Ogden Mills Phipps: Thank you, Tim, and congratulations on your success at the PGA TOUR over the years. We can learn a lot from you and your colleagues, and we appreciate you being here today to tell us a bit about its past, its future and what your thoughts are.

I also want to thank all of our speakers for participating in today's program. We enjoyed your presentations and we are very grateful that you gave us your time and your effort. We hope you enjoyed your time in Saratoga.

The Round Table Conference, since its inception 52 years ago, has been about improving conditions within our industry. Before we adjourn, I want to acknowledge someone who has worked tirelessly, often under difficult circumstances, over the past six or seven years to do that. That person is Tim Smith.

As I mentioned and as I'm sure everyone in this room knows, he will be leaving his post on September 1st. Tim wrote the business plan for the NTRA…he firmly established the organization as the sport's first "league office"…and he made concrete and long-lasting progress in the areas of marketing, legislation, television and sponsorship. It goes without saying that he overcame frequent and substantial obstacles along the way and his legacy will live on in the continued success of many NTRA programs. Please join me in a well-deserved round of applause for Tim Smith.

Thank you for coming today. We look forward to seeing you next year.