Finchem confirms he will retire Jan. 1

Tim Finchem, one of the most powerful men in the business of golf, as well as in the sports world, officially announced he will retire as Commissioner of the PGA Tour on Jan. 1. The longtime commissioner increased the Tour's revenue from $285 million in 1994 to $1.1 billion. Even after accounting for inflation, that still represents a valuation that is more than double of what he inherited. The league's purse grew from $56.4 million to $300 million. 

Finchem had been on the Golf Inc. power list since it expanded in 2001, even placing No. 1 three years ago. But the 69 year-old leader had announced in the summer that he would retire between December 2016 and June 2017. He is leaving at the front end of that time frame, which means his replacement, Deputy Commissioner Jay Monahan, is ready to take over. 

Finchem has worked hard to entice and please more than 100 corporate sponsors who support the various tournaments and bring in the bulk of the assocation's revenue. He even shifted the World Golf Championship to Mexico after he said the Tour was unable to find a sponsor for Trump National Doral. Monahan will now have to deal with the aftermath and the continued issues with the Trump brand. Monahan as been at the Tour since 2008. 

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