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The PGA EuroPro Tour has now closed.

After 20 years at the top of the game, helping to develop some of the World's finest players, the PGA EuroPro Tour has come to an end. We’d like to thank all the players, sponsors, host venues, volunteers and fans for your support and we wish everyone well.

Allan tops EuroPro Order of Merit

James Allan will tee it up on the European Challenge Tour in 2023 after winning the PGA EuroPro Tour’s Order of Merit in 2022.

The 28-year-old won the Tour’s season-ending Matchroom Tour Championship at Lough Erne Resort to capture his third victory of the season and cement his position at the top of the Rankings, subsequently earning his 2023 Challenge Tour playing rights.

Allan, who became the highest annual earner in the EuroPro Tour’s history, will be joined on the Challenge Tour in 2023 by fellow graduates Michael Stewart of Scotland, Northern Irishman Dermot McElroy, Welshman Jack Davidson and England’s Josh Hilleard.

Unfortunately, after 20 years developing some of Europe’s most promising talents, the PGA EuroPro Tour came to an end in 2022. The five 2022 graduates will be looking to follow in the footsteps of Ryder Cup players Tommy Fleetwood and Tyrell Hatton who have gone on to achieve great success on the DP World Tour since their graduation to the Challenge Tour from the EuroPro Tour.

More recently Englishmen Daniel Brown and John Parry, who graduated from the Euro Pro Tour in 2021, achieved back-to-back promotions as both men secured their DP World Tour cards for 2023. Parry finished in a tie for second at the Rolex Challenge Tour Grand Final supported by The R&A to catapult 17 places into the top 20 on the Road to Mallorca Rankings to earn promotion to the European Tour group’s top tier, while Brown finished third at the Final Stage of DP World Tour Qualifying School.

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PGA EuroPro Tour To Fold After More Than 20 Years

Europe's third-tier development Tour will end at the conclusion of the 2022 season

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The PGA EuroPro Tour has announced that the 2022 season will be its last, citing the economic landscape of rising costs and changes in audience appetite for its decision.

It was created in 2002 following a merger between the EuroPro Tour and PGA MasterCard Tour, as the Professional Golfers' Association and Barry Hearn's Matchroom Sport joined forces.

As Europe's third-tier golf tour, the PGA EuroPro Tour held an important place in the ecosystem. The top five finishers on the Order of Merit graduated to the Challenge Tour and secured a place at Stage Two of the DP World Tour Qualifying School.

The success of the Tour is perhaps merited by its alumni, which includes Major winners in Louis Oosthuizen and Charl Schwartzel and European Ryder Cup players in the likes of Tommy Fleetwood , Tyrrell Hatton , Ross Fisher, Jamie Donaldson, Nicholas Colsaerts and Oliver Wilson . 

Although unknown at this stage, it is likely PGA EuroPro Tour members will take up opportunities on other development circuits upon conclusion of the 2022 season, such as the Clutch Pro Tour, Alps Tour, Pro Golf Tour and Nordic Golf League. 

Speaking of the decision, PGA EuroPro Tour President Barry Hearn said: "I have been honoured to have created the PGA EuroPro Tour alongside Sandy Jones of the PGA and to watch the development of so many aspiring and inspiring professional golfers.

"Sadly, in these changing times for professional golf support for Europe's biggest development tour has not been sufficient to justify its continuation but I must stress my eternal gratitude to Dan Godding and his team at the PGA EuroPro Tour, the PGA, our broadcasters Sky Sports and the golf clubs and volunteers in both the UK and Europe without whom we would never have created so many opportunities for next generation of professional golfers."

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The season closing Tour Championship will serve as the final PGA EuroPro Tour event and will take place at Lough Erne Resort 19-21 October 2022. James Allan, Michael Stewart, Dermot McElroy, Josh Hilleard and Ryan Brooks currently occupy the top-5 positions in the Order of Merit. 

James joined Golf Monthly having previously written for other digital outlets. He is obsessed with all areas of the game – from tournament golf, to history, equipment, technique and travel. He is also an avid collector of memorabilia; with items from the likes of Bobby Jones, Tiger Woods, Francis Ouimet, Arnold Palmer, Lee Trevino, Adam Scott and Ernie Els. As well as writing for Golf Monthly, James’ golfing highlight is fist bumping Phil Mickelson on his way to winning the Open Championship at Muirfield in 2013. James grew up on the east coast of England and is the third generation of his golfing family. He now resides in Leeds and is a member of Cobble Hall Golf Club with a handicap index of 1.7. His favourite films are The Legend of Bagger Vance and Tin Cup.

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BREAKING – 2022 PGA EuroPro Tour season set to be its last

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A letter from PGA EuroPro Tour CEP, Daniel Godding has confirmed that after 20 years, the PGA EuroPro Tour will officially end following next month’s Tour Championship at Lough Erne Resort.

