Woods return too late for cash bonanza

By Simon Evans

MIAMI (Reuters) - Tiger Woods's return to golf at the U.S. Masters next month will generate huge interest in the tournament but almost nothing in the way of immediate revenues or profits for the event.

T.V. ratings will be up, sponsors will be pleased at increased coverage and the general buzz around the year's first major will be intense given the fascination with seeing how the scandal-hit golfer copes with his first event back.

But none of that excitement will translate into serious extra cash for the businesses tied into the event.

Industry sources say CBS's inventory for the key advertising slots on Saturday and the final round on Sunday have long since been sold out, at pre-Tiger prices.

At least television ratings should be back to their best and possibly beyond for what CBS News and Sports president Sean McManus recently said would be "the biggest media event other than the Obama inauguration in the past 10 or 15 years."

Ratings agency Nielsen reports that audiences for final round coverage of PGA tournaments are down 11 percent season-to-date compared with the same period last year.

Additionally, last year Nielsen found that ratings for the Masters' final round were 20 percent lower when Tiger did not go on to win.

Having Woods in contention at the Masters can only be good for the tournament's two broadcasters, ESPN and CBS.

A CBS spokesman declined to comment on the situation but it is evident that any benefits will likely come later.

"They're not going to be able monetize it, said Stephen Master, vice president of Nielsen Sports.

"But it's kind of like a restaurant. You might have sold out for Saturday night, but the fact that your restaurant's full bodes well for your business. It's going to be a hot place to be on. CBS has golf other than this," he said.

ESPN, who have rights to the first two rounds, may have a greater chance to take advantage of the late addition of Woods, Master said.

On the ground, little will change. Deals for advertising and sponsorship on site at Augusta have long since been signed off on and tickets are now only available via online re-sellers.

TICKET SELLERS

Website FanSnap.com, which aggregates online ticket sellers, reported a four-times increase in searches for Masters tickets immediately after Woods's announcement but a spokesman said that had not translated into a large spike in either sales or prices.

The economy in the Georgia town of Augusta receives a hefty annual boost from the Masters but for local businesses the event would have been just as big in terms of economic benefits without Woods.

"The tickets are sold to the same people, year after year. There aren't going to be additional people at the tournament -- it is sold out and there will be the same number this year," Barry White, president and CEO of Augusta Convention and Visitors Bureau, told Reuters.

"This is the 74th Masters and I don't wish to be disrespectful (to Woods) but it was sold out long before he came along.

"Will it be different with him here? Yes, there is a lot more buzz and there have been a lot more media enquiries. The real effect will be on television, more viewers tuning in," he said, adding that could bring greater exposure to the town.

White predicted the only real difference this year might be the involvement of paparazzi and tabloid media, who while they would almost certainly not be inside the golf club, could well be hanging around Augusta.

"A few hundred extra hotel rooms? We'll welcome that," White said.

(Additional reporting by Ben Klayman in Los Angeles, Editing by Ed Osmond)