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Posted
6 minutes ago, TourSpoon said:

I wonder how the PGAT player's meeting today will go. 

Going to take some big brass ones for Monahan to face the music this afternoon.

Hope lunch agrees with him today. Be a shame to go home sick now. 

Those guys are probably about to shred him.

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Posted (edited)
23 minutes ago, DeadMan said:

The thing that cuts against this is the PGA Tour has a majority of the board of the new entity and a majority of the voting stake. At least according to the press release. So the PIF can invest money, but it may not have the control that it wants. A lot of this will depend on how the actual agreements are drafted, so it's to early to say. It could be that the PIF ends up a sponsor of all these golf entities but the PGA Tour is still controlling everything. It could also end up with the PIF running everything. And even if the PGA Tour maintains control, that might change with further PIF investments. 

Correct, the PGA Tour is still effectively running and operating the PGA Tour (as well as now the Euro Tour and whatever may remain of the LIV) in terms of commercial and business decisions. They don't, however, get the profit that results from these decisions except what is allocated based on financial stake in the newly merged company (depending on how exactly the agreements are written up, of course). Their operating expenses will obviously be covered by the Board as they're an operating expense for the merged entity itself, but anything beyond that is a complete unknown right now.

The point of the investments and dilutions is that the PIF gets to have the PGA Tour run their company for them, while the PIF collects the profits as the largest financial stakeholder. It's not a disadvantage, at least financially speaking, to have the most successful of the 3 merged entities also be the ones responsible for the business and commercial decisions of the new conglomerate. The board also has a fiduciary duty to place the interests of the shareholders above their own interests, by which I mean they are legally obligated to take actions that they reasonably believe and can defend will have the best financial impact for the conglomerate. The PIF itself also has an obligation to grow their holdings, and having a majority financial stake in essentially every relevant professional golf tour on the planet is a massive win for them regardless of if they dictate the exact day-to-day business operations of the tours. It simply makes far more sense for them to outsource the golf-specific commercial and business decisions to the people who have already made a very, very successful product rather than trying to reinvent the wheel.

The PIF doesn't care about micromanaging the day to day operation of the tours, they never have. They don't need or even want the Tour to come out and say anything about Saudi Arabia directly, they just want eyeballs on their product with their brands on display at the highest level of sports. In this case they got to acquire two profitable professional golf tours on incredibly flexible terms, increasing their financial stake whenever they want with no risk of their own stake ever being diluted, and they don't even have to find a qualified team to manage it because the most successful of the tours they acquired will be doing the commercial management for them.

Edited by Pretzel
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Posted
6 minutes ago, mcanadiens said:

Those guys are probably about to shred him.

They must be LIVid. A lot of them held out and could have taken the cash only to watch the Tour cash in. Too bad its not live on air. It should prove to be entertaining. 

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Posted
3 minutes ago, TourSpoon said:

They must be LIVid. A lot of them held out and could have taken the cash only to watch the Tour cash in. Too bad its not live on air. It should prove to be entertaining. 

If Rory is not rolling into that meeting with a pillowcase full of golf balls, then he is indeed worthy of sainthood!
 

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Posted

Dan Rapaport's article on this. 

GettyImages-1404487146.75266504.jpeg?cro

Michael Reaves. Getty Images.The players found out the same way you and I did: on Twitter. Joel Dahmen was going through his morning routine when he got a text from a buddy. He couldn't believe it wa...

 

Constantine

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Posted

Hugely disappointing, but not surprising. Money talks and SA got a lot of dirty (bloody) laundry to wash.

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Posted

I read, I re-read, I checked alternate sources, this was so unexpected I simply felt it had to be some kind of "April Fools" joke even though it is June.   There will be a lot of issues rebuilding trust and comradery....it may be impossible.  Just this week Jack said LIV Players are not part of the game.  Now he may need to shake their hand behind #18 next year.  

jack-nicklaus-on-liv-golfers-i-dont-real

The other guys made a choice to go where they went. We don’t really talk about it.

