PGA, LIV tours to merge
- Thread starter Bob Montgomerys Helmet Hat
- Start date
MOU between LIV and PGA Tour to merge. Per CNBC
https://www.cnbc.com/2023/06/06/pga-tour-agrees-to-merge-with-saudi-backed-rival-liv-golf.html?&qsearchterm=PGA Tour
https://www.cnbc.com/2023/06/06/pga-tour-agrees-to-merge-with-saudi-backed-rival-liv-golf.html?&qsearchterm=PGA Tour
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Yeah, not a great outcome.
The two entities signed an agreement that would combine the PGA Tour and LIV Golf’s commercial businesses and rights into a new, yet-to-be-named for-profit company.
PIF is prepared to invest billions of new capital into the new entity.
PIF is prepared to invest billions of new capital into the new entity.
It sounds like the PGA Tour is creating a new commercial entity that consists of its sponsorships and TV rights. The PIF will then buy a chunk of it, so they preserve the membership structure while taking in new investors. MLS did something similar by assigning its marketing rights to SUM then selling a chunk of it to a private equity investor. Other leagues and teams have floated similar ideas. Sounds like a huge win for players on both tours.
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Does Arlo White head to Golf Channel now? Will there be two sets of tournaments: LIV rules vs traditional rules?
There’s gonna be a million questions and the answers to all of them are “we don’t know yet”.
But judging from a few golfers tweets, pga Tour Pros are stunned.
But judging from a few golfers tweets, pga Tour Pros are stunned.
https://www.pgatour.com/article/news/latest/2023/06/06/pga-tour-dp-world-tour-and-pif-announce-newly-formed--commercial-entity-to-unify-golf
The PGA announcement has this key section:
“The PGA TOUR will appoint a majority of the Board and hold a majority voting interest in the combined entity.”
So it seems more that the Saudis agreed to dismantle LIV in exchange for a significant but minority position in the Tour.
The PGA announcement has this key section:
“The PGA TOUR will appoint a majority of the Board and hold a majority voting interest in the combined entity.”
So it seems more that the Saudis agreed to dismantle LIV in exchange for a significant but minority position in the Tour.
Nah he knew. He’s been quiet over the past few weeks and I wonder if the stress of this got to him.
Completely validated the Saudi strategy. I wish US golf fans were principled enough to boycott. But they won’t and the Saudis and Trump have won. Pretty sad, actually.
As a fan, this is probably a good outcome for the product of professional golf. We'll have to see all the details but it seems we're going to get to a place where the best players in the world will be competing against each other more frequently than 4 times a year. That's a good thing.
The Tour accepting the Saudi money and influence is a bad thing. This was a successful sportswashing enterprise by the Saudi's.
Also, it legitimately seems like the PGA Tour players had no idea. I'm not quire sure how that is possible. Shane/NLU are tight with players of influence (Rory, Max, etc.) and everyone seems to have been in the dark.
View: https://twitter.com/shanebacon/status/1666090866115768325?s=20
I hear you, but I'm more than okay watching the Tour without Reed, Mickelson, Garcia, Casey, Bryson, Westwood, and even DJ and Koepka. I may not be in the majority, but I didn't even like having these guys in the Majors.
I don't like the majority of those guys either but I also think it is good to have villains around. Provides content and entertainment.
It really seems like Monahan did this without any player knowledge. I really don't understand how that works considering the Tour is a member run organization. Feels like something the board should vote on? Additionally, I can see players who turned down millions of LIV dollars to stay with the Tour being pissed off that the players who did take the bag are now getting a free ride back (although we'll have to see what the structure looks like when they sort it all out).
You might be in the minority, but I'm right there in it with you.
This might be the most shocking sports news story of the decade, if only because it seems to have come completely out of left field.
Great day for mindless sports watching. Horrible day for professional sports. I don't know the extent this "partnership" between the Tour and the PIF, but it seems safe to conclude that SA has effectively bought a major sports league. Gross.
