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Top golfers shun Rio Olympics, but Callaway CEO still excited
Golf is an Olympic sport this year for the first time since 1904. But most of the top male golfers are skipping the event.

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Rory McIlroy, Jordan Spieth, Dustin Johnson and Jason Day are staying home because of fears about the Zika virus. Phil Mickelson didn't make the U.S. team. Tiger Woods, arguably still the biggest star in the game, is hurt.

But Chip Brewer, CEO of golf equipment king Callaway (ELY), isn't concerned. He still thinks that the Olympics will wind up boosting exposure for the sport -- and potentially sales of its clubs, balls and cleats.

Brewer said he recently had dinner with Gil Hanse, the designer of the Olympic course in Rio -- and that he's now more excited than ever about golf at the Olympics.

"I can't wait. I've heard a lot about the course down there," Brewer said. "It sounds spectacular and very playable. Scores should be low."

Related: Olympic gold medalist leans on Google

Brewer admitted that it's unfortunate many of the world's top male golfers won't be in Rio. But that's not the case on the women's side.

Nearly all of the top-ranked female players will be in Rio, including Callaway endorser Lydia Ko. The 19-year old from New Zealand is the world's number one golfer and winner of this year's ANA Inspiration, one of the LPGA's four major championships.

"Once the ball goes in the air, there will be a lot of excitement in Rio," Brewer said. "This is a tremendous event and our fingers are crossed that golf stays in the Olympics going forward."

But even if golf doesn't become a new Summer Games mainstay, Callaway is doing just fine. The company recently reported earnings that topped forecasts.

Callaway's stock is up more than 20% this year, and it surged nearly 8% Thursday following the shocking news that rival Nike (NKE) is pulling back on its golf business.

Related: Nike to throw its golf club business in the pond

The http://www.restrow.com/tag/last-minute-golf-deals/





 
 
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