PGA Tour agrees to merge with Saudi-backed rival LIV Golf
- Thread starter He Hate Me
- Start date
He Hate Me
I hope everyone is treated the same
jedi ninja
Larry the liberal
Hahahahahahaha. Where are all of the LIV haters? Please, please, please come on in and say you were wrong.
He Hate Me
I hope everyone is treated the same
Yeah, if you need and actively seek for the MSM to be the voice of PR campaigns for you and against the "other side", you are probably not on the right side or at least you are not on the strong side.
jedi ninja
Larry the liberal
Waiting for all the articles to come out criticizing the PGA Tour for allowing sportswashingopcorn:
Wonder if this kills the team element for golf.
The quick quote I saw said the PGA wants to promote the team concept.
jedi ninja
Larry the liberal
"After two years of disruption and distraction, this is a historic day for the game we all know and love," PGA Tour commissioner Jay Monahan said in a statement. "This transformational partnership recognizes the immeasurable strength of the PGA Tour's history, legacy and pro-competitive model and combines with it the DP World Tour and LIV -- including the team golf concept -- to create an organization that will benefit golf's players, commercial and charitable partners and fans."
PGA Tour commissioner Jay Monahan said in a memo to players that a thorough evaluation would determine how to integrate team golf into the game.
PGA Tour commissioner Jay Monahan said in a memo to players that a thorough evaluation would determine how to integrate team golf into the game.
He Hate Me
I hope everyone is treated the same
Gandolf
Leader of the Van Buren Boys
PGA Tour really slapped their greatest champion in the face by announcing this immediately after his tournament has ended after allowing him to basically put out a full-throated endorsement of the Tour and a backhanded slap at the LIV players. Quite embarrassing and really shameful treatment by Monahan.
www.usatoday.com
Jack Nicklaus on LIV golfers: 'I don’t even consider those guys part of the game anymore'
As PGA Tour golfers ready for the Memorial, host and golf legend Jack Nicklaus discussed the impressive list of LIV players not at Muirfield.
www.usatoday.com
jedi ninja
Larry the liberal
How does he reconcile this now? In all honesty, how does he keep his job? Completely useless, the PGA guys obviously know this now after the Tour found all this money after LIV formed…you know basically money they were holding back for decades…and now they’ve joined forces with the same people he just talked about like this? Fuck him.
jedi ninja
Larry the liberal
Hahahahaha, Trump was right again. You don’t say.
jedi ninja
Larry the liberal
PGA Tour really slapped their greatest champion in the face by announcing this immediately after his tournament has ended after allowing him to basically put out a full-throated endorsement of the Tour and a backhanded slap at the LIV players. Quite embarrassing and really shameful treatment by Monahan.
Jack Nicklaus on LIV golfers: 'I don’t even consider those guys part of the game anymore'
As PGA Tour golfers ready for the Memorial, host and golf legend Jack Nicklaus discussed the impressive list of LIV players not at Muirfield.
Monahan seriously needs to go. You’d have to imagine there will be a HUGE backlash against him both from PGA players as well as the general public. It’s tough to see him lasting very long in his position at this point.
Gandolf
Leader of the Van Buren Boys
"A thorough evaluation......" could easily turn into "we'll toss it in the trash and see if anyone misses it." Can't trust Monahan in any of this.
jedi ninja
Larry the liberal
You’re right, it could. But LIV will continue with the team concept, and it wouldn’t be far fetched to think the PGA guys like, and want to play with, the team concept.
Doesn’t have to be an every tournament thing for them, but the Ryder Cup and President’s Cup are extremely popular with the players, so it doesn’t seem too much of a stretch that they’d want some type of team concept in the PGA as well.
At least LIV is dead. Although this takes away the curiosity of what Lee and Poulter were going to do after getting cut after the season. Bummer.
That was going nowhere. They made their point though.
Obviously if I'm a PGA tour guy I'd be livid with Jay.
Nice to see they didn't tell Norman till this morning.
We'll see how this all shakes out in 4-5 months once the final details are in.
That was going nowhere. They made their point though.
