PGA Tour & PIF/LIV Golf Merger

[fixyurdivot]

18 minutes ago, poprocksncoke said:

Someone modified the sign in the locker room

 

I'm watching TGC coverage on this right now... kind of weird really.  They have a live feed of players leaving the "players meeting" with Jay. I have to think the players feel really betrayed, none more so that McIlroy, and some ill feelings towards Jay will not go away too soon.  It would not surprise me that Monahan goes away sooner than later. 

[Thin2win]

I'm not surprised that there was a merger in the end, that seemed like the most likely outcome going back 18 months. I am very surprised that that outcome has the PIF basically buying the PGA Tour, that is not what I would have ever thought was on the table. Jay was out of his element then, and he is out of his element now. Hard to decide if the PGA, CNN or Twitter is having a worse year for their bosses right now.

You definitely feel for Rory and that group who were asked to champion the tour, turn down the big guaranteed LIV money and then have this happen this way. I guess the PIF called Jay and asked if he would rather keep going through the courts or take $4 Billion.

The way that neither LIV or the PGA informed any of their players is crazy, i don't see how Greg(who probably was never told) or Jay keeps their roles coming out of this.

I get the sportswashing, I get 9/11(I was in the military when it happened and deployed to Afghanistan as a result). My belief is sports washing occurs if you can do it without people knowing. The USA still competed in 2 Olympic events this century in China and 1 in Russia. That is as sports washing as it gets. The World Cup, F1 and the DP world tour all host events in these countries. It isn't right, I'm sure a quick poll asking if any of those places should host international events should be allowed and the short answer is going to be NO. Yet, NBC paid billions to get the rights to the Olympics, ESPN did the same for F1 and the World Cup. Every year when F1 goes to Saudi Arabia the drivers host boycotts and stage events to support women's right, this year having local female race car drivers take part in the event.

If the Golfer that get involved with this stay outspoken and continue to raise the social awareness that only helps things change. But, the PGA got paid, the DP tour got paid, many players got paid, and purses will continue to go up. in the end, Billions erase many resistances.

 

[Thin2win]

12 minutes ago, fixyurdivot said:

I'm watching TGC coverage on this right now... kind of weird really.  They have a live feed of players leaving the "players meeting" with Jay. I have to think the players feel really betrayed, none more so that McIlroy, and some ill feelings towards Jay will not go away too soon.  It would not surprise me that Monahan goes away sooner than later. 

 

18 minutes ago, GaDawg said:

He replaces Jay Monahan.

they both have to be on the way out.

[GaDawg]

32 minutes ago, daviddvm said:

I watch comments by Brandel at lunch today on golf channel. He had plenty to say.

He always has a lot to say, but nothing ever makes any sense.

[gavinski91]

Can always count on Padraig to have a measured response.

 

[mardukes]

1 hour ago, GaDawg said:

How long will it take Brandel to get up on all their statistics and personalities?

Brandel has not been heard from all afternoon on the Golf Channel while all other on air people have done interviews. I thought Richie Lerner was going to cry.

No.  He was on.  Question is how does he continue to work in the professional golf industry?  He's only going to comment on amateur golf?  He suggested his employment is not connected to the Saudis.

[J7Hawkins]

I have been on the fence but decided to share my thoughts... To be clear, I am no expert and have no more knowledge outside of what has been publicly posted, but in my work in Private Equity and before my current role I have worked with and seen a lot of Mergers & Acquisitions (M&A) so I'll share my thoughts on the business of the deal accordingly.

 

To me, this is a sinking ship merger, similar to how Google and Apple buy small spinouts all day everyday. You have a young startup that has a solid product (LIV having more value in Assests - being the players) but is hemorrhaging cash at an unsustainable rate. Their leader is a political icon, which means his stature and reputation is too important to let the league fail, which it inevitably would. He (most likely) goes to the PGA and offers to sell LIV to them, to which they decline. He comes back with an offer to pay them the  equivalent of 2-4 years worth of losses for LIV (hundreds of M$) plus all business assets (players and LIV Tour) for a small portion of the whole pie and a seat on the boar (possibly non-voting, but we will never know). This protects the leaders image, giving him the opportunity to spin it as a huge win against the Americans to those abroad/in Saudi.

 

The PGA does the deal because they know that LIV will fail at some point and they will have to mop up then anyway and accept players back, so why not take cash now. Plus, cash on hand gives them the ability to reach agreement with DP World Tour and essentially solidify that they (via the newly named organization) will be in control of golf across the globe for the foreseeable future.

 

I could be way off... just my purely business analysis of the situation. I can't wait to see how this unfolds and what that PGA decides to do with the LIV tour players.

[fixyurdivot]

1 hour ago, GaDawg said:

Going to be some insane backpedaling going on over the next few months.

Monahan is currently meeting with a lot of the  players per the GC. Sounds like they are requesting for him to step down.

Jeff Olgivy was interviewed after the meetings and he did say that a call for a change of leadership drew a standing ovation.  Again, I would be even more surprised than I am now about the merger were Jay to stay on as commisioner.  

