LIV Golf
- Thread starter MarkT
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Deleted member 15717
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badgergm
Newbie
how do you reach that conclusion? PGAT have board majority. PIF have minority stake.
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Deleted member 15344
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badgergm
Newbie
It’s a minority stake. How is that lock,stock?
badgergm
Newbie
It’s said very clearly. PIF have a minority stake.
Mel Smooth
Hacker
PIF have the right to invest what they wish into the new company, and have first refusal on new investment - so regardless of who is on the board, Al Rumayyan has financial control
So PIF ditch LIV, burying it completely, and instead have a minority stake in the PGAT. I didnt think it would play out so quickly, but there was just no way LIV could survive the lack of quality players. You cannot build a successful sports structure on twitter, rumour, and bots. Harrington and Stricker are going to come against tougher competition now that so many former LIV players can move to the Champions Tour.
Springveldt
Well-known member
The new entity will own the commercial rights to all 3 tours and the chairman of that entity (the guy who runs it) is the PIF Governor. The PIF are the only ones who can inject money into the new entity. The PGAT has no way of raising money now that all their commercial rights are owned by the new entity. Basically the Saudi’s own the new entity and the commercial rights to all 3 tours.
The PIF also has a seat on the board of the PGAT not for profit organisation.
I’m not sure how you can read it as anything other than the Saudi’s have just bought the PGAT and the DPWT.
Pin-seeker
Well-known member
Thing with Phil is it’s an article that you like what is being said so you’re taking it all as been gospel.
I think we’re all just going to have wait and see what actually happens.
What would you have said at 9am today if someone had suggested that this was going to happen?
This is a interesting snippet from the article “ The Saudi Arabian royal family is diverting its funding to the PGA Tour and DP World Tour”
blood money,sports washing… jokes of beheading
BubbaP
Occasional Player of Golf
Opinions are free.
Probably this isn't the time but could just as easily paint....
PGAT were worried more stars leaving for 2024. Worried about long term viability of the increased purses, pressure from sponsors, reducing tv audiences. Anti trust suits designed to encourage the decision makers around the table.
Suspect the validity of either opinion will never really be known.
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fenwayrich
Assistant Pro
The Saudis weren't interested in the LIV concept per se, they bought into it because it was sold to them as a way of getting influence in golf. Presumably they have decided that they can gain greater impact for less financial output by ditching LIV and merging with the PGA Tour. That suits Monahan because the Tour doesn't have the financial clout to go head to head with PIF.
It comes at the considerable cost of much humble pie and accusations of hypocrisy, and a lot of players will be very unhappy. It also shows up golf in a very unfavourable light. Certainly, the game I have loved for the last 50 odd years has been tarnished forever, certainly at the professional level. All in all, a great shame.
It comes at the considerable cost of much humble pie and accusations of hypocrisy, and a lot of players will be very unhappy. It also shows up golf in a very unfavourable light. Certainly, the game I have loved for the last 50 odd years has been tarnished forever, certainly at the professional level. All in all, a great shame.
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Deleted member 21445
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The player reactions tell you everything about who feels got the best out of this merger.
Liv Golfers gloating
PGA Players fuming
Todd Lewis on Golf Channel.
"The Liv Golfers won the lottery today"
Liv Golfers gloating
PGA Players fuming
Todd Lewis on Golf Channel.
"The Liv Golfers won the lottery today"
Swango1980
Well-known member
It is crazy that players took millions and millions in signing on fees, and signed up to LIV on 4 or 5 year contracts.
Two years later (I.e. After this season), LIV will no longer exist, and everyone will be back on one big tour. Presumably they get to keep their money, whilst all the players around them simply accept they missed out on virtually free money.
Biggest winners have to be the LIV players. Losers the PGAT players, and possibly the LIV fans themselves, if the LIV format is ultimately scrapped. Jay Monaghan guilty of the biggest u-turn in sporting history, and noticed the 9/11 families have now officially slammed the PGAT.
Two years later (I.e. After this season), LIV will no longer exist, and everyone will be back on one big tour. Presumably they get to keep their money, whilst all the players around them simply accept they missed out on virtually free money.
Biggest winners have to be the LIV players. Losers the PGAT players, and possibly the LIV fans themselves, if the LIV format is ultimately scrapped. Jay Monaghan guilty of the biggest u-turn in sporting history, and noticed the 9/11 families have now officially slammed the PGAT.
Mel Smooth
Hacker
Rory will be on Team Smash with his mate Brooksie next year boys, hate to be the bearer of bad news for all of those that think this is the end of LIV and team golf, but they've literally just got shared access to the PGAT assets - which is the players, so, don't get too excited about the demise of franchised golf...
D
Deleted member 1147
Guest
I hope it won’t upset any LIVers
LIVers ? There are no more LIVers.
BubbaP
Occasional Player of Golf
Rory is generally pretty candid with his interviews. I could understand him feeling -
Used
Foolish
Naive
Compromised
Be interesting to see what he talks about later this week
Used
Foolish
Naive
Compromised
Be interesting to see what he talks about later this week
Mel Smooth
Hacker
I can't help feeling Rory might have had an idea what was going on tbh...
D
Deleted member 15717
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According to Jamie Weir…nope.
found out the same time everyone else did. Same with Tiger.
