The First New Zealand Open to be co-sanctioned with the European Tour has to be regarded as a success in that the quality of golf was outstanding, the course was in immaculate condition and the fans had a good time. But the harsh reality is that the event lost $400,000.
That was expected and budgeted for. But as New Zealand Golf's reserves are only about $3 million and the organisation has not made a surplus for at least three years, the reserves are being eaten into.
Chief executive Larry Graham has talked about this year being an "investment".
He must start getting a return from the New Zealand Open as soon as next year and then look to make the tournament not a liability, but the cash cow that feeds the development of the game in this country.
He'll be looking to expand the tournament's commercial programme and can do so knowing the event has enjoyed genuine international television coverage.
This year's event was seen in 20 countries, essentially the 20 richest countries in the world, plus the expanding golf markets in Asia.
But he has a problem raising awareness of the event in New Zealand.
The TV3 ratings were poor compared to previous telecasts.
When they did build the audience to a respectable size on Sunday night during the playoff, they blew any goodwill they'd built up with the unforgivable decision to leave the golf and go to the news.
The average size of the audience for the final afternoon of coverage was only 1.8 per cent of the population, or about 70,000 viewers at any one time.
Three years ago the Tiger Woods Open, by comparison, had a 13 per cent rating during the final afternoon - about 460,000 viewers in any given quarter hour. That was an exceptional rating for golf but even a quarter of that would be a vast improvement on last week's tournament.
Assuming the tournament stays at Gulf Harbour in the immediate future, there's some other opportunities to be had by having the tournament become a "must do day out" the way the Boxing Day races are or the Eden Park one-day international used to be.
The ferry services must become more evenly spread through the day to allow for later arrivals and earlier departures.
There has to be a people mover service to transport spectators around what is a very expansive golf course and some more on course eating and drinking facilities are needed too.
In fact I'd like to see the 15th hole, the final par three, developed like the 16th at the Phoenix Open.
Surround it with grandstands, corporate boxes and a public restaurant and bar and encourage fans to spend a few hours there. The players will find it's like entering the lions den but in Phoenix it provides some of the best entertainment and fun on the PGA Tour.
But the clincher to transform the New Zealand Open into a really significant stop on the Tour will be to get at least one seriously good marquee player.
Ernie Els and Colin Montgomerie were in Melbourne the week before Gulf Harbour. Padraig Harrington and Miguel-Angel Jiminez are in Malaysia this week.
Those sort of players cost money to play and the New Zealand Open doesn't have enough to pay yet. The real challenge is to make enough so it can.
* Peter Williams is a news presenter for TV One.
The First New Zealand Open to be co-sanctioned with the European Tour has to be regarded as a success in that the quality of golf was outstanding, the course was in immaculate condition and the fans had a good time. But the harsh reality is that the event lost $400,000.
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