LIV Golf

Yes you are correct, this came after.
Tough to keep up!

PGA Tour has responded to Woods’ claim. He wrote: “The PGA Tour clarified today that it did not take out a loan to deal with the pandemic in 2020, as Tiger said during his news conference. The Tour used reserves and “mitigating actions” and would have seen a significant reduction in reserves w/o a return to golf in June 2020.”
 
Oddly enough, wasn't he responing to Phil Mickelsons claim that the tour had large cash reserves? Phil has obviously been castigated as a bit of a bad apple in all this, but doesn't this prove him right on this particular matter?
 
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Mel Smooth said:
Oddly enough, wasn't he responing to Phil Mickelsons claim that the tour had large cash reserves? Phil has obviously been castigated as a bit of a bad apple in all this, but doesn't this prove him right on this particular matter?
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No, I think that he was responding to someone owing Phil an apology.....
 
cleveland52 said:
No, I think that he was responding to someone owing Phil an apology.....
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He also claimed the tour would not have survived if the pandemic had continued for another year when he was asked about Phil Mickelson, who previously accused it of hoarding money.

Asked whether Mickelson was owed “an apology” after he was effectively ostracised from the game, Woods replied: “No, absolutely not, no. We took out an enormous loan during the pandemic in which that -- if we had another year of the pandemic, our Tour would only be sustained for another year.

So Phil said the tour was hoarding money, Tiger said it wasn't and it had to take a loan, which has since been denied by the PGAT

Seems to me Phil is more 'on the money' than Tiger on this occasion.
 
One person calls it 'hoarding money'. Someone else might view it as a sensible and pragmatic business decision to retain a reserve which ensured the tour could survive an unforeseen situation such as a pandemic.
 
Mel Smooth said:
He also claimed the tour would not have survived if the pandemic had continued for another year when he was asked about Phil Mickelson, who previously accused it of hoarding money.

Asked whether Mickelson was owed “an apology” after he was effectively ostracised from the game, Woods replied: “No, absolutely not, no. We took out an enormous loan during the pandemic in which that -- if we had another year of the pandemic, our Tour would only be sustained for another year.

So Phil said the tour was hoarding money, Tiger said it wasn't and it had to take a loan, which has since been denied by the PGAT

Seems to me Phil is more 'on the money' than Tiger on this occasion.
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No, the money was taken from the reserve......thank goodness there was a reserve.
That's common knowledge ......Tiger just misspoke.
 
fenwayrich said:
One person calls it 'hoarding money'. Someone else might view it as a sensible and pragmatic business decision to retain a reserve which ensured the tour could survive an unforeseen situation such as a pandemic.
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Well stated above.......You can tell the ones on this board living paycheck to paycheck and don't know the meaning of rainy-day funds.....LOL! (I kid, I kid)
 
This just in:
In his response to Tigers presser......

Phil said that the PGAT was sitting on $800M in reserve cash and that's Illegal.
Phil is wrong, period. A nonprofit can and should have a reserve for unexpected emergencies.
There is no limit to how much a nonprofit can have in reserve......I do believe.
 
fenwayrich said:
One person calls it 'hoarding money'. Someone else might view it as a sensible and pragmatic business decision to retain a reserve which ensured the tour could survive an unforeseen situation such as a pandemic.
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Absolutely fine.

So they've survived the pandemic, and now, while most people, businesses and countries are still paying off the bill they racked up during said pandemic, the PGA Tour have found a load more money sitting around to increase their purses, and invest in other tours, despite the clear and obvious financial hit that have coming from both the consequences of LIV, and from the global economy.

As I understand it, non profits sitting on cash reserves to cover operating expenses is totally legitimate, but certainly in the UK, hardly anybody would have survived the pandemic withouy government assistance - I suspect it was the same in the US? Maybe the PGAT had financial government assistance also, I honestly wouldn't know, but if they did - then it weakens the argument about the necessity of hoarding cash reserves, and if they didn't - then they must have had plenty of cash sitting around.
 
The LIV argument would have more credibility if it didnt engage in mudlsinging at tge PGAT. It gives the impression that the Saudi tour case is not strong enough in its own merits, but needs to also take shots at tge PGAT to justify itself.
Everyone from Greg, the defected players, to internet posters.
 
Backsticks said:
The LIV argument would have more credibility if it didnt engage in mudlsinging at tge PGAT. It gives the impression that the Saudi tour case is not strong enough in its own merits, but needs to also take shots at tge PGAT to justify itself.
Everyone from Greg, the defected players, to internet posters.
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I don't think questioning comments made about Tiger and Phil over the PGAT financials is mudslinging mate - if that's the level of debate you are going to, it's time for you to exit - you won't of course, you're just here for the wummery in the main.
 
Mel Smooth said:
I don't think questioning comments made about Tiger and Phil over the PGAT financials is mudslinging mate - if that's the level of debate you are going to, it's time for you to exit - you won't of course, you're just here for the wummery in the main.
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Once again you twist what was said to suit your agenda!

Backsticks never mentioned LIV mudslinging about PGAT financials as they started it long before then
 
Harry Higgs on the No Laying Up Podcast.

"If Liv decides to change its model and double its field then its bye bye PGA Tour, we have put ourselves in a vulnerable position"

"the only reason Tiger and Rory are talking about comprimise talks with Liv can be that they have access to higher level information than we do"
 
TheBigDraw said:
Harry Higgs on the No Laying Up Podcast.

"If Liv decides to change its model and double its field then its bye bye PGA Tour, we have put ourselves in a vulnerable position"

"the only reason Tiger and Rory are talking about comprimise talks with Liv can be that they have access to higher level information than we do"
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Possibly, but what are the chances that they will double their field, to get more big names it would cost a few billion more, plus those who have not already gone will probably require a lot of convincing
 
As widely rumoured, Sentosa, Mayakoba and Valderamma are 3 of the confirmed venues for 2023.

Valderamma is a great venue for them, obviously hardly breaking news they were going there.
 
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