The value of an Olympic medal for the victorious athletes at the recent Paris Games is emotionally priceless but nonetheless worth something in real dollars and cents based on its inherent commodities.
For golf winners Scottie Scheffler and Lydia Ko, there’s far less actual gold in the Olympics’ top prize than they probably realize.
According to a report in Oxford Economics, a champion’s gold medal is composed of 523 grams of silver and only 6 grams of 24-carat gold and carries an estimated value of $1,027 based on recent commodity prices. (If pure gold, they would be worth about $40,000.) A runner-up’s silver medal – for Tommy Fleetwood and Esther Henseleit, respectively, in men’s and women’s golf – which is 525 grams of pure silver, is worth $535. The third-place bronze, which is a mix of copper, tin and zinc, is valued at only $4.6. (Sorry, Hideki Matsuyama and Xiyu Lin.)
Still, that’s better than the wreath of olive leaves that adorned the ancient Olympic winners. READ MORE
A mural dedicated to the memory of the “Greensboro Six,” civil-rights pioneers who integrated golf in the North Carolina city, was unveiled at the Gillespie Golf Course near the site of last week’s PGA Tour event. To read Scott Michaux’s GGP+ story about the “Greensboro Six,” click HERE.
With its recent acquisition of the 400-acre Golf de Médoc resort in Bordeaux, France, the Cabot Collection has planted its flag in continental Europe for the first time.
“Bordeaux holds a special place in the hearts of travelers worldwide, known not only for its rich history and stunning landscapes, but also for its remarkable culinary offerings and universally revered wine,” said Ben Cowan-Dewar, CEO and co-founder of Cabot, which also boasts luxury resort and residential golf destinations in Cape Breton, Nova Scotia; Saint Lucia in the Caribbean; British Columbia; Florida and the Scottish Highlands. “We are thrilled to now have a presence in this iconic destination and look forward to offering guests unforgettable experiences that seamlessly blend exploration and cultural immersion with world-class golf.”
The property, which is near the historic village and wine producing center of Saint-Émilion, has been rebranded Cabot Bordeaux and features two 18-hole courses, one of which was designed by Bill Coore and the other by Rod Whitman.
It also includes a 79-room hotel and golf training center as well as what Cabot officials describe as a “refined restaurant” and a “world-class spa.”
Cowan-Dewar is planning to upgrade both layouts as well as the interior of the hotel. There is also talk of converting one of the resort’s two driving ranges into a par-3 course. READ MORE
The Angus Council in Scotland is seeking views on proposed changes to the management and operation of Carnoustie’s golf.
The land, which hosts three courses including the Open rota Championship Course, is owned by the council and managed by a nonprofit Links Trust. A group of investors who already own a stake in the hotel on the property is now seeking to take over course operations. Some mystery remains as to the identity of the investors, but there are indications that the R&A may be involved.
There will be much debate ahead. The courses are an integral part of the town on the North Sea and very distinctly typical of the long tradition of the sport in Scotland, which permits townsfolk to play often, affordably, and at speed. Many locals will be wary that any investor group may put profit margins ahead of heritage. READ MORE
TAP-INS
In its second-quarter financial report, Topgolf Callaway announced “a full strategic review of Topgolf” after what CEO Chip Brewer described in a news release as “softer-than-expected traffic” to the golf entertainment centers. Brewer added that “a potential spinoff of Topgolf,” which Callaway acquired in 2021, is possible. READ MORE
Acushnet Holdings reported $683.9 million in net sales in the second quarter of 2024, which was down 0.8 percent from the same quarter last year, according to the company’s quarterly earnings report. Acushnet makes Titleist equipment and FootJoy apparel, among other products. READ MORE
Providence College has added men’s and women’s golf as non-scholarship varsity sports beginning with the 2025-26 academic year, the school in Rhode Island’s capital city announced. Providence, a founding member of the Big East Conference, dropped men’s golf in 2002. READ MORE
The U.S. national development program is accepting grant applications from promising junior golfers who demonstrate financial need, the USGA announced. In 2024, the debut of the national program, 71 juniors were approved for grants ranging from $2,500 to the maximum $10,000 to help offset development-related expenses. READ MORE
The USGA supported its commitment to seed golf-related careers with a record 323 interns this year. READ MORE
Compiled by Steve Harmon, John Steinbreder and Matt Cooper