LPGA and Symetra Tour gamers provided monetary help as a part of a money development program

LPGA and Symetra Tour execs can reap future earnings in a brand new money development program whereas the sport is delivered to a halt by the coronavirus pandemic.

The gamers obtained the provide on Friday.

“There may be an upfront alternative for the gamers if they’re focused on taking it,” mentioned LPGA commissioner Mike Whan.

Whan didn’t present particulars on the provide, however a supply acquainted with this system mentioned it was based mostly on the place of gamers on the LPGA precedence class checklist, with gamers putting within the high 15. classes with essentially the most entry, with the opportunity of requesting an advance on the head within the “center vary of 5 digits”. Gamers who fall into decrease classes have the chance to attract decrease quantities, as do Symetra Tour execs.

BY Rex Hoggard

Two weeks after the PGA Tour halted play, the Tour stepped in to assist shut the monetary hole the coronavirus has induced to gamers.

The provide is actually an interest-free mortgage, with gamers drawing from the reserves repaying it with cash taken from their future earnings.

Whan acknowledged that this was a extra restricted money advance than what the tour wish to provide.

“In the event that they’re studying concerning the PGA Tour Money Advance, I might simply say to all of my members, ‘I am sorry,'” mentioned Whan. “I might have preferred to have been a part of the PGA Tour money advance program, however neither am I. Look, we’re not sitting on the identical financial savings account, and I do know I am not going to unravel your complete monetary drawback of the gamers, however no less than that is one thing.

“I hope that is sufficient to assist folks get by a tough time. If this factor drags on indefinitely, we’d need to revisit it once more.

Whan mentioned gamers dealing with important difficulties can apply for assist from a segregated fund.

About Mildred B.

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