The team behind the original creation of PowerPlay Golf (PPG) has now reclaimed control of the business and is setting about the restructuring and relaunch of the sport. PPG is the tried and tested short form of the game, adding drama and excitement without interfering with its core attributes.
PowerPlay Golf was introduced via a live TV broadcast from the Ryder Cup course at Celtic Manor in Wales. The tournament was seen in all corners of the globe, attracting impressive viewing figures and immediate demand for more from broadcasters and viewers alike. The event was produced by various arms of IMG, which made a significant contribution to the establishment of PPG.
A second event was in final planning, again in conjunction with IMG, when disaster struck: the investment company which had bought into PPG was unable to fulfil its commitments as a result of problems arising elsewhere in its portfolio; and shortly thereafter PPG’s three-year title sponsor, SAAB Automobile, was unexpectedly plunged into administration without paying any of the £10million to which it had contracted.
Not surprisingly, these two financial blows suspended PPG’s ambitions. The second event in China had to be cancelled and, of even greater concern, the majority shareholding owned by the investment company was sold, against the wishes of the original team, to another corporate entity. This new majority owner then proceeded to do precisely nothing to develop the format or the business, which was left effectively moribund.
The original team never lost heart or its confidence in the PowerPlay Golf format and, after a protracted negotiation, Ken Schofield, Peter McEvoy, Richard Haywood and David Hardy re-established control over 90% of the company, with the balance held by a number of original ‘friends and family’ investors that have remained loyal to the potential of PPG.
The new board consists of Messrs Schofield, McEvoy and Hardy with Richard Haywood expected to join in 2018. PowerPlay Golf, under its new ownership and with a strong team driving it forward, is now poised to begin the next stage of development with advanced plans for new broadcast events.