Obviously if I'm a PGA tour guy I'd be livid with Jay.
Nice to see they didn't tell Norman till this morning.
We'll see how this all shakes out in 4-5 months once the final details are in.
jedi ninja
Larry the liberal
Why are you assuming LIV is dead? Some of the stuff I’ve read today talks about players being able to “re-apply” for Tour status after the 2023 season. If LIV is dead, there’d be no reason for that as they’d all be coming back to the PGA under the merger.
Sounds like LIV will operate just like the DP World tour does now. So there will be 3 separate entities working together as one for “commercial business” purposes.
He Hate Me
I hope everyone is treated the same
jedi ninja
Larry the liberal
PGA TOUR, DP World Tour and PIF announce newly formed commercial entity to unify golf
PGA TOUR, DP World Tour, LIV Golf merge commercial operations under common ownership
Agreement establishes common goal to promote and grow the game globally for the benefit of all stakeholders, ends litigation
NEW YORK; RIYADH; PONTE VEDRA BEACH, Florida, June 6, 2023 – The PGA TOUR, DP World Tour and the Public Investment Fund (PIF) today announced a landmark agreement to unify the game of golf, on a global basis. The parties have signed an agreement that combines PIF's golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, collectively owned, for-profit entity to ensure that all stakeholders benefit from a model that delivers maximum excitement and competition among the game's best players.
In addition, PIF will make a capital investment into the new entity to facilitate its growth and success. The new entity (name TBD) will implement a plan to grow these combined commercial businesses, drive greater fan engagement and accelerate growth initiatives already underway. With LIV Golf in the midst of its second, groundbreaking season, the PGA TOUR, DP World Tour and PIF will work together to best feature and grow team golf going forward.
Notably, today's announcement will be followed by a mutually agreed end to all pending litigation between the participating parties. Further, the three organizations will work cooperatively and in good faith to establish a fair and objective process for any players who desire to re-apply for membership with the PGA TOUR or the DP World Tour following the completion of the 2023 season and for determining fair criteria and terms of re-admission, consistent with each Tour's policies.
"After two years of disruption and distraction, this is a historic day for the game we all know and love," said PGA TOUR Commissioner Jay Monahan. "This transformational partnership recognizes the immeasurable strength of the PGA TOUR's history, legacy and pro-competitive model and combines with it the DP World Tour and LIV – including the team golf concept – to create an organization that will benefit golf's players, commercial and charitable partners and fans. Going forward, fans can be confident that we will, collectively, deliver on the promise we've always made – to promote competition of the best in professional golf and that we are committed to securing and driving the game's future.
"We are pleased to move forward, in step with LIV and PIF's world-class investing experience, and I applaud PIF Governor Yasir Al-Rumayyan for his vision and collaborative and forward-thinking approach that is not just a solution to the rift in our game, but also a commitment to taking it to new heights. This will engender a new era in global golf, for the better."
"Today is a very exciting day for this special game and the people it touches around the world," said PIF Governor Yasir Al-Rumayyan. "We are proud to partner with the PGA TOUR to leverage PIF's unparalleled success and track record of unlocking value and bringing innovation and global best practices to business and sectors worldwide. We are committed to unifying, promoting and growing the game of golf around the world and offering the highest-quality product to the many millions of long-time fans globally, while cultivating new fans.
"There is no question that the LIV model has been positively transformative for golf. We believe there are opportunities for the game to evolve while also maintaining its storied history and tradition. This partnership represents the best opportunity to extend and increase the impact of golf for all. We look forward to collaborating with Jay and Keith to bring the best version of the game to communities around the world."
Under the terms of the agreement, the Board of Directors of the new entity will oversee and direct all the new entity's golf-related commercial operations, businesses and investments. The new entity will work to ensure a cohesive schedule of events that will be exciting for fans, sponsors and all stakeholders. PIF will initially be the exclusive investor in the new entity, alongside the PGA TOUR, LIV Golf and the DP World Tour. Going forward, PIF will have the exclusive right to further invest in the new entity, including a right of first refusal on any capital that may be invested in the new entity, including into the PGA TOUR, LIV Golf and DP World Tour. The PGA TOUR will appoint a majority of the Board and hold a majority voting interest in the combined entity.
