September-October 2003
Tee Time: Industry News

Callaway Golf Bid for Top-Flite Approved
The U.S. Bankruptcy Court in Wilmington, Del., approved Callaway Golf Co.’s offer to purchase The Top-Flite Golf Co. for $174.4 million in cash and assumption of debt, plus the assumption of certain operating liabilities. Callaway Golf expects to close the transaction in mid to late September.

In a bankruptcy auction held Sept. 3, the Carlsbad, Calif., club maker beat out TaylorMade-adidas Golf to acquire Top-Flite’s assets. According to an Associated Press report in The New York Times, more than 30 bids and counter bids were exchanged until TaylorMade’s parent company, Adidas-Soloman AG, pulled out.

Top-Flite, the nation’s second-largest golf ball maker and seller, had $250 million in sales last year, which could bump Callaway Golf into the elite $1 billion sales category in 2004. Just as valuable are the numerous patents held by Top-Flite; the Top-Flite, Strata and Ben Hogan brands; and a manufacturing base for golf balls which includes plants in Chicopee, Mass., Gloversville, N.Y., and Fort Worth, Texas.

Top-Flite filed for bankruptcy in June, just one month after it sold the Spalding brand name and related assets of its sporting goods business to Russell Athletic Corp.

The Golf Club at Chelsea Piers Expands
The Golf Club at Chelsea Piers in New York City opened The Players Championship Room in July. The new mezzanine, located on the top floor of the club, features two Full Swing Golf Simulators, a fourth Video Analysis Super Station—used by the on-site Golf Academy for private lessons, clinics, and schools—and a special events space with views of the Hudson River.

The Full Swing Golf Simulators, which are being introduced for the first time in the New York market, allow customers to simulate a round of golf on 36 different championship courses worldwide. The simulators also present a teaching tool for instructors, allowing students who have never been on a golf course to get the feel of playing a full game before attempting an outdoor round.

The Players Championship Room is the latest addition of private event spaces at Chelsea Piers. Overlooking the Hudson River and the driving range, it will be used for classes, clinics and schools, as well as for corporate events, team-building outings and birthday parties.

First Tee Facility Named After Legendary Teacher
The First Tee of Greater Austin has named its east Austin, Texas, golf facility the Harvey Penick Golf Campus, after the legendary golf pro and teacher. The campus, which will open this fall on the grounds of the East Communities YMCA, will include a nine-hole golf course (The Penick Course), interactive learning center, three-hole short course, driving range, and practice putting and chipping greens. Additionally, the facility will include three baseball and three soccer fields.
“It is fitting that The First Tee of Greater Austin has chosen to honor Harvey Penick in this way,” says Ben Crenshaw, a two-time Masters winner and friend and former student of Penick’s. “Harvey devoted his professional life to teaching the great game of golf and the life skills that the game brings. The First Tee of Greater Austin will carry that mission into the 21st century.”

True Temper Sports Opens Testing Center
True Temper Sports has opened a facility in Robinsville, Miss., to conduct extensive testing of its shaft designs and concepts. The 14-acre property consists of a fully sensored driving range, computerized swing robot, Vector launch monitor, a club assembly operation and eight all-weather hitting bays. True Temper engineers will use these facilities to analyze ball launch trajectories and spin rates, as well as distance and dispersion statistics, to optimize shaft performance and specifications

Schools Sign Up for National Program
Elementary schools were quick to respond to Golf 20/20’s request for participants for its national school golf program. Approximately 160 elementary schools—double the amount projected—will participate in a pilot effort for the program this fall.

The multilevel curriculum will introduce students in kindergarten through fifth grade to the game and offer transitional support into traditional golf programs for students expressing interest. Participating localities include Chicago; Cobb County, Ga.; Denver, Colorado Springs and Pueblo, Colo.; Corning, N.Y.; Duval and St. Johns counties, Fla.; Las Vegas; Lincoln, Neb.; and Pensacola and Sarasota, Fla.

More information on the program is available at www.golf2020.com.