The United States Golf Association expects to lose $10 million on this year’s U.S. Open. The amount was reported by an anonymous source to Bloomberg Businessweek, which credits the loss to space-related limits on ticket sales at Merion Golf Club and a resulting decline in revenues from concessions and merchandise.
This news needs to be digested with a grain of salt, however, because the USGA is collecting interest on $274 million in reserves. The group may be not be thrilled about the bottom line at this year’s U.S. Open, but it’s crying all the way to the bank.