Separately, PGA TOUR Inc. will remain in place as a 501(c)(6) tax exempt organization and retains administrative oversight of events for those assets contributed by the PGA TOUR, including the sanctioning of events, the administration of the competition and rules, as well as all other "inside the ropes" responsibilities, with Jay Monahan as Commissioner and Ed Herlihy as PGA TOUR Policy Board Chairman. PIF's Governor Yasir Al-Rumayyan will join the PGA TOUR Policy Board. The DP World Tour and LIV Golf will retain similar administrative oversight of events on their respective Tours.
The Board of Directors of the new commercial entity will include Al-Rumayyan as Chairman and Monahan as Chief Executive Officer; the new entity's Board will also include an Executive Committee comprising Al-Rumayyan, Monahan, Herlihy and PGA TOUR Policy Board member Jimmy Dunne. The full Board will be announced at a later date, and it is anticipated that all three founding members will have representation.
Keith Pelley, Chief Executive of the DP World Tour, said "This is a momentous day. We are delighted to be able to not only reignite our relationship with PIF, but also to have the opportunity to build on our current Strategic Alliance partnership with the PGA TOUR. Together we will be stronger than ever and well positioned to continue to bring the game to all corners of the globe. To partner in this new entity and influence the growth of the game for all our DP World Tour members is energizing and exciting."
All parties will work in the months to come to finalize terms of the agreement, with details to be announced in due course.
PGA TOUR, DP World Tour, LIV Golf merge commercial operations under common ownership
Agreement establishes common goal to promote and grow the game globally for the benefit of all stakeholders, ends litigation
NEW YORK; RIYADH; PONTE VEDRA BEACH, Florida, June 6, 2023 – The PGA TOUR, DP World Tour and the Public Investment Fund (PIF) today announced a landmark agreement to unify the game of golf, on a global basis. The parties have signed an agreement that combines PIF's golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, collectively owned, for-profit entity to ensure that all stakeholders benefit from a model that delivers maximum excitement and competition among the game's best players.
In addition, PIF will make a capital investment into the new entity to facilitate its growth and success. The new entity (name TBD) will implement a plan to grow these combined commercial businesses, drive greater fan engagement and accelerate growth initiatives already underway. With LIV Golf in the midst of its second, groundbreaking season, the PGA TOUR, DP World Tour and PIF will work together to best feature and grow team golf going forward.
Notably, today's announcement will be followed by a mutually agreed end to all pending litigation between the participating parties. Further, the three organizations will work cooperatively and in good faith to establish a fair and objective process for any players who desire to re-apply for membership with the PGA TOUR or the DP World Tour following the completion of the 2023 season and for determining fair criteria and terms of re-admission, consistent with each Tour's policies.
"After two years of disruption and distraction, this is a historic day for the game we all know and love," said PGA TOUR Commissioner Jay Monahan. "This transformational partnership recognizes the immeasurable strength of the PGA TOUR's history, legacy and pro-competitive model and combines with it the DP World Tour and LIV – including the team golf concept – to create an organization that will benefit golf's players, commercial and charitable partners and fans. Going forward, fans can be confident that we will, collectively, deliver on the promise we've always made – to promote competition of the best in professional golf and that we are committed to securing and driving the game's future.
"We are pleased to move forward, in step with LIV and PIF's world-class investing experience, and I applaud PIF Governor Yasir Al-Rumayyan for his vision and collaborative and forward-thinking approach that is not just a solution to the rift in our game, but also a commitment to taking it to new heights. This will engender a new era in global golf, for the better."
"Today is a very exciting day for this special game and the people it touches around the world," said PIF Governor Yasir Al-Rumayyan. "We are proud to partner with the PGA TOUR to leverage PIF's unparalleled success and track record of unlocking value and bringing innovation and global best practices to business and sectors worldwide. We are committed to unifying, promoting and growing the game of golf around the world and offering the highest-quality product to the many millions of long-time fans globally, while cultivating new fans.
