Earnie Ellison- The Deal

Financial Power Moves Facilitated by the Fairway

TGM: What course were you playing when the deal began to take shape?

PGA Golf Club, Port St. Lucie, Florida. But the first contact was made at Medinah Country Club.

TGM: Did you know in advance you were going to use this outing on the links to work the deal or was it a spur of the moment decision?

I knew that we would get to know each other and would try to understand if we had enough in common to create a partnership between our two companies.

TGM: Was there anything in particular about the way the game progressed that suggested that it would be a good idea to get down to business? 

Yes. As we were getting to know each other we discovered that we had a lot in common—lifestyle, family, personal goals, professional and social accomplishments.

TGM: Did the round reveal anything about your  “opponent’s” character that encouraged you to press forward with the proposal?

Yes. He was a person with a lot of heart who was looking to make a difference and to create a legacy not just for himself but for his business as well. However both of us were very sensitive to using our individual influence to deliver value back to our prospective companies.

TGM: Did you let your “opponent” win in order to stroke his ego?

No. We are both very competitive individuals. We played to win. 

TGM: What was the final score?

I don’t remember, but I won the money.

TGM: How much capital was on the line?

At the time of our initial discussions we had no idea.  But it evolved to be a $1million deal with a media exposure worth in excess of $10 million.  Not only that, but it provided a vehicle for some of our nations black colleges to have TV coverage to promote the quality of their collegiate golf programs and scholarships.

TGM: How did the deal impact your business in the long run?

The initial contract was for three years and our partnership is now in its tenth year. We are currently working on an extension for three more years.  This long term relationship is directly associated with the fact that we continue to go back to the initial question­­— “What is the value add to the partnership?” We jointly review this every year.  I should also note that this partnership has opened doors to other opportunities that have benefited both companies.