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Started By
Message
re: Liv and PGA to merge
Posted on 6/6/23 at 9:57 am to RedHawk
Posted on 6/6/23 at 9:57 am to RedHawk
quote:
But for some reason people believe LIV won here
A group of people who do not care one iota about money started a golf league a year ago trying to disrupt the monopoly the PGA had. A year later they have merged with the PGA and their head guy is the chairman of the new company. Do this in ANY industry and it is a HUGE win.
The players left for one year. Got big pay days and now have a path to go back to the tour. That is a HUGE win.
Now what were you saying about money that the saudis won’t lose a single second of sleep over?
1
Posted on 6/6/23 at 9:57 am to ell_13
quote:I don’t know yet.
So you agree the LIV players won bigly?
1. Will they still be required to play out the remaining terms of their contract before this “merger” or new terms take place?
Or
2. Do they immediately get out of the original terms and qualify for tour events again and OWGR points etc?
Those are two huge differences. If it’s 1, it’s kinda a moot point for most of the liv players. If it’s 2, they are HUGE winners
Posted on 6/6/23 at 9:58 am to lsupride87
quote:
You think they still see all the money if the tournaments and structure agreed in the 5 year terms change materially?
Would love to see the contracts and how much they got upfront. My bet is they are making off like bandits and the Rory's of the world are sitting at home feeling screwed by all of this.
Posted on 6/6/23 at 9:58 am to RedHawk
quote:
But for some reason people believe LIV won here.
quote:
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.
quote:
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.
You think maybe you aren’t looking at this objectively?
This post was edited on 6/6/23 at 10:01 am
Posted on 6/6/23 at 9:59 am to ell_13
I think some of the LIV upfront money was overstated, just like the NIL was.
Posted on 6/6/23 at 10:00 am to BBONDS25
quote:
A group of people who do not care one iota about money started a golf league a year ago trying to disrupt the monopoly the PGA had. A year later they have merged with the PGA and their head guy is the chairman of the new company. Do this in ANY industry and it is a HUGE win.
The players left for one year. Got big pay days and now have a path to go back to the tour. That is a HUGE win.
Only way this can ever happen is that you have to way over pay to make it happen and that is exactly what they did. I don't think that is very impressive at all. They just have way deeper pockets than everybody else. Even with that huge advantage, they still couldn't really make their league work.
Posted on 6/6/23 at 10:00 am to WDE24
quote:Will we agree this is a big win for the tour? Or no?
The PGA TOUR will appoint a majority of the Board and hold a majority voting interest in the combined entity.
Posted on 6/6/23 at 10:01 am to RedHawk
quote:
I'm wondering who caved?
Me thinks the PGA Tour thought they were going to lose the lawsuits and needed an out...
Posted on 6/6/23 at 10:01 am to deathvalleytiger10
quote:Getting billions in funding and majority control of the board seems like a really good “out”
Me thinks the PGA Tour thought they were going to lose the lawsuits and needed an out...
Posted on 6/6/23 at 10:02 am to lsupride87
quote:There is a letter out to the players. They finish this season then can go back to a merged PGA which will likely include a combination of the events where they can choose what to play.
1. Will they still be required to play out the remaining terms of their contract before this “merger” or new terms take place?
quote:Even if it’s not immediate they win. Period.
2. Do they immediately get out of the original terms and qualify for tour events again and OWGR points etc?
quote:Not really. They already got a ton of money and they get back into the PGA and all it’s perks and, now, more money too. It’s hilarious that you think they don’t come out ahead in certain situations.
Those are two huge differences. If it’s 1, it’s kinda a moot point for most of the liv players. If it’s 2, they are HUGE winners
Posted on 6/6/23 at 10:03 am to lsupride87
quote:You could argue that. Before this deal the PGA had a virtual monopoly and now the PIF guy is chairman of the board and the PGA will get to appoint a majority. Sounds like they compromised and LIV got the head seat at a the table where previously the PGA had the head and every other seat.
Will we agree this is a big win for the tour? Or no?
This post was edited on 6/6/23 at 10:05 am
Posted on 6/6/23 at 10:04 am to ell_13
Wasn’t the upfront LIV money against prize money? So if you signed for 100m you only start getting prize money after you earned 100m on LIV? Will be interesting to see how that is negotiated with LIV only completing two seasons.
Posted on 6/6/23 at 10:04 am to lsupride87
quote:majority board control doesn’t mean Jack when one of the minority members/owners can buy any one of them out at any time.
Getting billions in funding and majority control of the board seems like a really good “out”
Posted on 6/6/23 at 10:04 am to WDE24
quote:
Dan Rapaport
@Daniel_Rapaport
There’s gonna a tonnnnn of angry PGA Tour players who turned down hundreds of millions of dollars. Do you compensate those guys? What happens with the designated events next year?
This is a player-run organization and they didn’t tell them shite.
Quote Tweet
Dan Rapaport
@Daniel_Rapaport
·
12m
PGA Tour didn’t communicate this to players at all. They found out same time we did.
“Shocked and confused.”
“Disgusted. They didn’t tell us anything.”
Posted on 6/6/23 at 10:04 am to juice4lsu
Hahahahahaahah
Posted on 6/6/23 at 10:04 am to RedHawk
quote:
The PGA weathered the storm and was stronger than ever.
So LIV was a storm? They weren't even a drop in the bucket no name disappear in a few years tour to most. Now they were a legitimate storm that was a threat to the PGA, got it.
quote:
I don't see many reasons why the PGA would jump at a merge at this point unless it was a phenomenal deal for the PGA.
Yes, a phenomenal deal with the organization that JM and players bashed as a terrible tour and bad for golf. Now they're business partners. LIV players were getting paid with "Blood money", now the Tour is backed with blood money. How could that possibly not make the PGA Tour look stupid. Blood money is now backing Saudi has an unlimited flow of money, Saudi losing money had absolutely nothing to do with it. LIV leveraged LIV players being legit contenders in majors and that made the Tour look bad. JM is now praising Saudi, you think he would have done that if the PGA was the one holding strong? Every person that's been on the golf channel the past 30 minutes has been talking about it being a win for LIV. Somehow tigerdroppings can't realize that.
Hell, Greg Norman should even feel vindicated. In the 90's Norman pushed for something like this, a worldwide tour, and Arnold Palmer shut it down. He kept pushing for it and got hated on more than any person involved with LIV. He was bashed and called an idiot 10x as worse/more than Phil was, and Phil got the worst of it of the players. Norman was labeled a bozo by every one on here that hated LIV. Now he's the one that actually got what he wanted and pushed for all these years.
This post was edited on 6/6/23 at 10:07 am
Posted on 6/6/23 at 10:04 am to lsupride87
Plan worked. Saudis simply wanted a cut on PGA profits. Were never going to get that with Greg Norman. Now they will invest in PGA and begin to actually try and recoup money paid to the LIV golfers.
Posted on 6/6/23 at 10:04 am to AlxTgr
No. Way. Pride said those players don’t matter.
Posted on 6/6/23 at 10:05 am to WDE24
I thought Rich Lerner was going to cry on live TV ....so sad for Golf Channel guys!
Posted on 6/6/23 at 10:06 am to AlxTgr
Jay is like Don Corleaone. Dude got more bag money than anyone.
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