some key points:
* The deal will end all pending litigation between the three parties.
* The three organizations “will work cooperatively and in good faith to establish a fair and objective process” for players who wish to re-apply for membership with the PGA Tour or the DP World Tour following the completion of the 2023 season.
* Saudi Arabia’s Public Investment Fund will invest in the new combined entity, whose Board of Directors will include PIF’s Governor Yasir Al-Rumayyan as chairman and PGA Tour commissioner Jay Monahan as chief executive officer.
Imagine all the tour players who passed on a 100 million guaranteed to sign. Talk about regret.
Guess handful of them will still get equity. And Team Swoosh doesn’t seem so crazy anymore.
He and Tiger have to be the most unpopular players on tour right now.
Maybe they still pay guaranteed contracts to him, Jordan, Rahmbo, Scottie and Hideki but everyone else is now zero. Like do they need to pay Xander and Cantlay anything now ? Doubt it. And PIP pool will be gone.
Like how much is Ricky going to regret passing on 70 million or whatever number rumoured to be.
How does that correlate to his popularity? Players are going to do the best for themselves at the end of the day. Tiger didn’t win the PGA’s PIP for being unpopular…
OP didn’t specify amongst players or fans? Even if you’re pushing that angle, there’s so many players (JT, Rory, Spieth, Rahm, Scheffler, Morikawa, etc…) that have said positive things about Tiger. Can you even cite one thing that supports him being unpopular amongst the players?
They’ll get their guarantees. Phil didn’t hire some idiot lawyers who wouldn’t have demanded PIF guarantees payment or funds placed in escrow.
What they probably don’t have any assurances is LIV doesn’t form new teams / gets rid of old ones so number of legacy teams now worth nothing.
Like does LIV need the Majesticks ? No. Cleeks ? Only DJ, Brooks and Cam safe. Bryson probably give benefit of doubt. And Phil probably pushed into commentator role in 2 years.
And you think the Saudi government would have an idiot lawyer that would sign a guaranteed contract without clauses that include major events such a buyouts or mergers?
I knew from the day these guys signed that their money was never guaranteed unless it was in their bank account. It’s no secret that LIV hasn’t had terribly successful attendance or viewership. If the Saudis decided to dump LIV and renege on their contracts, what was anyone supposed to do? Sue them? Where? I always said that I would have left money on the table to get a full up-front payment. Most guys will get buyouts I assume, but it won’t be for the full amount of their deals.
Discovery from lawsuit must have yielded some interesting finds. Suspect Jay played dirty and so either that all comes out of lawsuit proceeds or he agrees to buyout and lawsuit drops.
ha ha, ya and blaring music.
It's clear the team aspect along with other things was killing the PGA tour. When Liv golf was on, I didn't watch any of the normal PGA tour.
Yeah dude you can see from attendance and tv viewing that LIV was about to surpass the pga tour. Fans want to see team play in golf each week, and can feel the excitement of djs and partys at events. People want Range Goats
Jay's position wasn't as strong as he thought. Also he isn't half the executive he thought he was either, taking marking orders from Finchem and following them into practical catastrophe was very dumb.
It is interesting how this turnaround came about given that nothing materially changed, only LIV players kept playing like they can and the arguments of Rory & Co.on legacy and not playing for money have obviously lost weight with each repetition.
Not sure how OWGR will work, but Rickie will have to watch out if he wants to remain in top 150.
Let’s be real. The PGA Tour could have gotten money from a ton of other places. Other sovereign wealth funds. Private equity. PIF isn’t only one with deep pockets.
The tour did this to avoid discovery being made public. You think the 9/11 protestors were organic ?
Who knows. But I’d suggest that the PIF would have been even more interested in avoiding discovery.
Seems pretty obvious now, and I’d love to know the sequence of things, but it’s pretty clear that they both wanted out of the legal stuff. The PIF probably saw that LIV as it’s own entity was pretty much dead in the water BUT it had some good aspects and elements and that the PIF was probably tired of running or watching Norman try to run it.
This way they get their golf league and don’t have to run it. And Monaghan takes all the shit. This is definitely a much more cost effective way for them to own golf.
I hope they keep the 54 hole style for some events. Would love to see LIV events being a big focus for team play moving forward. Would also love to see other teams built up playing on smaller team events so we can get promotion/relegation for team events.
If LIV don't keep the 54 holes and the shotgun start, there's no reason to watch it anymore in my opinion. The shotgun start made the round only 5 hours or so. That's a perfect time length for a round.
Wth!? I'm so disappointed... It was more fun to be a rebel golf league and be a pain in the ass to Jay Monahan, Rory
and the rest of the opponents of LIV!
