LIV and PGA Tour Merging

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CyclingAg82
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In reply to cb1919 • 9:27a, 6/6/23
AG
cb1919 said:
CyclingAg82 said:
tommyjohn said:
Guys that left for LIV made out like bandits.
Good for them, they rolled the dice and it paid off.


I don't know if cashing a check for $100M really classifies as rolling the dice
When they took the leap, there was a lot of uncertainty around the majors, litigation, outcomes etc. Yes, a few of them received giant paydays.....but the guys that were relegated when bigger names were signed....

Yeah, those lower ranked guys rolled the dice.

Glad you got a chuckle out of it.
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oragator
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9:27a, 6/6/23
Yeah, put me in the "wow" camp. That was literally the first word that same out of my mouth,
But if the guys who jumped get to keep that money, they made out like few have ever done in the history of sports.
I am not at all a fan of the Saudis, I want to see what this deal looks like. What I am hoping is that the LIV settled because they were taking an absolute bath, and didn't get much out of it other than saving face and some shares in the new entity, But I guess we will see.
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Duckhook
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9:27a, 6/6/23
AG
As we speak, Chamblee is sharpening his sword in preparation for committing hari-kari live on-air.
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rgag12
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In reply to EMY92 • 9:27a, 6/6/23
AG
EMY92 said:
I figure that the Saudis were pushing hard for the merger. LIV made news, but no one watched it. By merging with the PGA, they can actually get their message out to people.


I think it means LIV is going to slowly fade away into obscurity
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G. hirsutum Ag
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9:30a, 6/6/23
AG
Mickelson is the GOAT

And bravo for the LIV. I hope we can keep some of the tech that LIV had because I thought it was great
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Mr.Bond
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9:30a, 6/6/23
AG
****in LOVE IT
Im looking for Ray Finkle.... and a clean pair of shorts. Im just a very big Finkle fan. This is my Graceland, sir.


MAGA

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JP_Losman
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9:31a, 6/6/23
AG
Both sides seem to be claiming victory.

This is like Exxon Mobil buying a little start up. Why are LIV guys celebrating?
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class of 03
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In reply to Bunk Moreland • 9:31a, 6/6/23
I'm doing just fine. However, if they give me dumbass shotgun starts and some team golf garbage, I'm gonna be pissed.
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EliteElectric
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9:32a, 6/6/23
Brandel Chamblee on suicide watch now lol
www.elitellp.net/

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jonj101
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9:33a, 6/6/23
Maybe this is why Rory has been down lately, and why Phil has been on a vocal streak.
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MarathonAg12
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9:33a, 6/6/23
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Pignorant
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9:34a, 6/6/23
AG
The LIV brand will slowly be fazed out and the PGA Tour will continue on.
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txags11
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9:34a, 6/6/23
AG
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Dies Irae
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In reply to jonj101 • 9:34a, 6/6/23
jonj101 said:
El Oh El.

All that hand wringing and whining. All that parading the 9/11 families out for a photo op and under the image of principles when in reality it was all about protecting their business and all of us who called out the hypocrisy knew it from jump.

This is utterly hilarious.
It was all absolute manufactured outrage; everyone acting like the LIV was the evil empire for getting into bed with Saudi. Schlumberger, Nabors, Halliburton, Disney, Aramco, the list goes on and on.
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cone
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9:35a, 6/6/23
AG
https://www.pgatour.com/article/news/latest/2023/06/06/pga-tour-dp-world-tour-and-pif-announce-newly-formed--commercial-entity-to-unify-golf

Quote:
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.

LOLOLOLOLOL
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zgolfz85
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9:36a, 6/6/23
AG
on PGA socials, they're not even saying "LIV"....reffering to it as PIF (Public Investment Fund)

still being *****es about it
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zgolfz85
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9:37a, 6/6/23
AG
so, do the LIV contracts continue to be honored? If so, those dudes all made out like bandits and now get the best of both worlds. good for them
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jonj101
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In reply to Dies Irae • 9:38a, 6/6/23
Dies Irae said:
jonj101 said:
El Oh El.

All that hand wringing and whining. All that parading the 9/11 families out for a photo op and under the image of principles when in reality it was all about protecting their business and all of us who called out the hypocrisy knew it from jump.

This is utterly hilarious.
It was all absolute manufactured outrage; everyone acting like the LIV was the evil empire for getting into bed with Saudi. Schlumberger, Nabors, Halliburton, Disney, Aramco, the list goes on and on.