The news will come as a huge blow to Ireland’s up-and-coming professionals who largely compete on the GB&I satellite circuit hoping to develop and progress to the Challenge Tour and beyond. The letter read;

After what has been a phenomenal 20 years of developing many of Europe’s best professional golfers, the PGA EuroPro Tour has decided to make 2022 the final season.

In a market evolving quickly, the PGA EuroPro Tour feels the impact of changing global investment, media and sponsorship. The economic landscape of increasing costs and the changing habits of the worldwide audience means it has become clear that unfortunately there is no longer the support nor demand in the market to operate the PGA EuroPro Tour.

The Tour first opened its doors in 2002 as a partnership between Sandy Jones and the PGA’s Mastercard Tour and Barry Hearn and Matchroom Sport’s EuroPro Golf Tour. The success was immediately realised with members Louis Oosthuizen, Charl Schwartzel and John E Morgan   with more recently the likes of Aaron Rai, Tyrrell Hatton, Marcus Armitage and Richard Mansell   using the developmental design and progression pathway to springboard their careers on to the European and PGA circuits.

With many Major, European and PGA Tour wins and Ryder Cup appearances by previous members, the tour has proudly created a legacy and has driven forward the brand and image of European golf.

The purpose of the PGA EuroPro was to develop the very best talent in the sport and prepare them for the next stage in their careers. As a direct affiliate to the European Tour, the PGA EuroPro offered five Challenge Tour cards for the following season and has proudly promoted over 100 golfers to the next level.

The PGA EuroPro Tour has provided a world class service to its members offering a stepping stone and media experience like no other tour. But in recent times, the sports environment has evolved drastically, and it has proven difficult for the PGA EuroPro Tour to operate. We are sad to bring an era to its end, but we are delighted that we have helped so many realise their dreams.

We wish everyone the best of success in the years to come and we’re excited to see where our past and current members can take their games. We’d like to use this opportunity to thank all our staff and PGA Members, all our partners from the 20 years who have made it possible and every golf club and volunteer who has been so hospitable when the PGA EuroPro Tour has come to town.

Matchroom Sport and PGA EuroPro Tour President Barry Hearn added –

“I have been honoured to have created the PGA EuroPro Tour alongside Sandy Jones of the PGA and to watch the development of so many aspiring and inspiring professional golfers.

Sadly, in these changing times for professional golf support for Europe’s biggest development tour has not been sufficient to justify its continuation but I must stress my eternal gratitude to Dan Godding and his team at the PGA EuroPro Tour, the PGA, our broadcasters Sky Sports and the golf clubs and volunteers in both the UK and Europe without whom we would never have created so many opportunities for next generation of professional golfers.”

Robert Maxfield, Chief Executive of the PGA added: –

“I would like to thank and congratulate Matchroom for successfully operating The PGA EuroPro Tour for so many years. A number of today’s global golf stars owe a huge debt of gratitude to The PGA EuroPro Tour for providing them with the opportunity to realise their dreams. It is sad that this will be the last season of The PGA EuroPro Tour but we can all look back with great pride on what has been achieved over the last 20 years.”

Our Final event will be the Matchroom Sport Tour Championship at Lough Erne Resort between 19th and 21st October, where the top 5 at the end of the event will be promoted to the Challenge Tour for 2023.

Kindest, Daniel Godding CEO PGA EuroPro Tour

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3 things to consider before investing in live nation stock.

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LOS ANGELES, CALIFORNIA - FEBRUARY 05: Jennifer Lopez and Ben Affleck seen during the 65th GRAMMY ... [+] Awards at Crypto.com Arena on February 05, 2023 in Los Angeles, California. (Photo by John Shearer/Getty Images for The Recording Academy)

Jennifer Lopez recently announced she is canceling her 2024 concert tour to spend more time with her family, according to the New York Times .

In my view, that news could signal more ominous trends for Live Nation than last month’s Department of Justice lawsuit against the company alleging antitrust law violations.

The lawsuit — which aims for Ticketmaster to be spun off from Live Nation — is unlikely to affect the company’s stock price.

What could affect Live Nation’s shares — which have lost 26% of their value since peaking at $126 in February 2022 — is the gap between expected and actual revenue growth.

Live Nation has already signaled growth is likely to slow down — from 21.5% in the first quarter of 2024 to 5% in the current quarter ending this month, according to my May Forbes post.

Since then, three new developments suggest that 5% growth could be overly optimistic:

• A slew of concert cancellations;
• A drop in average resale ticket prices; and
• The possible sale of identification data from hundreds of millions of hacked Ticketmaster customer accounts, the New York Times reported.

While the first two items could slow down sales soon, the last one could hurt the company’s reputation and heighten the need for more competition in the industry.

