"Golf balls used to be a lot more about the brand than the technology, " said Michael Mahoney, the director of golf-ball product management at Titleist.
The rest of the money will be used to help fund youth and club golf programmes which are being developed around the new Aberdeen Asset Management Scottish Open tournament schedule.
Investment firm Aberdeen Asset Management has been unveiled as the new title sponsor of the Scottish Open golf championship at Castle Stuart Golf Links, near Inverness.
According to Gilford's Alexander, the company also wasted too much management time and millions of dollars on expanding into noncore businesses and on a fruitless golf-ball patent-infringement lawsuit against Titleist.