Overview
Amateur golf has evolved significantly since its earliest days when those competing faced a clear line mandating what actions constituted jeopardizing one's amateur status. Having clarity on what is and what is not permissible in order to retain amateur status has proven to be a vexing issue over the years.
On July 1, 2021, the NCAA made it legal for participating athletes to be compensated through NIL (name, image, likeness) agreements, leveraging their identity and notoriety to market product and services. The specific change was prompted via a major and sweeping 9-0 decision in June of that year from the U.S. Supreme Court in the manner by which the NCAA operated previously.
A statement from the USGA issued July 5, 2021 stated that, “the new rules remove many of the restrictions that previously applied to amateur golfers, while ensuring that the integrity of the game is protected by limiting the form and value of the prizes and amateur golfer can accept.” The actions from the USGA only apply to college golfers and those on teams are still prohibited from earning money by providing golf instruction and giving lessons.
The playing field for talented players in golf has now moved into a different dimension. One of the companies involved with such efforts is Transcend Capital Advisors (Madison, NJ and Birmingham, MI) through its involvement with collegiate star players Caleb Surratt (University of Tennessee) and Ben James (University of Virginia).
Before entering their respective NCAA Division I careers both Surratt and James had stellar junior amateur careers. Amateur golf still remains an expensive proposition as players and their families seek to compete in various competitions staged not only througout the USA but also internationally.
The playing stage has now moved into a new chapter with more likely to follow.
Background
Prior to joining Transcend Capital Advisors, Brian Gorczynski spent over 25 years as a private equity investor, most recently as a Partner at Veritas Capital. Previously, he co-founded and was a Managing Partner of North Cove Partners and prior to that, served as Co-Head of BAML Capital Partners, the private equity investment arm of Bank of America Merrill Lynch.
Transcend is a pioneering wealth management firm that is playing a leadership role in bringing name, image and likeness (NIL) opportunities to the amateur golf arena, having recently signed deals with elite college golfers Ben James and Caleb Surratt, two highly ranked players in the world amateur golf rankings and both former #1-ranked junior golfers in the country.
The Gorczynski Story
I grew up outside of Utica, New York – the Mohawk Valley region of New York State is an area rich in golf heritage and there is no shortage of courses one can play. Since the 1950s when our area produced three Ryder Cup players (Ed Furgol – 1954 U.S. Open champion, 6-time winner on the PGA TOUR; Ted Kroll – 9-time winner on the PGA TOUR, 3-time Ryder Cup player, 1956 Tour Money Leader; and Marty Furgol – 5-time winner on the PGA TOUR), followed by another Ryder Cup player in 1991 (Wayne Levi – 12-time winner on the PGA TOUR, 1990 PGA TOUR Player of the Year), the region has continued to produce many top amateur and professional golfers, in both the men’s and women’s games.
My house was a short walking distance from the public course in my town. Junior memberships cost $100 per year for unlimited play and the rest as they say is history. I was hooked from the beginning and my friends and I would play 18, 36, sometimes 54, holes per day. It has been fulfilling to watch the progress of these friends, with all of us coming from modest beginnings and teaching ourselves the game, and many of us moving on to play golf in college and some of us going on to compete on the PGA and the LPGA Tours.
I spent my college summers working in the pro shop at Valley View Golf Course, the Robert Trent Jones, Sr.-designed municipal course in Utica, then (and still) headed by PGA Professional Hank Furgol, Ed’s nephew. Hank was an amazing golf and life mentor for me and the other assistants. His uncle’s win at the 1954 U.S. Open at Baltusrol Golf Club was legendary in our local golf community. In what can only be described as serendipity, in 1993, one of my friends and fellow assistants, Kevin Roman, made a 60-foot birdie putt on the first playoff hole in the sectional qualifier at Old Oaks CC to make it into the U.S. Open at Baltusrol. Having heard of this place of legend, setting foot on the Baltusrol grounds to watch Kevin compete was something I will never forget.
I won the 1994 Utica City Amateur tournament at Valley View after graduating college and moved to New York City the next day to begin my career on Wall Street. I met my wife Cindy in New York and we later moved out to New Jersey to raise our family. Twenty years after watching Kevin compete in the U.S. Open, I was honored to be invited to join Baltusrol as a member. The history of my golf journey and ties with this special club is something I still can’t quite comprehend.
***
What does Transcend Capital Advisors do specifically?
