To the many things you can say about Donald Trump’s presidential bid, add this: Running for president seems bad for some of his businesses.

Last year, NBC and Univision declined to telecast the Miss Universe pageant. Now the presumptive Republican nominee, Trump was essentially forced to buy out NBC, which was a joint venture partner, then sell off the pageant a few months later. The Trump University federal lawsuit has exposed some unsavory business tactics that he appears to have approved. Also last year, NASCAR moved an awards banquet from the Trump National Doral Miami resort after one of its key sponsors, Camping World, said it would boycott the event if it were held on the Trump property. The reason, said Marcus Lemonis, its chief executive, was “blatantly bigoted and racist comments from Donald Trump in regards to immigrants of the United States.”

(Brian France, NASCAR’s chief executive, endorsed Trump in March, then faced intense blowback.)

On Wednesday, the PGA Tour revealed that a World Golf Championship event was moving from the National Doral, which has had a tradition of holding PGA events that goes back more than half a century, to Mexico. Yes, Mexico.

The Doral is one of America’s best-known golf resorts. It has four courses, including its crown jewel, the Blue Monster, where most of the professional tournaments it hosts are played. Built on swampland acquired in 1959 by a New York developer, it was sold to Morgan Stanley, the investment bank, in 2007 for $500 million. But then came the real estate bust, which had a devastating financial effect on the Doral, causing it to file for bankruptcy in 2011. The resort had also become somewhat rundown.

The Trump Organization, meanwhile, had decided to go all-in on golf; today it owns 17 resorts, up from three in 2007, and its golf resort business is probably the largest piece of the Trump empire. Many of these properties were bought in the wake of the financial crisis, when the golf industry was struggling, and there are many in the business who believe that golf owes Trump a debt of gratitude for investing in the sport during such a tough time.

“I’ve been very good for golf,” Trump has said. Few would disagree.

His purchase of the Doral was typical of his approach. Seeing a chance to buy a distressed property, he swooped it up for $150 million, a discounted price Forbes magazine later described as “almost unbelievable.” He then sank another $250 million into renovating it, including an overhaul of the Blue Monster. Although he lists its revenue, implausibly, as nearly $132 million in the most recent financial disclosure he submitted as part of his presidential run — up from $49.4 million in last year’s financial disclosure form — it is probable that the Doral is his highest grossing and most profitable golf resort. Among his properties, only his Turnberry golf resort in Scotland ranks with it in terms of prestige.

Well before Trump bought the Doral, the PGA used it to host one of its four annual World Golf Championships — tournaments, unlike most PGA Tour events, that are restricted to the top players in the world. Beginning in 2011, Cadillac was the chief sponsor. (From 1962 to 2006, the Doral hosted a more traditional PGA tournament, the Doral Open.) But Cadillac let it be known that it was dropping its sponsorship. The 2016 tournament, which was held in March, would be its last as a sponsor. And though it sought a new sponsor for over a year, the PGA was simply unable to find a company to replace Cadillac.

On Wednesday, when the PGA Tour commissioner, Tim Finchem, confirmed that the tournament was moving to Mexico City, he went out of his way to say the decision to leave the Doral was not a political statement. “From a golf standpoint, we have no issues with Donald Trump,” he said, adding, “The PGA has never been involved nor cares to be involved in presidential politics.”

In earlier statements, the PGA noted that it had a 54-year relationship with Miami and the Doral — something it was reluctant to walk away from. Finchem said at Wednesday’s news conference that the problem was that Trump was such a huge brand: He is likely to overshadow any company that is interested in sponsoring the tournament. And it’s true that after he bought the Doral, Trump would invariably make a showstopping appearance at the tournament, landing his helicopter for all to see, and making the rounds like a conquering hero.

But corporations hate controversy, and they especially hate political controversy. Companies sponsor golf tournaments precisely because they offer a way to market to upscale customers in a setting where the only controversy is about who is going to win. Although there are certainly chief executives and other corporate executives who are supporting Trump, corporate entities on the whole don’t want to be associated with polarizing political positions, whether from the left or the right. And corporations now embrace diversity.

Grupo Salinas, a major Mexican conglomerate, will now bring the tournament to Mexico City. Ricardo Salinas, its billionaire chief executive, has been openly critical of Trump. He told CNBC last year that Trump’s comments about Mexicans showed “the worst face of America.” He added, “It’s a disgrace that someone could speak in terms like that.” Landing the tournament was not only a coup for Grupo Salinas and Mexico, but also a way to one-up Trump.

On Tuesday evening, when Trump told Sean Hannity, the Fox News host, that the tournament was moving to Mexico City — “I hope they have kidnapping insurance,” he said — he claimed that it would allow him to make more money because he would be able to charge full price for his hotel rooms during prime tourist season. Maybe. But losing the tournament hurts nonetheless. Being part of the PGA Tour adds luster to a golf resort, making it more appealing to amateur golfers. A tournament brings in money from fans and corporations. It raises money for charity. People who come to the tournament spend money in the community.

(The Doral is not the only Trump property being deprived of a prestigious tournament. In Scotland, Trump’s Turnberry resort, which he bought in 2014, has traditionally been in the rotation to host the British Open. But the R&A, which organizes the British Open, indicated last year that Turnberry was out of the rotation after Trump’s comments about Muslims.)

After the news about the loss of the tournament was confirmed on Wednesday, Trump angrily suggested that the PGA Tour’s move was akin to other corporations abandoning America — and American workers — for Mexico. “The PGA Tour has put profits ahead of thousands of American jobs, millions of dollars in revenue for local communities and charities and the enjoyment of thousands of fans,” he said.

But he’s wrong to blame the PGA. In this case, the only person Trump has to blame is himself.