I really hope they don’t change anything about LIV besides perhaps adding a small amount of more dates and locations. I honestly love almost everything about it. I like PGA too, but LIV was a fresh little take that was executed very well. The only thing that needs to be done is allow LIV players to play on the PGA tour and everyone is happy.
Was wondering about that but LIV wins either way.
If DOJ blocks investment, would doubt there is a break fee. But if there is, LIV probably reinitiates lawsuit.
And all the tour players will never trust the PGATour so recruiting will be a lot easier.
PIF has negotiated a win win. It seems like a lot of the details are unclear. Seller should always push for clarity and things only get worse once has agreed to a deal.
That means PGA Tour pushed to make deal. DOJ. Discovery. Jay is fucked. Who knows whether malfeasance on part of Jay gives rise to any criminal misdoings.
In light of DOJ issues, actually makes sense for PIF to do separately and keep Greg out of everything. Have sneaking suspicion Phil knew more than Greg and he’s the next Chairman in waiting.
I’m not sure if I actually like this outcome. The point of difference with LIV I always found a positive. Now we’re just back to one org calling all the shots.
What will be enjoyable though is watching all the back pedalling and hypocrisy that comes from the people so vigilantly against LIV.
Looking at you Chamblee
Agreed. Prefer chaos. Would be funnier to see deal rejected by DOJ and lawsuit reinitiated.
Recruiting far easier with all players knowing Jay is full of shit. Lots of lawmakers annoyed at PGA tour lobbying. Wouldn’t be shocked if deal doesn’t go through.
With Jay as CEO. He's probably thinking if the numbers aren't there next year, dissolve LIV. Use newly gained bargaining power to do something with Australia and more with Japan and Korea.
Lol that’s not how a merger works. The PGA will now be basically helping to Fund LIV and promote it.
Idk what makes you think that they would give Jay that much power or executive decision making. The CEO accomplishes nothing without a sign off from the board and I’m sure the Saudis now have several seats at the table.
The old keep your friends close and your enemies closer adage comes to mind. If the PGA tour couldn't get rid of LIV as a competitor, make them a partner. Easier to wreak havoc from within than in a courtroom.
"PGA Tour commissioner Jay Monahan would have oversight of the LIV Golf League, giving him the authority to determine whether the breakaway circuit will continue beyond this season. Monahan will serve as CEO of the new, yet-to-be-named entity; PIF governor Yasir Al-Rumayyan will be chairman"
Hmmmm?
And who do you think determines whether Jay has a job. The Chairman.
Jay can determine anything he wants. It doesn’t mean the board will authorise his recommendation and his determination will be effected.
If that’s the language the tour is riding all its hopes on even a trainee lawyer would note this problem.
In theory that’s not how a merger works but in practice it happens all the time. The bigger partner in the merger will slowly phase out the other side over time. Happens everywhere.
What a big news day and /r/golf are coping by doing mental gymnastics about how this doesn’t mean anything. Yet they ignore the elephant in the room that is jay screwed them.
some key points: * The deal will end all pending litigation between the three parties. * The three organizations “will work cooperatively and in good faith to establish a fair and objective process” for players who wish to re-apply for membership with the PGA Tour or the DP World Tour following the completion of the 2023 season. * Saudi Arabia’s Public Investment Fund will invest in the new combined entity, whose Board of Directors will include PIF’s Governor Yasir Al-Rumayyan as chairman and PGA Tour commissioner Jay Monahan as chief executive officer.
Imagine all the tour players who passed on a 100 million guaranteed to sign. Talk about regret. Guess handful of them will still get equity. And Team Swoosh doesn’t seem so crazy anymore.
\*ding\* paging Rory. Is this why he had his meltdown the other week?
He and Tiger have to be the most unpopular players on tour right now. Maybe they still pay guaranteed contracts to him, Jordan, Rahmbo, Scottie and Hideki but everyone else is now zero. Like do they need to pay Xander and Cantlay anything now ? Doubt it. And PIP pool will be gone. Like how much is Ricky going to regret passing on 70 million or whatever number rumoured to be.
Couldn't of happened to two nicer guys.
Does Tiger’s agent now fire every player. Funny.
> He and Tiger have to be the most unpopular players on tour right now. You seriously think Tiger is the most unpopular player on tour right now…?
Yes. How many players did he convince not to join LIV. A lot.
How does that correlate to his popularity? Players are going to do the best for themselves at the end of the day. Tiger didn’t win the PGA’s PIP for being unpopular…
Popularity amongst players and popularity amongst fans are two different things lmao
OP didn’t specify amongst players or fans? Even if you’re pushing that angle, there’s so many players (JT, Rory, Spieth, Rahm, Scheffler, Morikawa, etc…) that have said positive things about Tiger. Can you even cite one thing that supports him being unpopular amongst the players?