Bingo - add to that list UPS who ended their longtime sponsorship of Louis and Lee Westwood while still maintaining operations in that area.
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Harry Stone
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9:38a, 6/6/23
AG
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.
Separately, PGA TOUR Inc. will remain in place as a 501(c)(6) tax exempt organization and retains administrative oversight of events for those assets contributed by the PGA TOUR, including the sanctioning of events, the administration of the competition and rules, as well as all other "inside the ropes" responsibilities, with Jay Monahan as Commissioner and Ed Herlihy as PGA TOUR Policy Board Chairman. PIF's Governor Yasir Al-Rumayyan will join the PGA TOUR Policy Board. The DP World Tour and LIV Golf will retain similar administrative oversight of events on their respective Tours.
The Board of Directors of the new commercial entity will include Al-Rumayyan as Chairman and Monahan as Chief Executive Officer; the new entity's Board will also include an Executive Committee comprising Al-Rumayyan, Monahan, Herlihy and PGA TOUR Policy Board member Jimmy Dunne. The full Board will be announced at a later date, and it is anticipated that all three founding members will have representation.
Keith Pelley, Chief Executive of the DP World Tour, said "This is a momentous day. We are delighted to be able to not only reignite our relationship with PIF, but also to have the opportunity to build on our current Strategic Alliance partnership with the PGA TOUR. Together we will be stronger than ever and well positioned to continue to bring the game to all corners of the globe. To partner in this new entity and influence the growth of the game for all our DP World Tour members is energizing and exciting."
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beerad12man
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In reply to Bunk Moreland • 9:39a, 6/6/23
AG
Bunk Moreland said:
Great news for golf fans!
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watty
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In reply to jonj101 • 9:41a, 6/6/23
AG
jonj101 said:
Maybe this is why Rory has been down lately, and why Phil has been on a vocal streak.
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MarathonAg12
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In reply to Harry Stone • 9:41a, 6/6/23
Tax Exempt Organization

Jesus…
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gwellis
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9:43a, 6/6/23
gravy97
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9:43a, 6/6/23
AG
Said one PGA Tour player reached by ESPN on Tuesday, "No f---ing way."
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JCA1
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9:47a, 6/6/23
AG
Just crazy. Apparently the players had no idea.

But we're getting all of the best players back together again, which is undoubtedly the best and most important thing for golf fans.

I'm wondering if LIV is even going to exist going forward? The press release they read on the radio made it sound like PIF was financially backing the PGA and DP in a for-profit enterprise. Perhaps the Tour saw this as a way to get rid of LIV and the Saudis saw it as a way to go from hemorrhaging money to making money?
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Harry Stone
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9:47a, 6/6/23
AG
The title of every article should read, "In a not so stunning development, money once again trumps human rights, making money undefeated against every opponent it's faced."
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oragator
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In reply to Harry Stone • 9:48a, 6/6/23
If I read it right, it's going to function kinda like the US and European tours do in combo today.
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CoppellAg93
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In reply to Based Hiker • 9:49a, 6/6/23
AG
CanyonLakeAgbu said:
If this is true, then do Phil and all of the trailblazers get to keep those huge contracts?

This is surprising. I cannot wait to hear al of the backtracking now.

The contracts is my biggest question. They were needed to lure the players away from the PGA Tour. Now they're back playing together (as of next year it sounds like), so what is that money for?
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Keeper of The Spirits
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9:49a, 6/6/23
AG
I bet they found some interesting stuff in Discovery
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Duckhook
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9:51a, 6/6/23
AG
Live look at Chamblee

[url=https://ibb.co/nLx7rDS][/url]
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wangus12
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9:51a, 6/6/23
AG
Saudis are gonna own all the sports leagues in the world by 2035
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Hub `93
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9:51a, 6/6/23
AG
Get your syrup ready for all the waffling from people who decried the Saudis (and ignored the Chinese, etc.).
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EliteElectric
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In reply to Keeper of The Spirits • 9:52a, 6/6/23
Keeper of The Spirits said:
I bet they found some interesting stuff in Discovery
My thoughts as well...... all sides including DP suddenly and 100% change their tunes?

I bet there was about to be collusion and tortious interference evidence everywhere
www.elitellp.net/

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MarathonAg12
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9:55a, 6/6/23
ChemAg15
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In reply to Duckhook • 9:55a, 6/6/23
AG
Duckhook said:
As we speak, Chamblee is sharpening his sword in preparation for committing hari-kari live on-air.


Do you have a link to the live stream?
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