Great day for mindless sports watching. Horrible day for professional sports. I don't know the extent this "partnership" between the Tour and the PIF, but it seems safe to conclude that SA has effectively bought a major sports league. Gross.
I'm with you on this. If this is what it sounds like, I am out completely. I won't make it more V&N than that.
LIV basically just spent an astronomical amount of money for what amounts to a minority stake in the PGA Tour. Once the dust settles, I think this is seen as a coup my Monahan. And once the money is revealed, the players will get over their initial anger at being left in the dark, in my opinion.
This feels icky. I guess we'll have to see the full details of how this shakes out.
I wouldn't say I missed any of the LIV guys while watching PGA tour events, but I do like having Brooks, DJ and Cam Smith in the majors. The other LIV guys I"m kinda meh on, although I'll always be a fan of Lee Westwood for giving my son his used up golf ball between holes during the PGA at Baltusrol.
I wouldn't say I missed any of the LIV guys while watching PGA tour events, but I do like having Brooks, DJ and Cam Smith in the majors. The other LIV guys I"m kinda meh on, although I'll always be a fan of Lee Westwood for giving my son his used up golf ball between holes during the PGA at Baltusrol.
It sounds like the "Tour" doesn't change though. Everything about it stays the same and it keeps it's tax status. It's a corporate umbrella above that which the PGA tour still controls that now has a ton of money. LIV is still separate for the time being. It's not like Phil is gonna show up at the Fedex Cup playoffs this year (or probably ever).
Plus once players see the money I think they'll feel better.
He didn't even know this was happening. He's gone.
Once they see the new purses I'm guessing they won't care.
Here's the letter Monahan sent to the players this morning:
View: https://twitter.com/acaseofthegolf1/status/1666092033868701697?s=20
View: https://twitter.com/acaseofthegolf1/status/1666092033868701697?s=20
Does the PGA have immunity from the anti-trust law like NFL, MLB? Will the FTC actually allow this?
Fuck yeah, I might actually start watching golf again. The tour product was stale 25 years ago and only because of Tiger did it survive this long. I've stopped watching regular golf in the past 5 years because it's boring as shit and a stale product. Maybe this will invigorate more life into it while paying the players what they deserve.
All for this.
All for this.
I'm kinda melancholy that the NWSL and the WNBA players have zero chance to see this Saudi money. They could use it more than the PGA players.
To me, the key fact is that the PGA Tour controls the new entity going forward.
That tells me that Norman is out (at least in terms of his ability to actually have any impact on policy) and that the structure of the Tour will be an evolution of the current PGA Tour. LIV events will be no more.
That’s pure speculation, so I’ll wait to see the details without commenting on who “won” here. That said, if the Saudi’s remain in at any level it’s hard to argue that their sports washing initiative wasn’t successful.
Will be interesting to see what happens to the massive guarantees the players got for their multi-year contracts.
Edit: Just read the letter. LIV continuing on till the end of 2023 is … interesting. As is the whole issue of leaving the fate of golfers who reapply in the hands of the PGA Tour Policy board.
I think they will stay for the near future. Definitely for this year. They're still separate tours/events/schedules even under this agreement for the time being. There may end up being more crossover events, Ryder Cup partnership, etc but it's not like the LIV players are teeing it up on Tour events this year (or even next). I really don't think much changes in the events themselves anytime soon.
I texted this to Zomp but LIV lost, the PIF won.
Wow. I don't understand how this happens without the tour players knowing. It seems like a gigantic "fuck you" to the players who stayed. Unless of course the money is going to be so crazy no one will care. A few players were specifically against dealing with the Saudis so maybe they're, uh, vocal going forward.
Same here, but I suspect we'll come to think of them when they "return" in the way we think of steroid users in MLB .... they made a lot of money doing something unsavory, went away for a while, and will carry the stench -- which they won't care about since they're rich.
The question I have is that some of these guys went to LIV for the money and the chance to play fewer events during a season. Will this reimagined Tour ultimately require a number of starts per player?