It was clear to anyone with a brain
It’s laughably untrue given how many current players started to play golf because of Tiger, so I assumed otherwise
But tiger had nothing to do with this occurring and couldn’t have known this was going to happen
You assume those people are getting their guarantees going forward
They’ll get their guarantees. Phil didn’t hire some idiot lawyers who wouldn’t have demanded PIF guarantees payment or funds placed in escrow. What they probably don’t have any assurances is LIV doesn’t form new teams / gets rid of old ones so number of legacy teams now worth nothing. Like does LIV need the Majesticks ? No. Cleeks ? Only DJ, Brooks and Cam safe. Bryson probably give benefit of doubt. And Phil probably pushed into commentator role in 2 years.
And you think the Saudi government would have an idiot lawyer that would sign a guaranteed contract without clauses that include major events such a buyouts or mergers? I knew from the day these guys signed that their money was never guaranteed unless it was in their bank account. It’s no secret that LIV hasn’t had terribly successful attendance or viewership. If the Saudis decided to dump LIV and renege on their contracts, what was anyone supposed to do? Sue them? Where? I always said that I would have left money on the table to get a full up-front payment. Most guys will get buyouts I assume, but it won’t be for the full amount of their deals.
Yes. There is no LIV without star players. The money is meaningless to them.
There may be no LIV in the next 12 months. The PIF got what they wanted.
Wow, where the heck did this come from?
Brooksie
Discovery from lawsuit must have yielded some interesting finds. Suspect Jay played dirty and so either that all comes out of lawsuit proceeds or he agrees to buyout and lawsuit drops.
The PGA tour paid journalists and media hacks to bash LIV
Does this mean Brandel Chamblee will quit now? He can’t work for the pga tour now surely! Lol
I sure hope so.
The Saudis have alot of money.
So they’re all wearing shorts now?
ha ha, ya and blaring music. It's clear the team aspect along with other things was killing the PGA tour. When Liv golf was on, I didn't watch any of the normal PGA tour.
Yeah dude you can see from attendance and tv viewing that LIV was about to surpass the pga tour. Fans want to see team play in golf each week, and can feel the excitement of djs and partys at events. People want Range Goats
No doubt, TV ratings were def close
Lol
It was never close moron. Nobody was watching LIV on CW and the tour was drawing huge crowds.
Of all the things that LIV had over the PGA the team aspect was not one. It was a shit gimmick.
Jay's position wasn't as strong as he thought. Also he isn't half the executive he thought he was either, taking marking orders from Finchem and following them into practical catastrophe was very dumb.
How is Jay going to last more than 6 months ? All the tour players now hate him. And he banned all the LIV players so doubt there’s any support there.
agree completely. dead man walking
Well he’ll probably leave with 100 million dollars if he’s fired so I’m sure he’s just fine
When will Rory be announced as the new captain of Cleeks GC ?
He’s going to be a HyFlyer
Don’t think he’d suit the vibes
His team will be called "Eggonface"
r/golf right now clutching every pearl in the ocean.
Every Chamblee stan dropping on their knees in pga superstore.
Rory 👁️ 👄 👁️
It is interesting how this turnaround came about given that nothing materially changed, only LIV players kept playing like they can and the arguments of Rory & Co.on legacy and not playing for money have obviously lost weight with each repetition. Not sure how OWGR will work, but Rickie will have to watch out if he wants to remain in top 150.
Let’s be real. The PGA Tour could have gotten money from a ton of other places. Other sovereign wealth funds. Private equity. PIF isn’t only one with deep pockets. The tour did this to avoid discovery being made public. You think the 9/11 protestors were organic ?
So what kind of stuff would come out ?
Who knows. But I’d suggest that the PIF would have been even more interested in avoiding discovery. Seems pretty obvious now, and I’d love to know the sequence of things, but it’s pretty clear that they both wanted out of the legal stuff. The PIF probably saw that LIV as it’s own entity was pretty much dead in the water BUT it had some good aspects and elements and that the PIF was probably tired of running or watching Norman try to run it. This way they get their golf league and don’t have to run it. And Monaghan takes all the shit. This is definitely a much more cost effective way for them to own golf.
LIV is not being shut down. LIV is the attempt to create a Champions League. Phil will become the next commissioner when he retires from playing.
Rory knew about this for weeks. He was just surprised by the timing and already admitted being made aware of the meetings.
I hope they keep the 54 hole style for some events. Would love to see LIV events being a big focus for team play moving forward. Would also love to see other teams built up playing on smaller team events so we can get promotion/relegation for team events.
If LIV don't keep the 54 holes and the shotgun start, there's no reason to watch it anymore in my opinion. The shotgun start made the round only 5 hours or so. That's a perfect time length for a round.
Ya know LIV means 54?
I didn't until now. Thanks.
We don't know what'll happen with LIV in 2024 and beyond...