"There is no question that the LIV model has been positively transformative for golf. We believe there are opportunities for the game to evolve while also maintaining its storied history and tradition. This partnership represents the best opportunity to extend and increase the impact of golf for all. We look forward to collaborating with Jay and Keith to bring the best version of the game to communities around the world."
Under the terms of the agreement, the Board of Directors of the new entity will oversee and direct all the new entity's golf-related commercial operations, businesses and investments. The new entity will work to ensure a cohesive schedule of events that will be exciting for fans, sponsors and all stakeholders. PIF will initially be the exclusive investor in the new entity, alongside the PGA TOUR, LIV Golf and the DP World Tour. Going forward, PIF will have the exclusive right to further invest in the new entity, including a right of first refusal on any capital that may be invested in the new entity, including into the PGA TOUR, LIV Golf and DP World Tour. The PGA TOUR will appoint a majority of the Board and hold a majority voting interest in the combined entity.
Separately, PGA TOUR Inc. will remain in place as a 501(c)(6) tax exempt organization and retains administrative oversight of events for those assets contributed by the PGA TOUR, including the sanctioning of events, the administration of the competition and rules, as well as all other "inside the ropes" responsibilities, with Jay Monahan as Commissioner and Ed Herlihy as PGA TOUR Policy Board Chairman. PIF's Governor Yasir Al-Rumayyan will join the PGA TOUR Policy Board. The DP World Tour and LIV Golf will retain similar administrative oversight of events on their respective Tours.
The Board of Directors of the new commercial entity will include Al-Rumayyan as Chairman and Monahan as Chief Executive Officer; the new entity's Board will also include an Executive Committee comprising Al-Rumayyan, Monahan, Herlihy and PGA TOUR Policy Board member Jimmy Dunne. The full Board will be announced at a later date, and it is anticipated that all three founding members will have representation.
Keith Pelley, Chief Executive of the DP World Tour, said "This is a momentous day. We are delighted to be able to not only reignite our relationship with PIF, but also to have the opportunity to build on our current Strategic Alliance partnership with the PGA TOUR. Together we will be stronger than ever and well positioned to continue to bring the game to all corners of the globe. To partner in this new entity and influence the growth of the game for all our DP World Tour members is energizing and exciting."
All parties will work in the months to come to finalize terms of the agreement, with details to be announced in due course.
jedi ninja
Larry the liberal
Notice how they use PIF for the Saudi Public Investment Fund. Hahahahahaha. So if you simply remove the word Saudi, it’s completely okay to do business with them and you don’t need to be asked about apologizing to 9/11 victims’ families.
PIF is “the EXCLUSIVE INVESTOR” initially. Hahahahaha. You seriously can’t make this up, and after the stance Jay and the PGA initially took, this should be incredibly embarrassing for them and heads should roll.
PIF is “the EXCLUSIVE INVESTOR” initially. Hahahahaha. You seriously can’t make this up, and after the stance Jay and the PGA initially took, this should be incredibly embarrassing for them and heads should roll.
As with any situation, I always like to let the dust settle...
Many early tweets/articles indicated that Liv will finish out the 2022 schedule then be done with. The PGA or whatever it will be called now would implement team formats at some point.
Again, we have MONTHS of details to start. I'm simply going off several snippets I read so far.
jedi ninja
Larry the liberal
Interesting. Im not reading it that way at all.
But yes, we should let it all play out. Seems that what I, and a few others, have said all along since LIV became a thing. That’s odd.
And we have.
Most LIV fans told everyone there would be this rush of players last fall. Incorrect.
Then there was going to be a huge influx of top names earlier this year. Incorrect.
LIV had terrible ratings and was lacking star power past their top 6-10 guys. Hey, they "won" but that's moreso due to money and power than their "model".
The game hasn't grown. Only pocketbooks.
You want to grow the game? Toss in a fake pandemic. That's the last great "growth".
