So, as we look back at the initial fallout from Wednesday’s PGA Tour’s much-hyped announcement of an agreement with the Billionaire Sports Investors Alliance to make players equity partners, the filthy rich get even richer and the sport’s The fans…well, they got nothing.
Most of the players on the PGA Tour are already wealthier than most of the fans who pay their hard-earned money to watch their sport, but now they’re adding to the millions of dollars they already have in the bank. Are you ready to make millions more?
They are the biggest winners.
Golf fans are most concerned with bridging the gap between the best players in the game, some of whom are on the PGA Tour, and some of whom play on LIV Golf . So you can watch the best players compete against each other in other tournaments. More than the four major tournaments?
you guys are the biggest losers.
Nothing came of this news, which was announced to PGA Tour members on a conference call with PGA Tour Commissioner Jay Monahan (who had a major hand in creating this division that shook the foundations of the sport). , the PGA Tour and LIV Golf are nearing some kind of agreement.
Announced Wednesday, players like LIV players Jon Rahm, Brooks Koepka, Dustin Johnson and Bryson DeChambeau will soon join PGA Tour players Rory McIlroy, Scottie Scheffler and Jordan Spieth. , Justin Thomas and Patrick Cantlay didn’t inspire hope. .
Was the “framework agreement” signed between the PGA Tour and LIV Golf last June 6 primarily to end the legal costs that were draining the PGA Tour’s coffers? Its framework now appears to be made of balsa wood.
The ‘Framework Agreement’, which was supposed to be signed by both parties by the December 31st deadline before being extended until the new year (new decade?) as expected, appears to have been stalled. For now.
On Wednesday, all of Monaghan and Strategic Sports Group, a group of billionaire sports team owners who have invested about $3 billion into a new for-profit entity, PGA Tour Enterprises, said how good this is. We were hoping to have a joint conversation about this. Athletes and sports.
Monaghan gushed about how “historic,” “novel” and “transformative” this deal is, and how it “hasn’t been done on this scale in any other sport.” .
“Today is an important moment for the PGA Tour and golf fans around the world,” Monaghan said. “If we all strive to provide the best sports entertainment and bring the focus back to the great and unparalleled competitive atmosphere created by our players, tournaments and partners, our fans will win.”
What Monaghan didn’t mention is how fans will “win” with this deal since they still won’t be able to watch the world’s top players compete against each other.
In the call, Monaghan said negotiations with the Saudi Public Investment Fund (PIF), which oversees LIV Golf, were “active” and “frequent.” Earlier this month, Monaghan traveled to Saudi Arabia to meet directly with PIF President Yasir al-Rumayyan, and said that some members of the SSG group were also in the country and were conducting “due diligence” as well.
“This agreement with SSG does not affect ongoing negotiations with PIF,” Monaghan said in a telephone conversation. “SSG is aware of and supports the continued dialogue with PIF.”
If the PGA Tour and LIV reach a final agreement, there are antitrust issues that will need to be addressed. Congress announced this week that it will continue its investigation into PIF and its investments in U.S. companies.
Meanwhile, the PGA Tour will this week host its second marquee event of 2024, the AT&T Pebble Beach Pro-Am, with a total purse of $20 million, and LIV Golf will begin its third season in Mexico.
As a result, the disparity between players continues over the course of two tours, and fans continue to lose out along the way.
Webb Simpson, one of six players on the PGA Tour’s policy committee, called the news of SSG’s investment “exciting for us as players” in an interview with Golf Channel.
Asked about his expectations for the deal with PIF and LIV Golf, Simpson said, “I see a future where they too can be partners, but today I just want to be excited about our new partners and the continued growth of the PGA Tour.” ” he said.Still do not know [about a LIV agreement]But we are optimistic that there will be a place for everyone with this deal. ”
The question is whether that “everyone” includes golf fans.