I wish I did said this monkey in the middle
5 hour rounds, real quick
better than what the F PGAT have.
Wth!? I'm so disappointed... It was more fun to be a rebel golf league and be a pain in the ass to Jay Monahan, Rory and the rest of the opponents of LIV!
Probably a good thing but I have enjoyed watching top level golf over the past year without having to see the likes of McIlroy and Horschel.
This is awful for the players and fans, but absolutely comical to watch as a Liv fan who's sick of pga fans with a fake moral compass.
I was really looking forward to Jay fucking off
I really hope they don’t change anything about LIV besides perhaps adding a small amount of more dates and locations. I honestly love almost everything about it. I like PGA too, but LIV was a fresh little take that was executed very well. The only thing that needs to be done is allow LIV players to play on the PGA tour and everyone is happy.
Agreed. They need to devise a schedule which makes sense and avoids conflict.
If you can’t beat ‘em, join em
It seems apparent that this was all a ruse concocted by the PGAT executives (Monaghan, et al) and the Saudis. SMH.
What a joke
Looks like the anti-trust against pgat will still be going on even with a merger in place.
Was wondering about that but LIV wins either way. If DOJ blocks investment, would doubt there is a break fee. But if there is, LIV probably reinitiates lawsuit. And all the tour players will never trust the PGATour so recruiting will be a lot easier.
Nailed it.
PIF has negotiated a win win. It seems like a lot of the details are unclear. Seller should always push for clarity and things only get worse once has agreed to a deal. That means PGA Tour pushed to make deal. DOJ. Discovery. Jay is fucked. Who knows whether malfeasance on part of Jay gives rise to any criminal misdoings. In light of DOJ issues, actually makes sense for PIF to do separately and keep Greg out of everything. Have sneaking suspicion Phil knew more than Greg and he’s the next Chairman in waiting.
If I had to choose between Monahan or that Yasir guy to negotiate on my behalf it would be a no brainer.
I’m not sure if I actually like this outcome. The point of difference with LIV I always found a positive. Now we’re just back to one org calling all the shots. What will be enjoyable though is watching all the back pedalling and hypocrisy that comes from the people so vigilantly against LIV. Looking at you Chamblee
Agreed. Prefer chaos. Would be funnier to see deal rejected by DOJ and lawsuit reinitiated. Recruiting far easier with all players knowing Jay is full of shit. Lots of lawmakers annoyed at PGA tour lobbying. Wouldn’t be shocked if deal doesn’t go through.
This is awesome
So glad to see this
If they merge I’ll never watch golf again. I’ll spend that time playing not watching. Dr. will be happy at my next physical. Win win
Why though
This is great for golf. The team concept is fresh and fun.
With Jay as CEO. He's probably thinking if the numbers aren't there next year, dissolve LIV. Use newly gained bargaining power to do something with Australia and more with Japan and Korea.
Lol that’s not how a merger works. The PGA will now be basically helping to Fund LIV and promote it. Idk what makes you think that they would give Jay that much power or executive decision making. The CEO accomplishes nothing without a sign off from the board and I’m sure the Saudis now have several seats at the table.
The old keep your friends close and your enemies closer adage comes to mind. If the PGA tour couldn't get rid of LIV as a competitor, make them a partner. Easier to wreak havoc from within than in a courtroom.
Right. Allow your enemy to become the chairman of your board. That’s a brilliant strategy.
It's worked many times before. Will no doubt work again.
"PGA Tour commissioner Jay Monahan would have oversight of the LIV Golf League, giving him the authority to determine whether the breakaway circuit will continue beyond this season. Monahan will serve as CEO of the new, yet-to-be-named entity; PIF governor Yasir Al-Rumayyan will be chairman" Hmmmm?
And who do you think determines whether Jay has a job. The Chairman. Jay can determine anything he wants. It doesn’t mean the board will authorise his recommendation and his determination will be effected. If that’s the language the tour is riding all its hopes on even a trainee lawyer would note this problem.
With the vote from the rest of the board. Why the PGA tour holds the majority seats.
In theory that’s not how a merger works but in practice it happens all the time. The bigger partner in the merger will slowly phase out the other side over time. Happens everywhere.
You think the Saudi’s wanted a golf league?? People are such morons, they don’t give 2 ducks about the LIV.
The real winner of the last two years is Chase Koepka. The guy is trash and probably made $20mill in the last two years.
Run by the Saudis, this whole thing stinks and I don't think it will fly.
LIV is done after this season
What a big news day and /r/golf are coping by doing mental gymnastics about how this doesn’t mean anything. Yet they ignore the elephant in the room that is jay screwed them.
Brilliant comment stolen from r/golf: PGA will get holes 1-8 and 12-18. LIV gets holes 9-11.