NASCAR Commissioner Steve Phelps Linked To PGA Tour CEO Role According To Report
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
As per a report by Adam Stern of Sports Business Journal, NASCAR Commissioner Steve Phelps has been linked to the vacant role of PGA Tour CEO.
Phelps took the newly formed role of NASCAR Commissioner last month, after holding the role of NASCAR President since 2018. He commented at the time of the announcement:
"I'm honored to take this next step in helping to guide NASCAR, the sport I've loved since my father took me to my first race at 5 years old, continue to grow and welcome new fans, competitors and partners that together create some of the most extraordinary moments in sports.
"I cannot thank the France family enough for their unwavering commitment to our fans, their steady leadership, and most importantly, their stewardship of stock-car racing since its inception nearly eight decades ago.
"This sport is truly one of the great American business stories and I'm privileged to continue as part of that legacy – and especially its bright future."
NASCAR President Steve Phelps attends the Drivers Meeting prior to the NASCAR Cup Series Goodyear 400 at Darlington Raceway on April 06, 2025 in Darlington, South Carolina.
NASCAR President Steve Phelps attends the Drivers Meeting prior to the NASCAR Cup Series Goodyear 400 at Darlington Raceway on April 06, 2025 in Darlington, South Carolina.Despite this, Stern reports that Phelps is still "considered an active and attractive target" for the PGA Tour role. Stern stated:
"The tour's search committee is likely drawn by Phelps' role in re-energizing NASCAR since he took over the stock car racing circuit in 2018, and he holds great respect across the sports business community."
However, Stern added that Phelps will still likely stay in NASCAR for "years to come." He continued:
"His level of interest in the role could not be immediately established, and he thus could wind up staying at NASCAR for years to come, as he is a hardcore fan of NASCAR and has great passion for the sport."
PGA Tour Enterprises has been on the hunt for a new CEO since January 2024. PGA Tour Commissioner Jay Monahan commented in December 2024:
"Everything is on the table.
"We're bringing new perspectives on to our team to help us realize the incredible opportunities ahead for our sport, including launching a search for a CEO of the PGA Tour.
"We can learn so much from across the world of sport and entertainment, and I'm excited to meet candidates for this important new role."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
San Francisco Chronicle
2 hours ago
- San Francisco Chronicle
French Open: No. 1 Aryna Sabalenka faces No. 2 Coco Gauff in the women's final
PARIS (AP) — No.1 Aryna Sabalenka faces No. 2 Coco Gauff in the French Open final on Saturday with both women aiming to win the title for the first time. Gauff lost the 2022 French Open final at age 18 but the American beat Sabalenka in the 2023 U.S. Open final, Gauff's only major so far. The 27-year-old Sabalenka, who is from Belarus, has won three majors but is appearing in her first French Open final. It is the first No. 1 vs. No. 2 final in Paris since 2013, when Serena Williams defeated Maria Sharapova, and just the second in the last 30 years. Sabalenka and Gauff have split their 10 previous matchups evenly, but Sabalenka won their most recent encounter, also on a clay court at the Madrid Open a month ago. ___
San Francisco Chronicle
2 hours ago
- San Francisco Chronicle
How the Vatican manages money and where Pope Leo XIV might find more
VATICAN CITY (AP) — The world's smallest country has a big budget problem. The Vatican doesn't tax its residents or issue bonds. It primarily finances the Catholic Church's central government through donations that have been plunging, ticket sales for the Vatican Museums, as well as income from investments and an underperforming real estate portfolio. The last year the Holy See published a consolidated budget, in 2022, it projected 770 million euros ($878 million), with the bulk paying for embassies around the world and Vatican media operations. In recent years, it hasn't been able to cover costs. That leaves Pope Leo XIV facing challenges to drum up the funds needed to pull his city-state out of the red. Withering donations Anyone can donate money to the Vatican, but the regular sources come in two main forms. Canon law requires bishops around the world to pay an annual fee, with amounts varying and at bishops' discretion 'according to the resources of their dioceses.' U.S. bishops contributed over one-third of the $22 million (19.3 million euros) collected annually under the provision from 2021-2023, according to Vatican data. The other main source of annual donations is more well-known to ordinary Catholics: Peter's Pence, a special collection usually taken on the last Sunday of June. From 2021-2023, individual Catholics in the U.S. gave an average $27 million (23.7 million euros) to Peter's Pence, more than half the global total. American generosity hasn't prevented overall Peter's Pence contributions from cratering. After hitting a high