I requested comment from Live Nation and will update this post if I receive a reply.

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Best 5% interest savings accounts of 2024, concert cancellations.

Live Nation reported strong first-quarter results and forecast a significant growth slowdown. The company reported a 21.5% increase in revenue to $3.8 billion in the March 2024-ending quarter — 16.5% more than the consensus estimate, according to Google Finance .

Sadly, for investors, analysts anticipate Live Nation’s growth to slow to 5% in the June 2024-ending quarter to $3.28 billion. That’s far slower than the previous year’s 73.5% revenue increase, reported Yahoo! Finance.

Since then, major artists have suddenly begun canceling shows and entire tours. On May 31, Jennifer Lopez announced the cancellation of her 2024 tour, citing “a desire to spend more time with her family,” reported NBC News . Moreover, The Black Keys abandoned its planned stadium tour — opting to perform in smaller venues, according to NBC News .

My guess is these two acts were unable to sell enough tickets to make their tours economically attractive. How so? Screenshots showing “empty venues at select tour dates” appeared on social media, wrote NBC News which “could not directly verify” the screen shots.

Other acts are canceling parts of their tours. Pop-rock band 311 cited “rising costs of touring overseas,” which made completing certain portions of the tour “unfeasible” as the reason for canceling the band’s upcoming European tour dates, noted NBC News .

Pink and Justin Timberlake recently canceled some show dates, while the Jonas Brothers “recently postponed their upcoming European tour,” NBC News reported.

To be sure, more popular acts continue to generate demand for high-priced concert seats. These include Olivia Rodrigo’s “Guts” tour whose average resale ticket price is $571, followed by $409 to see Morgan Wallen. That’s according to SeatGeek data first reported by Axios .

Declining Ticket Prices

A decline in ticket prices could also crimp Live Nation revenue growth. For example, while movie and concert admissions prices climbed 3.4% through April 2024, that increase is the lowest reading since 2021 and the second-consecutive month showing a slowdown, according to a May 2024 U.S. Bureau of Labor Statistics report.

What’s more, average resale ticket prices are down. More specifically, the average resale ticket price for a summer concert has fallen 17% since 2023 from $257 to $213, according to a SeatGeek email featured in an NBC News report.

What is behind the dropping prices? Here are three factors:

• The end of the post-pandemic concert surge. Last year concertgoers seemed willing to pay high prices to attend concerts in person after years of pandemic-era isolation . “The days where there was enough demand to sell out arenas at top dollar just isn’t there in this live events economy — outside of people like Taylor Swift who can sell whatever they want wherever they want,” Dave Clark, editor of Ticket News, told NBC News .
• Too much competition for concertgoers. Acts are no longer making money from recordings — they must tour to make a living and they use records to market their concerts, as I co-wrote in my business school case, Chokehold on Live Entertainment . These economic forces are behind an oversupply of concerts, Clark added.
• Tightening consumer budgets. More consumers are unwilling to give up necessities to pay high concert ticket prices. “People are seeing some of the prices they’re asking and just saying, ‘Hard pass.’ ” Clark said.

“The tickets are too expensive,” Brittney D’Mello, a 23-year-old K-pop fan from New Jersey who works in corporate marketing, posted to X .

“There’s only a SMALL amount of people (10%) that will spend $500+ on vip/floor/premium. The rest of us have budgets and won’t spend $100 on nosebleeds. Everyone is touring this year … and we only have money for 2-3 concerts MAX,” she added.

One expert tells me the concert market is reverting to the mean. “In my opinion, this is a market correction in regard to tours and ticket costs,” says Armen Shaomian, University of South Carolina Associate Professor of Sport and Entertainment, in a June 3 email.

“Despite record-breaking sales post-Covid, ticket prices for Taylor Swift's current European tour are surprisingly accessible (part of it thanks to some Euro countries with stricter resell regulations),” Shaomian adds. “For some American fans, a European long weekend trip with a concert ticket can be cheaper than attending a show in the U.S.”

Lower prices could mean the concert market is oversaturated with supply. “Affordability might also reflect a market reaching saturation,” Shaomian notes via email. “It's likely unsustainable to maintain year-round stadium tours at the prices we've seen. However, the slowdown could be temporary until the next major touring event.”

Hacked Ticketmaster Customer Account Data For Sale

On top of these problems, the limited competition in the ticketing industry means consumers have little choice when things go wrong.

That is what happened on May 20 to Ticketmaster when Live Nation identified “unauthorized activity” and issued a regulatory filing that a hacker is offering alleged Ticketmaster user data for sale on the dark web, according to CNN .

How bad will this be for ticket buyers? “Ticketmaster has not returned multiple requests for comment, and the filing did not confirm the scale of the hack,” CNN wrote.