I just listened to Brendan's initial response on TGC.  He did bring up one interesting point/thought; that is whether this merger now actually does create a monopoly in professional golf, and whether the merger (under US Law) will be approved.  

 

[mardukes]

If you were watching, you saw outside the meeting two security guards both wearing turbans.  I know, I know, Saudis don't wear turbans but, it was still good for a giggle.

[THEZIPR23]

So much to say, so little time... the good news is I have 3 tee times this week and none of this will have an effect on those. 

[mardukes]

5 minutes ago, J7Hawkins said:

...

The PGA does the deal because they know that LIV will fail at some point and they will have to mop up then anyway and accept players back, so why not take cash now. Plus, cash on hand gives them the ability to reach agreement with DP World Tour and essentially solidify that they (via the newly named organization) will be in control of golf across the globe for the foreseeable future.

 

I could be way off... just my purely business analysis of the situation. I can't wait to see how this unfolds and what that PGA decides to do with the LIV tour players.

OR, PIF told them we're just going to out size you so you might as well sell now.  PIF will shortly own professional golf world wide.  Better hope the next target is not the NCAA.

[poprocksncoke]

[Bosox04]

21 minutes ago, J7Hawkins said:

I have been on the fence but decided to share my thoughts... To be clear, I am no expert and have no more knowledge outside of what has been publicly posted, but in my work in Private Equity and before my current role I have worked with and seen a lot of Mergers & Acquisitions (M&A) so I'll share my thoughts on the business of the deal accordingly.

 

To me, this is a sinking ship merger, similar to how Google and Apple buy small spinouts all day everyday. You have a young startup that has a solid product (LIV having more value in Assests - being the players) but is hemorrhaging cash at an unsustainable rate. Their leader is a political icon, which means his stature and reputation is too important to let the league fail, which it inevitably would. He (most likely) goes to the PGA and offers to sell LIV to them, to which they decline. He comes back with an offer to pay them the  equivalent of 2-4 years worth of losses for LIV (hundreds of M$) plus all business assets (players and LIV Tour) for a small portion of the whole pie and a seat on the boar (possibly non-voting, but we will never know). This protects the leaders image, giving him the opportunity to spin it as a huge win against the Americans to those abroad/in Saudi.

 

The PGA does the deal because they know that LIV will fail at some point and they will have to mop up then anyway and accept players back, so why not take cash now. Plus, cash on hand gives them the ability to reach agreement with DP World Tour and essentially solidify that they (via the newly named organization) will be in control of golf across the globe for the foreseeable future.

 

I could be way off... just my purely business analysis of the situation. I can't wait to see how this unfolds and what that PGA decides to do with the LIV tour players.

I don’t understand the statement about LIV failing, and the PGA Tour taking players back. The Tour had a pretty hard stance about never taking players back, and the failure of LIV would be beneficial for the Tour.  Those players made their choice based on life changing money, and the PGA Tour owes them nothing.

[J7Hawkins]

7 minutes ago, Bosox04 said:

I don’t understand the statement about LIV failing, and the PGA Tour taking players back. The Tour had a pretty hard stance about never taking players back, and the failure of LIV would be beneficial for the Tour.  Those players made their choice based on life changing money, and the PGA Tour owes them nothing.

If LIV failed (they would’ve) then the PGA Tour would undoubtedly make a way for DJ, Brooks, and the gang to be back to playing on the tour. The PGA is a business, not a morality club. 

[RickyBobby_PR]

47 minutes ago, mardukes said:

No.  He was on.  Question is how does he continue to work in the professional golf industry?  He's only going to comment on amateur golf?  He suggested his employment is not connected to the Saudis.

He works for the golf channel not the Pga tour. He will be able to work in professional golf industry. 

[Bosox04]

11 minutes ago, J7Hawkins said:

If LIV failed (they would’ve) then the PGA Tour would undoubtedly make a way for DJ, Brooks, and the gang to be back to playing on the tour. The PGA is a business, not a morality club. 

Just about a year ago, Monahan said that no player that left could ever come back as long as he was Commissioner. 

[Thin2win]

2 minutes ago, Bosox04 said:

Just about a year ago, Monahan said that no player that left could ever come back as long as he was Commissioner. 

Which should be by the end of the week

[Shapotomous]

There may be an epidemic of broken ankles as people fall from their perch on the moral high ground. 

[richk9holes]

Full Swing Season 2.  

[gavinski91]

1 hour ago, mardukes said:

If you were watching, you saw outside the meeting two security guards [.......]

Second time I've seen you make this comment in this thread - seems a bit ignorant to knowingly repeat false stereotypes because you think it's funny. There's plenty of jokes to be made without bringing in a religious group that has zero connection to this entire thing.

[mardukes]

47 minutes ago, gavinski91 said:

Second time I've seen you make this comment in this thread - seems a bit ignorant to knowingly repeat false stereotypes because you think it's funny. There's plenty of jokes to be made without bringing in a religious group that has zero connection to this entire thing.

My mistake but, what religious group?  It's about our misconception.

[PeterHenric]

1 hour ago, gavinski91 said:

Second time I've seen you make this comment in this thread - seems a bit ignorant to knowingly repeat false stereotypes because you think it's funny. There's plenty of jokes to be made without bringing in a religious group that has zero connection to this entire thing.

