Ping Waives 20 Year Old Settlement
By kickntrue on 3/8/10
Ping Eye 2 wedge with U Grooves will be illegal on the PGA Tour starting March 29, because Ping has agreed to waive their settlement from 20 years ago.
“John Solheim and Ping had a terrific opportunity to do something very positive and significant for the game of golf, and we very much appreciate his willingness to take this action,” PGA Tour commissioner Tim Finchem said.So, what could inspire Ping to make such a generous gesture?
In return for the waiver, Solheim is hopeful equipment companies will have a stronger voice when the USGA makes new rules. The USGA will hold a forum this fall to improve the process of creating equipment regulations.Riiight. I'm sure Ping did it JUST for the hopes that the USGA will listen more to equipment manufacturers. I doubt ANY money changed hands...
I hope for Ping's sake it involved a payoff otherwise I'm afraid they got the bad end of this deal. It's one thing to sell out- but to just back down when you're on the right side of the law would be weak.
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Surely they broke the rules 20 years ago when they first manufactured these clubs? The spec's on golf clubs are explained and illustrated in the rules of golf. Simples innit.
The specific rules didn't exist, they were introduced afterwards and hence the PING clubs in existence were grandfathered. In addition, I doubt there was any payoff as PING isn't making any money on the clubs anymore because the settlement only applied to the specific irons that were manufactured 20 years ago - they've already made all the money that they were going to do. I actually think that they have been very fortunate as they've managed to leverage a relatively worthless settlement (on an ongoing basis) into greater involvement in future rules (potentially very lucrative).
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