NAPLES, Fla. – The seeds of the CME Group Tour Championship began with a pro-am 15 years ago. In those early years, CME Group Chairman and CEO Terry Duffy received note after note from clients who so enjoyed their rounds of golf with LPGA players that they instantly became fans of the tour.
Beginning in 2011, CME began title-sponsoring the LPGA’s year-ending event, eventually integrating the firm’s Global Financial Leadership Conference in Naples, Florida, with the LPGA’s season-ending event at the Ritz-Carlton’s Tiburon Golf Club. This week, Duffy will hand over the biggest check in the history of the women’s game – $2 million. The overall purse of $7 million is the largest on the LPGA outside of the majors (and is bigger than the purses at two of the five majors). The last player in the field of 60 will make $40,000, close to what 10th place made last week.
Former U.S. presidents, secretaries of state and business tycoons have presented at CME’s conference, and for Tuesday night’s dinner, the firm typically invites a select number of players to attend. Earlier this week, when Duffy asked for the houselights to be turned on so that he could applaud the players in the room, the only people standing were those serving the tables.
Not a single player showed up.
“It’s an embarrassment to a company of my size and an embarrassment to me personally,” said Duffy, two days after the event.
Duffy’s beef isn’t with the players, though — it’s with who’s at the helm.
“I am exceptionally disappointed with the leadership of the LPGA,” he continued. “They better get their act together because they’re going to lose people like me over stuff like this.”
When CME first sponsored the Titleholders event in 2011, the purse was $1.5 million and the winner received $500,000. Three years later, the Race to the CME Globe season-long points race was introduced with a $1 million bonus. That bonus has since been folded into the official prize money with a winner-take-all format. In 2018, it was announced that the winner would receive $1.5 million, which at the time was more than what most PGA Tour winners received.
“This announcement is really about setting a new standard in women’s golf,” said then-commissioner Mike Whan four years ago. “I would love to lie to you guys and say that I called Terry 16 times and pushed and pushed him for it, but it was his idea.”
Duffy aimed to blaze a trail that he hoped other organizations…
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