What’s worse, it wasn’t even funny.

[Bucky CC]

I'm curious to know what exactly was said by Al-Rumayyan that made Jay Monahan trust him within 10 minutes of sitting down.  I would assume it was something straight out of the Wreck It Ralph Bad-Anon meeting.

Monahan, who has repeatedly said he would not speak to PIF representatives and pushed the Tour’s “legacy," told the Financial Times that he began to trust the PIF’s Yasir Al-Rumayyan “10 minutes after sitting down with him in Venice."

[Thin2win]

10 minutes ago, Bucky CC said:

I'm curious to know what exactly was said by Al-Rumayyan that made Jay Monahan trust him within 10 minutes of sitting down.  I would assume it was something straight out of the Wreck It Ralph Bad-Anon meeting.

Monahan, who has repeatedly said he would not speak to PIF representatives and pushed the Tour’s “legacy," told the Financial Times that he began to trust the PIF’s Yasir Al-Rumayyan “10 minutes after sitting down with him in Venice."

[funkyjudge]

16 hours ago, Middler said:

Name one LIV player that would have made more on the PGA Tour? Most if not all of them got signing bonuses unlike the PGA, and the LIV purses are still bigger. Most of the players on LIV were past their (winning) prime, injured or relative unknowns - that wouldn't have done much on the PGA Tour. Why do you think they'd jump ship for LIV, to make less? Some of them were honest enough to admit the same.

I didn’t say, nor did I insinuate that anybody at all left for the LIV Tour to make less. What I did say is that not that many who jumped ship for LIV got huge signing bonuses….and it has been well-documented that there have been many conditions placed on when, how, and even IF, they will get those bonus dollars.

As for whether many or “most” as you say, were past their (winning) primes, I don’t buy that except in a very small handful of instances such as Mickelson. And, as for the relative unknowns, those guys DIDN’T get huge (or even small to midsized) signing bonuses from LIV.

One thing that you cannot deny is that a bunch of second and third-tier tour pros have benefited greatly following the departure of those PGA and DP World Tour pros for LIV, plus the enhanced purses that those tours have instituted in order to better compete and to stem the tide of defections.

Edited June 7, 2023 by funkyjudge

[paperclip]

6 hours ago, J7Hawkins said:

I have been on the fence but decided to share my thoughts... To be clear, I am no expert and have no more knowledge outside of what has been publicly posted, but in my work in Private Equity and before my current role I have worked with and seen a lot of Mergers & Acquisitions (M&A) so I'll share my thoughts on the business of the deal accordingly.

 

To me, this is a sinking ship merger, similar to how Google and Apple buy small spinouts all day everyday. You have a young startup that has a solid product (LIV having more value in Assests - being the players) but is hemorrhaging cash at an unsustainable rate. Their leader is a political icon, which means his stature and reputation is too important to let the league fail, which it inevitably would. He (most likely) goes to the PGA and offers to sell LIV to them, to which they decline. He comes back with an offer to pay them the  equivalent of 2-4 years worth of losses for LIV (hundreds of M$) plus all business assets (players and LIV Tour) for a small portion of the whole pie and a seat on the boar (possibly non-voting, but we will never know). This protects the leaders image, giving him the opportunity to spin it as a huge win against the Americans to those abroad/in Saudi.

 

The PGA does the deal because they know that LIV will fail at some point and they will have to mop up then anyway and accept players back, so why not take cash now. Plus, cash on hand gives them the ability to reach agreement with DP World Tour and essentially solidify that they (via the newly named organization) will be in control of golf across the globe for the foreseeable future.

 

I could be way off... just my purely business analysis of the situation. I can't wait to see how this unfolds and what that PGA decides to do with the LIV tour players.

I don't think you are too far off in your ideas. Now it remains to be seen on whether LIV bought into the PGA Tour or if they essentially "bought" the PGA Tour. Either way, I think Monahan is toast.

[GolfSpy_APH]

As we as staff Monitor this thread I am going to ask membership to also aid in our efforts to hold up our moral code and posting policies. 

If you see something that is out of line or does not Lineup with our moral Codes please report the post and we will take action from there.

Thank you,

Forum Staff

[GolfSpy_APH]

For me I am going to hold all true opinions and written thoughts until a lot more information comes to light.

I think we are still so early in this and the dominos to come are far greater than we may know. 

A true watch this space.

[Luke James]

The PGA Tour and LIV Golf have come together in a signed agreement to consolidate their commercial businesses and rights under a yet-to-be-named new company as per sources. The agreement encompasses the inclusion of the PGA European Tour, also referred to as the DP World Tour. 

Here is one of the articles that I found interesting and have tried to covered in depth content related to this topic - https://golfercraze.com/liv-golf-vs-pga/

What are your thoughts regarding this "On going war of golf?"  Is it a boon or bane?

 

[skraeling]

It’s about money.  Always has been.  Either both sides realized they could make more of it together instead of the M.A.D. War they had going on, or one of them realized they were going to eventually lose.  Maybe both.

it’s money that’s it.