 

 

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Posted

Here's a question....Can Phil keep his mouth shut without saying "I win" or "Look what I did for you guys" or something like that?  From a PR Standpoint I think the best thing for Phil to do is sit back and listen and say nothing, but he has struggled with that in past.

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Stuart M.
 

I am a "SCRATCH GOLFER".  I hit ball, Ball hits Tree, I scratch my head. 😜

Driver: Ping G410 Plus 10.5* +1* / 3 Hybrid: Cleveland HIBORE XLS / 4,5 & 6 Hybrids: Mizuno JP FLI-HI / Irons/Wedges 7-8-9-P-G: Mizuno JPX800 HD / Sand Wedge: Mizuno JPX 800 / Lob Wedge: Cleveland CBX 60* / Putter: Odyssey White Hot OG 7S / Balls: Srixon Soft / Beer: Labatt Blue (or anything nice & cold) 

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Posted
3 minutes ago, StuM said:

  Just this week Jack said LIV Players are not part of the game.  Now he may need to shake their hand behind #18 next year.  

jack-nicklaus-on-liv-golfers-i-dont-real

The other guys made a choice to go where they went. We don’t really talk about it.

 

 

So now those loyal to the PGA will have to suck it up and shake hands with those who  took blood money to play less (for family reasons) and yet want to grow the game.

I agree with the article, if LIV guys want to come back, they got to pay a hefty fine, which can be distributed to the players!

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Irons- Callaway Big Berthas 5i - GW Wedges- Titles Volkey  Putter- Odyssey protype #9
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Posted
55 minutes ago, DeadMan said:

That said, the DOJ may get more involved, because this looks like more of a monopoly now than it was a year ago.

It looks like a Cartel type of system. Where these guys are banding together to unify a market to eliminate competition. 

 

 

Matt Dougherty, P.E.
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Posted

Damn.....

 

 

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Driver-Taylormade 10.5 Woods- Taylomade 3 wood, taylormade 4 Hybrid
Irons- Callaway Big Berthas 5i - GW Wedges- Titles Volkey  Putter- Odyssey protype #9
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Posted

You can compare the two statements by Jay, 10 months apart. 

 

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Matt Dougherty, P.E.
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What's in My Bag
Driver; :pxg: 0311 Gen 5,  3-Wood: 
:titleist: 917h3 ,  Hybrid:  :titleist: 915 2-Hybrid,  Irons: Sub 70 TAIII Fordged
Wedges: :edel: (52, 56, 60),  Putter: :edel:,  Ball: :snell: MTB,  Shoe: :true_linkswear:,  Rangfinder: :leupold:
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Posted

Maybe this will end the debate over a fifth major. “Saudi Heroes”, to be played on a Trump course in Saudi Arabia.

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Posted
7 minutes ago, saevel25 said:

You can compare the two statements by Jay, 10 months apart. 

 

It is truly jaw-dropping. 

Fella was also quoted this way about a year ago:

"And I would ask any player that has left or any player that would consider leaving, have you ever had to apologize for being a member of the PGA Tour?"

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Posted

 

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-- Daniel

In my bag: :callaway: Paradym :callaway: Epic Flash 3.5W (16 degrees)

:callaway: Rogue Pro 3-PW :edel: SMS Wedges - V-Grind (48, 54, 58):edel: Putter

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Posted

Another question is, did Jay Monahan have authorization or the power to make a unilateral decision? Could this all fall apart? 

Matt Dougherty, P.E.
 fasdfa dfdsaf 

What's in My Bag
Driver; :pxg: 0311 Gen 5,  3-Wood: 
:titleist: 917h3 ,  Hybrid:  :titleist: 915 2-Hybrid,  Irons: Sub 70 TAIII Fordged
Wedges: :edel: (52, 56, 60),  Putter: :edel:,  Ball: :snell: MTB,  Shoe: :true_linkswear:,  Rangfinder: :leupold:
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