Back to the original point... Once it all settles out I'll be interested to see who sticks with LIV (if it continues). The purses on old PGA tour will be crazy big, so decisions will be made.
BringInTheLefty
Pretty much a regular
I’m very mixed with this merger
One thing I’m sure about is those guys on the PGA Tour that turned down those big offers must be kicking themselves in the ass this morning
Also how is Rory going to be received?
One thing I’m sure about is those guys on the PGA Tour that turned down those big offers must be kicking themselves in the ass this morning
Also how is Rory going to be received?
Coverdatspred
Curious About George Costanza‘s Modeling Career
Imagine being Tiger who was offered between 800 mil and a billion or Rory who was offered 500 mil? They gotta feel pretty fucking stupid today for backing the PGA tour only to have them do this.
Saudi blood money blah blah blah....oh wait lets merge.
Saudi blood money blah blah blah....oh wait lets merge.
Gandolf
Leader of the Van Buren Boys
Shocking just how few people knew this was taking place.....Norman was notified THIS MORNING.....players are avoiding interviews because none of them knew this was happening and no one knows what it means going forward.
Monahan and PIV lit a bomb and no one knows what the size, location or damage will be. Crazy.
Monahan and PIV lit a bomb and no one knows what the size, location or damage will be. Crazy.
gps_3
Head of Alabama Department of Decision-Making
DP World Tour is the new name for the European Tour
gps_3
Head of Alabama Department of Decision-Making
The "Saudi blood money" narrative was always so transparently BS by nearly everyone that said it. The players are going to be pissed until they start making more money
BringInTheLefty
Pretty much a regular
For sure
There’s NO way the PGA was going to show their books to anyone
He Hate Me
I hope everyone is treated the same
"our balls are in your court"
Gandolf
Leader of the Van Buren Boys
It sounds like there is going to be a global governing body overseeing all these tours and maybe others that the Saudis will fund. But they will cede operational control to the PGA Tour as the Tour gets a majority of the Board of Directors.
If they do this right, there could still be a team golf league that operates maybe 10-12 weeks a year, along with a regular PGA Tour, regular Euro Tour, and the ability of team golf players to enter Tour events.
Some PGA or Euro events could be stops on the team golf series. The teams could eventually sell equity to outside investors much the way LIV was getting ready to do. There is a ton of potential but right now not much in terms of announced vision.
Another thing not discussed is how this new global governing body interacts with the USGA, R&A, PGA of America and Augusta. There's been talk of trying to limit ball flight.....does this new body play ball with the traditional rule makers or do they decide to supersede them?
Gandolf
Leader of the Van Buren Boys
Not sure who Dan Wolken is....apparently Christine Brennan is busy covering the NCAA women's softball tourney
PGA Tour sold out to LIV Golf and the Saudis. Pro golf will never be the same.
In less than a year, the Saudis went from disruptors to forcing capitulation that laid PGA Tour’s moral high ground to waste. They now own pro golf.
www.usatoday.com
Teapot9
Dr. Van Nostrand‘s Dermatological Assistant
Yup
bones
We Must Protect Our Democracy
Just coming to post. The hypocrisy is amazing but not surprising. The nits and hypocrites are consistent, always.
bones
We Must Protect Our Democracy
He is right again?
National Press Club rips LIV Golf event at Trump Golf Course
The National Press Club called for 'people of conscience' to reject LIV Golf as they play at former President Donald Trump's golf course.
awfulannouncing.com
National Press Club has strong statement against LIV Golf as they host tournament on Trump golf course
Gandolf
Leader of the Van Buren Boys
PGA Tour is the group getting roasted by the opinion writers so far.
sports.yahoo.com
In merging with LIV Golf, the PGA Tour delivered the ultimate betrayal, a secretly negotiated sucker punch on the unknowing pawns and useful idiots it used to wage its temporary public relations campaign.
In merging with LIV Golf, the PGA Tour delivered the ultimate betrayal, a secretly negotiated sucker punch on the unknowing pawns and useful idiots it used to wage its temporary public relations campaign.
guaranteeed
Pretty much a regular
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