I posted this earlier on the pba website
PBA ANNOUNCES 20% REDUCTION IN PRIZE FUNDS
Prize money on the Denny's PBA Tour will decline by 20 percent, PBA
Commissioner & CEO Fred Schreyer has just announced in a media conference
call that is ongoing.
"The message being sent is that the days of the open checkbook in the PBA
are over, and we have to be self-supporting," Schreyer said.
In standard Tour events, first place prize money will drop from $40,000 to
$25,000, and the guaranteed prize payoff for exempt players will drop from
$2,000 to $1,800.
Schreyer said the cuts were being made to ensure the long-term viability of
the organization.
Two of the Tour's four major tournaments, the World Championships and the
Tournament of Champions, also will see first-place reductions to $50,000
and $60,000, respectively.
Schreyer added that the PBA hopes to save additional money once
negotiations begin with ESPN regarding the Tour's next contact with that
network. He said cutting TV production costs also could benefit the
organization's bottom line, adding that the 2007-08 season could mark the
first season of profitability under the ownership group that took over
seven years ago.
Schreyer said the announced cuts do not extend to either the PBA Senior
Tour or the PBA's Regional program.
