PGA TOUR, DP World Tour and PIF announce newly formed commercial entity (*** NO POLITICS ***)

[manVSgolf]

I have honestly not been this shocked since Kobe Bryant’s death.  

[SSturm24]

Seems like this includes the DP World Tour as well?/ All tours merging together?

[BlackDiamondPar5]

9 minutes ago, MtlJeff said:

PIF is prepared to invest "billions" into new entity...CNBC also reporting....

 

LOLOLOLOLOLOLOLOLOL

 

Taking that money is evil and wrong and bad for the game, these guys don't even like golf! The spirit and very existential nature of golf is under threa....

 

Wait did you say Billions? OK we're in

 

[tbowles411]

Just now, Yanki01 said:

LIV playing 4d chess this whole time. 

It was always about the money.  PGAT knew they couldn't outspend PIF and knew they would attract more and more players that wanted to get paid every single week.  They clearly weren't in such a good spot after all.  The Saudis are already in major sports like soccer and Formula One.  No one ever cried about that.  LIV grew and had the money to do so.

 

This will be entertaining for sure.  Poor Brandel and the rest of the PGA Tour stalwarts who railed about this for two years and tried to brainwash the masses about "tradition."  There are many traditions in golf that died that needed to.  Yup, cash talks and the PGAT decided they'll take some of that Saudi money too.  It's a business after all...

[larciel]

CEO of DPWT saying they are glad to have access to Saudis money again. Lol. This is soooooo funny.

[wildcatden]

So Phil did “know some shady things” going on at the PGA Tour? 
 

Or possibly, the PGA Tour execs finally got the LIV contract number that made them change their mind. 

[bscinstnct]

2 minutes ago, RSinSG said:

@bscinstnct

 

Excellent timing with the OP. Are you on a news service hot list or just lucky? This won’t be as epic as the Kirkland balls thread, but it has potential to move the needle. I wonder how the poor WRX mods are going to deal with it. Will there still be the “No LIV reference” going forward?

 

Yo, just happened to have CNBC on, David Faber got the scoop it seems 

[Titleist84]

Sounds like Jack was blind sided by this,he just said he didn't consider the LIV golfers parts of the game anymore.

[No_Catchy_Nickname]

5 minutes ago, Cincy_Ken said:

Completely depends on the terms of the deal. I'm not anti-LIV; I enjoy watching their tournaments.  But they have not gotten anyone to watch their tournaments.  The only way PGA would agree to favorable terms is if they felt they were almost certain to lose anti-trust case.

 

This was in the announcement on the PGAT website:

 

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.

 

Majority voting interest for PGAT, but PIF controls investments/funds?

[bladehunter]

I just got a notification that said this. This is maybe up there shock value with 9-11 or Jordan’s first retirement.    What the actual crap.  

[MattyO1984]

Has WRX's ever been this busy on a Tuesday morning?! 

[jholz]

If LIV just does away with the teams concept and music on the course, (and maybe P. Reed/Ian Poulter) I'm good with it. 😜

[GregNormans1Iron]

This will be very embarrassing for Rory after he really put himself out there for the PGA Tour. 

 

[caniac6]

Hope PGA tournaments don’t turn into the circus that LIV tournaments are.

[larciel]

1 minute ago, Titleist84 said:

Sounds like Jack was blind sided by this,he just said he didn't consider the LIV golfers parts of the game anymore.

He could've had a billion! But he backed out.

 

Kudos to him. But I hate pga officials and those who were vehemently bashing liv for stupid reason like 'Saudis blood money' 

 

Look what pga is getting, the blood money!!

[cohenfive]

A couple more important details....CEO of the company is Monahan, Chair of Board is the Saudi PIF guy. No mention of Norman. Also, PGA tour will hold the majority of the board seats and will have control of governance. So maybe not such a bad outcome for the PGA at the end of the day...Everyone comes back together, the global tour will have unlimited funds to invest, and PGA tour will be primary driver in terms of the company at least. That's how I read it anyway...

[PearSorbet17]

Just now, caniac6 said:

Hope PGA tournaments don’t turn into the circus that LIV tournaments are.

The Waste management 

[manku]

I was on the fence about ever volunteering again at a golf event...this seals the deal.  FWIW, I've volunteered at local USGA events and Riviera for many years.

 

Find some other patsies to work for free.  My mistake...forgot we actually have to pay to volunteer!

Edited June 6 by manku

[bladehunter]

1 minute ago, caniac6 said:

Hope PGA tournaments don’t turn into the circus that LIV tournaments are.

Yep. Me too.  I’m done with pro golf if they do.  

[MattyO1984]

Keenly waiting on the response from the likes of Rory, JT and Spieth - guys that you know would have been offered $$$ but refused whilst the likes of Brooks, DJ and Bryson now get the best of both worlds from it all. 

[fundustrial]

The PGA players who turned down massive LIV contracts must be happy...

[larciel]

1 minute ago, caniac6 said:

Hope PGA tournaments don’t turn into the circus that LIV tournaments are.

I bet players loved it.

 

There will be more competition like that. 2-5 events per year is fine.

[fillwelix]

https://twitter.com/Mike_kim714/status/1666086822357913602?s=20

[paulshack]

1 minute ago, MattyO1984 said:

Has WRX's ever been this busy on a Tuesday morning?! 

What day of the week did tiger crash his SUV? 

Im looking forward to Phil's response 

[N8dogg2669]

Uh oh..... Does this mean the PGA Tour is now taking "BLOOD MONEY" from the Saudi's??? Gonna be a whole lot of WRXers who are going to be looking for a new tour to support, or a whole lot of hypocrites. 

[wy3134]

heh guess the PGA didnt want their dirty laundry airing in courts. phil was right all along, and its gonna be awesome to see all the moral high ground twats cry over this one. the mental gymnastics is gonna be fun to watch 

[wildcatden]

So we can get rid of the “ No LIV references” from forum topic posts now? 
 

If anyone was banned by WRX for doing so, will that be lifted?

[grm24]

Interesting that this was announced after this article was posted on the GC site early this morning,

 

https://www.golfchannel.com/news/liv-golf-vs-pga-tour-antitrust-case-has-reached-appeals-roadblock-could-delay-proceedings

[1t2golf]

The last time I was this shocked...

 

 

Spoiler

 

Edited June 6 by 1t2golf

[MichaelGFox]

27 minutes ago, PearSorbet17 said:

Chamblee in shambles

lets not pretend half the users here arent either