not limited to):
- Wins on a named Tour
- Wins on all Tours globally
- Majors
- Top 5’s / Top 10’s / Make Cuts
- FedEx / Race to Dubai rankings
- World Rankings
- Bespoke Point Indices
We operate on the following Tours, to name just a few:
- PGA Tour
- European
- Korn Ferry
- LPGA
- LET
- Alps Tour
- Europro
- PGA Champions Tour
- Staysure Tour
With the new US PGA Tour season underway and the European Tour about to enter 2019’s season-ending events, culminating with the DP World Tour Championship in Dubai, focus is beginning to switch to 2020.
The end of each calendar year sees the renewal of contract bonus policies for many players, and with some players moving manufacturers and announcing new brand partnerships, it is sure to be a busy time in the insurance market.
If you have a contractual bonus obligation or are thinking about sponsoring a player in 2020, get in touch to discuss how we can help you with an innovative and secure insurance solution.
Author: Tom Landale – Associate Director, Accident, Health, Sports & Contingency
