re: Martin Slumbers head of R&A is not a LIV fan

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quote:Also, as a bit of an aside, I have worked with Middle Eastern sovereign wealth funds as an LP in alternative assets. They absolutely, 1000% will expect an economic return at some point (probably 5 - 7 years like most PE funds). That seems to be a consistent misunderstanding amongst both pro- and anti-LIV people: that they are an irrational actor willing to burn money purely to sportswash. Reputation laundering is a component, but they absolutely adhere to an internal IRR. You don’t grow the PIF like they do without being a disciplined investor. I agree, they aren't going to let it be a sieve, but I don't know that they're looking to make a huge profit. But if it doesn't get any kind of real revenue it will go away eventually

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Not to cross over threads and boards, but what I saw from someone (lsufb1912, maybe?) on the MSB was just flat out fricking stupid. Of course LIV has to dominate professional golf; the model doesn’t work in the long run if they don’t. There is no co-existing as peer Tours in five years. That’s why LIV is offering nine figures to otherwise shitty and washed up players and why the Tour is trotting out 9/11 victim sob stories and pressing Senators and Congressmen. From a strategic economic perspective, this is winner take all. The loser dies.

If I were an advisor to LIV, and I am not, I would get someone other than Norman to run that operation. He is a liability and will be nothing but a drag going forward. I would also steer clear of Trump courses if you really want to reach the largest audience and not attach an additional weight to an already reputationally struggling upstart, but so far, it’s clear they’ve had a penchant for going after otherwise good clubs in a lot of financial trouble (Pumpkin Ridge, Doral, Bedminster).