Municipal Bonds

For all the attention that will be showered on Torrey Pines next week, the greatest benefit (or frustration depending on what side of the cash register you stand on) will accrue well after the Open. At Bethpage, an Open-induced bump in rounds was a physical impossibility (the facility is historically maxed out on tee times), but that hasn't stopped the state of New York from charging a little more. As a result, green fees on the Black Course have risen from a pre-U.S. Open rate of about $25 (for New York residents) to a post-Open cost of about $50 ($60 on weekends; non-residents pay $100, and $120 on weekends). Still a very good deal. As Catalano points out, the late Robert Moses, the incomparable New York power pol who in the 1930s envisioned Bethpage, always referred to the park as the people's country club, but says Catalano proudly, "I'm not sure they had country club conditions back then. They sure do now."

Torrey Pines will hit the post-Open jackpot: higher name recognition, better golf course, more rounds and higher green fees. It can't cash in just yet, however. The facility's contract with the USGA forbids a rise in residents' green fees until 2009. The plan calls for residents' fees to go from about $44 now to about $58 next year. Non-residents, however, will feel the impact of the Open a little sooner. Starting July 1 their rate bumps from $145 to $181.

It took the USGA 107 years to find a truly public golf course for the Open. And from the viewpoint of facilities, players, the USGA or even recalcitrant private clubs, the experiment is working. So, where does the Open go next? A daily fee, stand-alone facility?

Says Fay, "Don't bet against it."

November 24, 2009

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June 2009
Bethpage Black: A Flat Finish, Viewer's Guide, Ben Hogan: What Could Have Been
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