of $101 million (88.6 million euros) in 2006, contributions hovered around $75 million (66.8 million euros) during the 2010's then tanked to $47 million (41.2 million euros) during the first year of the COVID-19 pandemic, when many churches were closed. Donations remained low in the following years, amid revelations of the Vatican's bungled investment in a London property, a former Harrod's warehouse that it hoped to develop into luxury apartments. The scandal and ensuing trial confirmed that the vast majority of Peter's Pence contributions had funded the Holy See's budgetary shortfalls, not papal charity initiatives as many parishioners had been led to believe. Peter's Pence donations rose slightly in 2023 and Vatican officials expect more growth going forward, in part because there has traditionally been a bump immediately after papal elections. New donors The Vatican bank and the city state's governorate, which controls the museums, also make annual contributions to the pope. As recently as a decade ago, the bank gave the pope around 55 million euros ($62.7 million) a year to help with the budget. But the amounts have dwindled; the bank gave nothing specifically to the pope in 2023, despite registering a net profit of 30 million euros ($34.2 million), according to its financial statements. The governorate's giving has likewise dropped off. Some Vatican officials ask how the Holy See can credibly ask donors to be more generous when its own institutions are holding back. Leo will need to attract donations from outside the U.S., no small task given the different culture of philanthropy, said the Rev. Robert Gahl, director of the Church Management Program at Catholic University of America's business school. He noted that in Europe there is much less of a tradition (and tax advantage) of individual philanthropy, with corporations and government entities doing most of the donating or allocating designated tax dollars. Even more important is leaving behind the 'mendicant mentality' of fundraising to address a particular problem, and instead encouraging Catholics to invest in the church as a project, he said. Speaking right after Leo's installation ceremony in St. Peter's Square, which drew around 200,000 people, Gahl asked: 'Don't you think there were a lot of people there that would have loved to contribute to that and to the pontificate?' In the U.S., donation baskets are passed around at every Sunday Mass. Not so at the Vatican. Untapped real estate The Vatican has 4,249 properties in Italy and 1,200 more in London, Paris, Geneva and Lausanne, Switzerland. Only about one-fifth are rented at fair market value, according to the annual report from the APSA patrimony office, which manages them. Some 70% generate no income because they house Vatican or other church offices; the remaining 10% are rented at reduced rents to Vatican employees. In 2023, these properties only generated 35 million euros ($39.9 million) in profit. Financial analysts have long identified such undervalued real estate as a source of potential revenue. But Ward Fitzgerald, the president of the U.S.-based Papal Foundation, which finances papal charities, said the Vatican should also be willing to sell properties, especially those too expensive to maintain. Many bishops are wrestling with similar downsizing questions as the number of church-going Catholics in parts of the U.S. and Europe shrinks and once-full churches stand empty. Toward that end, the Vatican recently sold the property housing its embassy in Tokyo's high-end Sanbancho neighborhood, near the Imperial Palace, to a developer building a 13-story apartment complex, according to the Kensetsu News trade journal. Yet there has long been institutional reluctance to part with even money-losing properties. Witness the Vatican announcement in 2021 that the cash-strapped Fatebenefratelli Catholic hospital in Rome, run by a religious order, would not be sold. Pope Francis simultaneously created a Vatican fundraising foundation to keep it and other Catholic hospitals afloat. 'They have to come to grips with the fact that they own so much real estate that is not serving the mission of the church,' said Fitzgerald, who built a career in real estate private equity. ___ AP reporter Mari Yamaguchi in Tokyo contributed. ___
Hamilton Spectator
2 hours ago
- Hamilton Spectator
French Open: No. 1 Aryna Sabalenka faces No. 2 Coco Gauff in the women's final
PARIS (AP) — No.1 Aryna Sabalenka faces No. 2 Coco Gauff in the French Open final on Saturday with both women aiming to win the title for the first time. Gauff lost the 2022 French Open final at age 18 but the American beat Sabalenka in the 2023 U.S. Open final, Gauff's only major so far. The 27-year-old Sabalenka, who is from Belarus, has won three majors but is appearing in her first French Open final. It is the first No. 1 vs. No. 2 final in Paris since 2013, when Serena Williams defeated Maria Sharapova, and just the second in the last 30 years. Sabalenka and Gauff have split their 10 previous matchups evenly, but Sabalenka won their most recent encounter, also on a clay court at the Madrid Open a month ago. ___ AP tennis:
