LIV Golf

[sweaty sock]

Listening to Keith Pelley on 5 live. Total train wreck.

"Ive never met Greg Norman"

"We've been in partnership with Saudi since 2018, theres no hint of sportswashing"

"This is the best way to grow the game"

 

[Canary_Yellow]

It’s all transferring to the new entity. Essentially the Saudis have gone from owning LIV to owning the entire of men’s professional golf…

You might be right, but I don’t think it says that?

Even if everything is transferred to this entity, it doesn’t say who owns what proportion of it.

 

[BubbaP]

Gonna be interesting how Monahan explains away these...

Jay Monahan Breaks Silence On LIV Threat - 'My Heart Goes Out To 9/11 Families'

The PGA Tour Commissioner made his first public appearance since the first LIV Golf event

www.golfmonthly.com

 

[sweaty sock]

Jay sold golf to the highest bidder, thank god the r and a and usga are still in power

 

[Bdill93]

BREAKING: PGA players have informed Jay Monahan that the 4pm meeting today has been moved back to 9pm tonight and relocated to the 9th green.

— Shooter McGavin (@ShooterMcGavin_) June 6, 2023

 

[Jigger]

Listening to Keith Pelley on 5 live. Total train wreck.

"Ive never met Greg Norman"

"We've been in partnership with Saudi since 2018, theres no hint of sportswashing"

"This is the best way to grow the game"

Yet the biggest growth market has to be the women’s game. I’m truly shocked and stunned how they missed such an opportunity.

 

[Springveldt]

My reading is that the pga tour and dp world tour is granting access (or licensing) their brand rather than transferring ownership

PGA Tour agrees to merge with Saudi-backed rival LIV Golf

The PGA Tour is merging with Saudi-backed rival LIV Golf, following months of tensions and mounting lawsuits between the competitors.

www.cnbc.com

The PGA Tour has agreed to merge with Saudi-backed rival LIV Golf in a deal that would see the competitors squash pending litigation and move forward as a larger golf enterprise.

The two entities signed an agreement that would combine the PGA Tour’s and LIV Golf’s commercial businesses and rights into a new, yet-to-be-named for-profit company. The agreement includes DP World Tour, also known as the PGA European Tour.

The commercial interests and rights of both the PGAT and the DPWT are being transferred to the new for profit entity which the PIF Governor Yasir will be Chairman.

The Saudi’s also get a seat on the board of the non-profit PGAT.

As I said, this is an acquisition. The Saudi’s just bought the PGAT and the DPWT.

 

[BridgfordBlue]

You might be right, but I don’t think it says that?

Even if everything is transferred to this entity, it doesn’t say who owns what proportion of it.

“The parties have signed an agreement that combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, collectively owned, for-profit entity”

“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.”


So effectively owned by the Saudis, ran (for now) by the pga with Al-Rumayyan as chairman.

 

[BrianM]

Not really - as stated a number of times , I’m no fan of the PGAT and this all just enhances that

The most disappointing thing is the ET being involved and looks like all professional golf outside the majors will be state owned by Saudi - that’s not good in my

If it enhances the DP tour then it can only be a positive, it was on its backside after LIV came in.
Keith Pelley still has a lot to answer in my opinion.

 

[3offTheTee]

I'll ask him and the rest of the group whether we should invite you.
[/

I'll ask him and the rest of the group whether we should invite you.

What makes you think I want to be invited? Already played and it is class.

 

[Mel Smooth]

https://twitter.com/x/status/1666149231801819136

 

[D-S]

I look forward to the press asking the same questions that they posed to the sheepish looking Poulter and Westwood. They have a few more targets now.

 

[Pin-seeker]

Does this mean Poulter will be a future Ryder cup captain?

 

[Canary_Yellow]

“The parties have signed an agreement that combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, collectively owned, for-profit entity”

“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.”


So effectively owned by the Saudis, ran (for now) by the pga with Al-Rumayyan as chairman.

Yes, that’s what I’m reading too, I’d read it differently, but I think you’re right.

PGA Tour agrees to merge with Saudi-backed rival LIV Golf

The PGA Tour is merging with Saudi-backed rival LIV Golf, following months of tensions and mounting lawsuits between the competitors.

www.cnbc.com

The commercial interests and rights of both the PGAT and the DPWT are being transferred to the new for profit entity which the PIF Governor Yasir will be Chairman.

The Saudi’s also get a seat on the board of the non-profit PGAT.

As I said, this is an acquisition. The Saudi’s just bought the PGAT and the DPWT.

Yes, I think you’re right. It’s really quite extraordinary- I can’t help but feel it could yet fall apart, so many hurdles to get over!

 

[BubbaP]

I guess it will depend on how it enhances the ET - at the moment it’s backed by a different Middle East entity - so will PIF replace that backing with theirs

And will it strengthen some of the ET events or enhance it being a feeder tour.

Either way I think it’s never going to go back to what it was

Yep lots of unknowns and a few months of speculation no doubt!
Also where the Asian Tour sits around all this , mind they may have been kinda owned already I suppose

 

[BrianM]

 

[Backsticks]

We can guess now why Rors took the few weeks off to look into his soul.

 

[Backsticks]

PGA Tour agrees to merge with Saudi-backed rival LIV Golf

The PGA Tour is merging with Saudi-backed rival LIV Golf, following months of tensions and mounting lawsuits between the competitors.

www.cnbc.com

The commercial interests and rights of both the PGAT and the DPWT are being transferred to the new for profit entity which the PIF Governor Yasir will be Chairman.

The Saudi’s also get a seat on the board of the non-profit PGAT.

As I said, this is an acquisition. The Saudi’s just bought the PGAT and the DPWT.

Exactly. They couldnt build their own tour, so they bought another. Their failure to compete left them with either leaving the scene, or buying the winning team - the PGAT. The LIV product stank. So they admitted defeat and conceded that the world didnt want Chase Koepkas, LOUD, or youtube.

 

[Tashyboy]

Flippin eck al bet that’s upset a few on here with the happy marriage in the golfing world. There’s no one to blame now

 

[Golfnut1957]

What happened? pic.twitter.com/UeUWurBD82

— Talor Gooch (@TalorGooch) June 6, 2023

Is he wearing white socks there?