But amateurs can't win money.
>> Can't win money or you destroy your eligibility.
Let's stay with a Spieth for example.
Now, we've studied product endorsement deals.
On course, off course deals, without getting any confidences.
How important is it that he have the right equipment?
And how is that suitability clause driven with somebody like Spieth,
who's starting to really go to the top of this game?
>> Yeah, he's a good example because, so
when he first came out he played Titleist equipment his whole career.
And luckily, Under Armour came right out and wanted to sponsor him.
So, and they paid him a lot of money.
Like, I'll just give you ratio of a normal deal.
Webb Simpson's a client of ours.
He makes a really good clothing deal contract.
Jordan Spieth got paid four times what Webb Simpson did because he
was the future of golf.
And there's really two times you get paid in golf.
It's when you have potential and are just coming out of college.
And then, when you win your first major.
And the rest of the time you're getting,
kind of bonus contracts, or kind of minimum contracts.
He was the future of golf.
Under Armour paid him.
So he didn't have to go, I'm going to go switch clubs to go chase the money.
He said, I'm going to stay with Titleist.
And, as you're doing contracts, that is, there's two or
three very, very important clauses within a a golfer's club equipment contract.
And the suitability clause is very,
very important, because if you can't play the equipment, your career is derailed.
So you have to have the flexibility to move in and
out of a contract if you can't play the equipment.
>> There's the range of clauses that we would deal with together for many years.
Let's start with must use, must use this club, no matter what.
You get paid the maximum for that Dave.
Is that a clause you recommend or
would allow a client to sign on for without any tweaking rights?
>> Yeah, you almost never.
And as an agent, you would never do it.
We've had clients who have overridden us and
said, "oh, I can play anything," and have tried this and it didn't work.
And then we find out a year and
a half later that they're breaking up the contract.
because they're, they're playing something that they can't possibly compete with
against the other people.
So yes, the must uses have to go.
As an agent again you are trying to get as flexible a contract as you can.
But most of suitability best
efforts is a clause that we probably accept because that's pretty broad.
>> Reasonable professional judgment suitable for
use in professional competitive play.
Those are the clauses I think we used to recommend.
>> Right. That's right.
>> Okay, then how about the use and the wearing of the clothing?
With this big Under Armour deal, we talked about this.
Must he be all Under Armour all the time, wherever he goes?
In the back yard, he's practicing chipping and putting.
Hypothetically, we're not getting into this agreement.
>> Yeah, it's not far from that now.
Your typical golfer is going to do a lot of corporate appearances.
In the old days, that used to be 50% of your income.
Now it's a much smaller piece because economics have changed.
Prize money has gone through the roof.
Curtis Strange in 1988 was the first person on tour to make $1 million.
You know, now they make $10 million bucks a year in prize money.
The Fed-Ex bonus is $10 million so
you can make $20 million bucks.
So, the clothing manufacturer like to wear it,
they'd like to have you in pajamas if they could.
>> [LAUGH] >> Reality is,
most of it is golf related.
>> Activities.
>> Yeah, golf related activities, so
certainly when you're on tour you have to wear whatever your contract informs.
Jordan is head to toe which means everything has to be under armor, and
now it's on his hat so its everything those are your couple main.
Main endorsement pieces is the hat because of visibility on TV,
bag because of visibility on TV.