The Dubai Desert Basic has grow to be one of many highest profile occasions on the DP World Tour, utilizing a method of attracting high skilled golfers by way of profitable assured look charges.
The web site for the occasion, which Viktor Hovland gained in 2022, lists Slync.io as the present company naming sponsor. The San Francisco-based logistics expertise firm took over after Omega’s 12-year run with the occasion wrapping up in 2021.
Slync.io is a agency that, in line with its communications, combines trade expertise, software program options and digital platforms to unravel challenges in world logistics.
However whereas the startup’s CEO, Chris Kirchner, has been having fun with the nice life, full with an look on the current JP McManus Professional-Am and a membership on the costly Vaquero Golf Membership close to Dallas: The corporate’s practically 100 workers have had lengthy gaps with out paychecks, in line with a surprising story on Forbes.com.
From the story:
Over the previous 18 months, as his firm was working out of cash and struggling to lift funds or appeal to new purchasers, Kirchner had purchased a $15 million non-public jet, joined an unique Texas nation membership, purchased luxurious automobiles , invested in a tech startup and tried to purchase the English soccer staff Derby County.
Chris Kirchner performs his tee shot on the tenth gap throughout day two of the JP McManus Professional-Am at Adare Manor on July 5, 2022 in Limerick, Eire. (Picture by Ross Kinnaird/Getty Photographs)
In response to Forbes, Kirchner had been promoting televisions for Finest Purchase just some years in the past, however his breakneck rise to a perceived place on the high of the tech world enabled a brand new life-style that included membership in Vaquero, which is ranked as probably the greatest non-public programs in Texas, in line with Golfweek’s Finest state-by-state listing.
The initiation into the membership, which features a course designed by Tom Fazio, is $175,000 with annual dues of greater than $15,000. in line with a report.
Slync additionally aligned himself with skilled golfers and Dallas stars of the Nationwide Hockey League.
From the Forbes article:
With the Goldman-led money infusion, Kirchner sought to show his love of golf, and the game on the whole, right into a business focus of Slync. Though there gave the impression to be little correlation between a logistics expertise firm and the PGA, Slync started sponsoring skilled gamers like Justin Rose and Albane Valenzuela. The corporate signed a multi-million greenback endorsement take care of the Dallas Stars NHL ice hockey staff. Kirchner instructed workers that the sponsorships have been a part of the corporate’s new advertising technique. “Executives do not buy software program from web sites,” one worker recalled Kirchner telling him. “They purchase it primarily based on relationships and experiences.” (Rose, Valanzuela and the Dallas Stars didn’t reply to a request for remark.)
In the course of the summer season of 2021, he hosted a bunch of workers on the Vaquero, the place he bragged about {golfing} with Saudi princes and flying to unique locales on his non-public jet, in line with an worker who was there. “The approach to life she led simply did not appear actual,” says a former worker.
In response to the article, Slync is paying $40 million over 5 years to grow to be the title sponsor of the Dubai Desert Basic, and whereas Kirchner is reportedly within the technique of promoting his aircraft and different belongings, sponsorship of the event seems to be stable. As a part of the sponsorship, Slync will obtain tv commercials and an govt retreat.
Kirchner mentioned GulfNews.com earlier than final 12 months’s occasion that the deal to sponsor the Dubai Desert Basic was shortly finalized.
“We obtained into golf not too long ago with our first participant sponsorship and I personally benefit from the recreation at an beginner stage and wished to get into the sport at a sponsorship stage and be part of the group,” Kirchner mentioned in January. “That was step one, after which by way of some casual talks about withdrawing earlier sponsors and whether or not the Dubai Desert Basic can be one thing of curiosity to us or price a dialog. It solely actually obtained extra concrete across the Masters in April of final 12 months, after we discovered this was going to grow to be a Rolex Sequence occasion, one of many elite occasions on the DP World Tour.”