The damage could be significant. The alleged hacker — ShinyHunters — posted it had the identifying information of 560 million Ticketmaster customers, including “credit card numbers and ticket sales,” reported the Times . ShinyHunters is asking for $500,000 for the 1.3 terabyte data trove, noted the Times .

If this is true, many Ticketmaster customers could be canceling their credit cards.

The resulting concertgoer frustration is another reason not to catch the falling knife that is Live Nation Entertainment stock.

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Mbappé declares his ‘immense pleasure’ at joining Real Madrid after unhappy end to PSG career

French soccer player Kylian Mbappe is photographed at the national soccer team training center in Clairefontaine, west of Paris, Monday, June 3, 2024 ahead of the UEFA Euro 2024. (Sarah Meyssonnier/Pool Photo via AP)

French soccer player Kylian Mbappe, right, talks to head coach Didier Deschamps at the national soccer team training center in Clairefontaine, west of Paris, Monday, June 3, 2024 ahead of the UEFA Euro 2024. (Sarah Meyssonnier/Pool photo via AP)

French soccer player Kylian Mbappe, center, gestures as he is flanked by head coach Didier Deschamps, left, and French Football Federation President Philippe Diallo, at the national soccer team training center in Clairefontaine, west of Paris, Monday, June 3, 2024 ahead of the UEFA Euro 2024. (Sarah Meyssonnier/Pool Photo via AP)

PSG’s Kylian Mbappe celebrates PSG’s French League One title after the French League One soccer match between Paris Saint-Germain and Toulouse at the Parc des Princes stadium in Paris, Sunday, May 12, 2024. (Franck Fife, Pool via AP)

Real Madrid’s players celebrate with the trophy after winning the Champions League final soccer match between Borussia Dortmund and Real Madrid at Wembley stadium in London, Saturday, June 1, 2024. (AP Photo/Kirsty Wigglesworth)

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Kylian Mbappé spoke Tuesday of his “immense pleasure” at finally joining Real Madrid and felt his time at Paris Saint-Germain came to a sad end.

Madrid has reached a widely expected deal with the France star, bringing together a prolific scorer and a record 15-time Champions League winner .

“Finally, it’s official, I am going to be a Real Madrid player for the next five years. It’s an immense pleasure, a dream coming true, a lot of emotions,” Mbappé said at a pre-match news conference in Metz where France hosts Luxembourg on Wednesday ahead of the European Championship. “I’m very, very happy (and) relieved, very proud to be joining a club where I’ve always dreamed of being.”

Mbappé's seven years at PSG came to a somewhat difficult end, and his final season started and ended amid tensions .

He was left out of a pre-season tour to Japan in July after not taking up the option of a one-year contract extension , and then initially left out of the squad as the club insisted he could not leave for free and would be sold.

Mbappe was dropped from the squad for the opening league game of the season and feared he would not be playing at all.

“I was told that, I was made to understand it, things were very clear. I was aggressively spoken to. I was convinced I would not play (that season),” said Mbappé, who praised the intervention of coach Luis Enrique and PSG’s soccer advisor Luis Campos on his behalf. “Without them I would never have played.”

Mbappé informed club president Nasser Al-Khelaifi in February that he was leaving at the end of the season. But when the player made it official that he would not sign another deal with PSG, he did so in a video posted on X and not through the club’s communications department.

There was no ceremony prepared by the club for Mbappé’s final home game against Toulouse, where he was jeered by some fans.

“I wasn’t unhappy at PSG, that would be to spit in the soup (to be ungrateful),” Mbappé said. “(But) some things and some people made me unhappy.”

Mbappé did not give names.

His relationship with Al-Khelaifi reportedly grew increasingly tense when it became clear Mbappé would not sign a contract extension, despite PSG offering him the most lucrative deal in the club’s history when he signed a new contract in 2022 .

Although he scored 44 goals in 48 games and won the French league and French Cup double, Mbappé was not always at his best this season.

He was largely ineffective in the Champions League semifinal defeat to Borussia Dortmund, failing to score in both legs and trudging off the field after PSG went out.

“Someone who’s happy has more chance of playing well but there are no excuses for some of my performances,” Mbappé said. “It wasn’t as high as my usual standards. Yet just to play, to win trophies was my biggest pride. But next season I won’t be satisfied with a season like that.”

Although tensions at PSG affected him, Mbappé said that someone in his position should not complain too much.

“I’m very well paid to play soccer. There are a lot of people who are paid a lot less to work in a factory,” he said. “It would be inappropriate for me to complain to the world, when there are horrible things happening in the world. That’s how I’ve been brought up.”

Mbappé leaves PSG as its all-time record scorer with 256 goals and will captain France at the June 14-July 14 Euros. ___

AP soccer: https://apnews.com/hub/soccer

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