Transcend is an independent registered investment advisor (RIA) that provides a comprehensive suite of wealth management services for individuals and families. The firm was founded in 2019 by Duncan Niederauer, former CEO of the New York Stock Exchange, and a group of partners who believed that the traditional wealth management model was not adequately serving the needs of many clients.
My partners and I come from various areas of Wall Street and have over 100 years of collective investment experience across multiple asset classes. We utilize the power of our networks to provide our clients with access to investment opportunities that are not typically available to individual investors.
How did the sport of golf get on the company's radar screen?
I met Ben James and his father Don in 2018 when Ben was 14 years old and competing in the U.S. Junior Amateur Championship at Baltusrol. We stayed in touch over the years and I was thrilled to watch Ben’s evolution as a player and his ascent to the #1 boys junior ranking in the country.
Being an elite golfer like Ben means traveling to premier amateur tournaments across the country and the associated costs of that are prohibitively expensive for many families. My partners and I decided to sponsor Ben -- and soon thereafter his friend and fellow competitor Caleb Surratt -- because we wanted to make an impact in their lives and do all that we could to help them capitalize on their unique talents and achieve their dreams of playing professional golf.
What role do you play in the connection between the company and a potential golf ambassador?
Like any relationship, so much depends on trust and alignment of values. Given that these players wear the Transcend logo in non-collegiate events and are ambassadors of our brand, our first criteria is always assessing who they are as people. We spent a lot of time getting to know the boys and their families, and better understanding their character, core values, and what motivates them. In the case of Caleb and Ben, these are about as fine as young people you could meet – humble, grateful, and beyond their years in terms of maturity.
What separates golf from other sports from a company perspective?
Golf is a great fit for Transcend. Industry surveys rank golf as the number one interest/hobby of wealth management clients and our partnerships with these athletes offer not only the unique opportunity to help these exceptional young men achieve their dreams, but to do so in an exciting area that many of our clients enjoy.
You played college golf at Boston College and are a member at Baltusrol Golf Club. How important of a role does the sport have on your daily life and how much golf do you play?
I have probably averaged 15-20 rounds the past many years. Unfortunately, my game is a far cry from what it used to be and I miss playing competitively, but I now enjoy the camaraderie of the game more than I ever did growing up. Each day on the golf course with great people is certainly a day to be cherished.
Does the old-time definition of amateur status have relevance any longer?
In the game of golf, I certainly think it does. Unlike how name, image and likeness (NIL) deals are being utilized in some of the higher-profile sports like football and basketball, I would argue that we are doing here is no different than what’s been happening at country clubs across America for decades when members get together to financially support an aspiring young player who wants to give it a go on the mini-tours or Q-school.
The advent of NIL rules, as applied in golf, helps level the playing field and gives talented players like Ben and Caleb the opportunity to travel and compete in the elite amateur events without having to put financial strain on their families. In return, our employees and clients get to join in the excitement of watching the boys progress in their pursuit of greatness, as they did recently when Caleb won the Maui Jim Intercollegiate playing in his very first college tournament.
Just days later, Ben followed suit and won the individual title in his very first collegiate event – the Streamsong Invitational. Incredible performances by two true freshmen! When done right, these NIL partnerships make for a win-win for everyone.
The amateur game is perhaps as exciting as it’s ever been, the players are so talented these days and the fields are so deep. Watching Ben play in the Travelers Championship this summer on a sponsor’s exemption and missing the cut by just a couple shots shows that many of these young players already have the games to compete at the highest levels. As the winner of this summer’s Elite Amateur Cup, Caleb will get his first PGA TOUR start at the Butterfield Bermuda Championship next month.
How do you see the future evolving for talented athletes at a young age?
Like so many things in life, opportunity and outcomes are often a function of access to resources. NIL opportunities will open doors for many talented young athletes and give them the opportunity to achieve their dreams.
How does the NIL partnerships work?
In exchange for providing financial support, Transcend is free to use the athlete’s name, image, and likeness in any marketing materials. Additionally, the firm keeps our employees and clients engaged and informed about the athletes’ tournament performances and career evolution.
Caleb and Ben wear the Transcend logo on their shirts for all non-collegiate amateur golf tournaments and they attend a specified number of events each year (appearance days, client events, meet-and-greets, etc.)
Best advice you ever received -- what was it and who was it from?
Whether it was related to golf, baseball, basketball, or the classroom, my father would always tell me and my siblings that “you get out what you put in.” Don’t expect success to come without hard work and effort. I have found this to be so very true in so many aspects of my life.
***
For more info go to:
