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

[MattyO1984]

2 minutes ago, sg91 said:

Where in the world did this come from? And how many of the membership knew it was coming?

 

Edit: Apparently not Collin

 

 

Oh it is definitely his account.

Don't be fooled by the lack of blue tick, it just means that Collin is not helping fill the pockets of Elon Musk. 

[Yanki01]

5 minutes ago, 1t2golf said:

The last time I was this shocked...

 

Woah, spoiler alert. 🚨

[SSturm24]

RIP to the TGL 😢

[Golfnutgalen]

I was never anti liv, thank god we'll have some sanity and less censorship in the comments again. 

[wildcatden]

Steal my WGC idea, I steal your Tour. LMFAO 😂 
 

 

[dpark]

Wow, the tour caved. I can’t believe it!

[highergr0und]

Wow.  Haven't posted on here in forever but this is hilarious.  All the positioning, jockeying, etc turns out to be all smoke and mirrors as the tour literally just sold themselves to the Saudis. Having voting rights without controlling the money is like my kids voting on a trip to Disney without asking me if I'm willing to pay.  Lol.  

 

No wonder Rory has been quiet for a few weeks.  And all these guys on LIV will be given a clear path back to the PGA. 

 

 

[LimaSierra]

13 minutes ago, SSturm24 said:

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

So 400 man field tournaments?

[graveydellic]

1 minute ago, Neutral_Impact said:

Something definitely doesn't add up here, how does the PGA tour cave into pressure from an entity with such a low following/viewer numbers?

 

They were never going to outspend the PIF, and now the PIF will seemingly have a stake in the tour.  Alternatively, Phil was right and knew there were some things swept under the rug by the tour that they did not want coming out in court.

[wildcatden]

Just now, SSturm24 said:

RIP to the TGL 😢

Yeah, that’s DOA now. 

[Konklifer]

Season 2 of Full Swing will be a must watch.

[AUTIGER07]

1 minute ago, sg91 said:

Where in the world did this come from? And how many of the membership knew it was coming?

 

Edit: Apparently not Collin

 

Collin isn't the only PGAT who didn't know this was in the works...this is going to be really interesting over the next few days / weeks.

[dodint]

1 minute ago, tipuga93 said:

The "I'm done watching pro golf" comments will also be screenshot gold in a few weeks/months. Hell, probably days for some.

 

 

 

I stopped watching the European Tour when it rebranded. Also stopped watching Formula 1. It's not that hard.

 

The only reason I'll stay here is for the Equipment forum. 

 

The tour doesn't need me, and that's fine. I only mention it because carrying on like we're all hopelessly addicted to this particular product and just won't be able to handle ourselves without it is pretty weak minded. 

[Bye]

It will be interesting to see the details of what is going to be proposed. Presumably next years calendar might need ripping up. 

[N8dogg2669]

2 minutes ago, Neutral_Impact said:

Something definitely doesn't add up here, how does the PGA tour cave into pressure from an entity with such a low following/viewer numbers?

 

Money and Litigation

[JungleJimbo]

13 minutes ago, No_Catchy_Nickname said:

 

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?

 

 

 

 

Edited June 6, 2023 by JungleJimbo

[BlackDiamondPar5]

LIV goes away-- it never really was-- and PGAT gets a giant bankroll. Win for PGAT. 

 

Oh and Norman gets taken out behind the shed 🤣

[Double Dodger]

18 minutes ago, Ronnie Mundt said:

Phil? No. His true colors have shown. This is about not diluting the product and the $$$ involved. He had a good showing at AGNC but otherwise he’s been playing like a hack.

 

How he plays got nothing to do with this. 

[grm24]

1 minute ago, highergr0und said:

Wow.  Haven't posted on here in forever but this is hilarious.  All the positioning, jockeying, etc turns out to be all smoke and mirrors as the tour literally just sold themselves to the Saudis. Having voting rights without controlling the money is like my kids voting on a trip to Disney without asking me if I'm willing to pay.  Lol.  

 

No wonder Rory has been quiet for a few weeks.  And all these guys on LIV will be given a clear path back to the PGA. 

 

 

Still TBD per press release.

[MtlJeff]

3 minutes ago, Neutral_Impact said:

Something definitely doesn't add up here, how does the PGA tour cave into pressure from an entity with such a low following/viewer numbers?

 

It is VERY surprising. Just 20 mins before this happened i posted again that i gave them like 2 more years tops without someone local buying them out.

 

As many have posted this is beyond shocking. 

 

My guess is either there were some major revelations coming they didn't want to get out....Or the Saudis just offered them so much money they couldn't refuse the merger

[animalgolfs]

This is the greatest day in a while

 

We lost the "NO LIV DISCUSSION" ban

 

Oh, we get our players back

[Rob G 89]

I’m gonna miss the Jim Nantz liv jokes

[MK7Golf21]

LIV guys took a gamble and it paid off if this actually happens.

[HeftyLefty5]

this is f****** epic regardless!

[IH82BOGEY]

PIF owns the PGA Tour now.  That's the bottom line.

[Dpavs]

Very similar scenarios regarding competitive league entities in sports have played out historically this way in other sports so I really thought this would happen in time... not as soon as it has by any means... but in time provided LIV endured for a few years.

[EagleGSU]

How embarrassing for the PGA. Now it’s ok to do business with the Saudis! This is different! Lmao

[LimaSierra]

9 minutes ago, 1t2golf said:

The last time I was this shocked...

 

love NCIS

[JungleJimbo]

 

 

[Gamble Gamble]

This reeks of a strategic retreat disguised as a merger.  

 

LIV global average viewership (291k) was less than WNBA playoffs (412k) 

 

Look to what happens to Greg Norman to be a bellwether to how the deal came to be.  If he retains any power it could be a merger, if he is axed or given a sinecure position, this was a retreat propagandized as a merger.