Price of Ryder Cup set to rise to 100 million euros

The Prize for a competition costing millions

Despite the drastic overhaul in Italian government in the last year interest in the Ryder Cup remains as strong as ever. 97 million euros has been guaranteed by the democratic party in an amendment that has nothing to do with golf or sport at all. The Milleproroghe was considered too intensely scrutinised a measure to pass these reforms. The government, now run by Paolo Gentiloni with Luca Lotti as the Minister of Sport, preferred to slip the measure into the ‘Salva Banca’ bill; which is designed for anything other than sports reform. It is however a democratic amendment that will land in the senate next week and offers the right opportunity to guarantee the close to 100-million-euro investment in the tournament. Starting in the Senate the bill should arrive in the House where it will be voted through with confidence. With 60 million already in hidden in the budget through grants the state’s investment in the tournament could rise to 150 million.

ROME-- The decree will be welcome to the Golf Federation thanks to the intervention of the Democratic Party on an old 2002 law ‘relating to the provisions for amateur activities’. The one to sign this decree was Renato Guerino Turano, a resident of Chicago and elected by the Democratic Party to govern the foreign constituency of North and Central America, and a lover of Golf. The decree shall go through the Credit Institute of Sport and will allow the entity guarantees to be allowed to renovate and construct facilities but also ‘in favour of organiser of sporting events’ as well as holding events in instances ‘of overriding public interest.’ There will also be a guarantee from the state in favour of the Ryder Cup to the sum of 97 million Euros. This is the exact promise that was removed in November 2016.

 Meanwhile the location of the open passes to the Agnelli family. Ever since Matteo Renzi left office Luca Lotti’s presence has been the only guarantee that the Ryder Cup project was not cut in half. His presence is worth 60 million euros to the organising committee who need the funds to ensure that the Italian Open can be expanded in the next ten years. The prize pot of the Italian Open in 2017 will be € 7 million and will be held at the Royal Park I Roveri di Torino, owned by the Agnelli family.

 The 2022 Ryder Cup will be the first-time Italy hosts the tournament and it will cost over 100 million euros. In addition to the prize money, the venue, the Marco Simone Golf Club, must be restructured. It falls on the government to guarantee the funds required.