LIV Golf (Saudi PIF), "Mergers," and More

[snapfade]

1 hour ago, Vinsk said:

I’m sure Brooks thinks this is just waaaay cool! FFS. Just embarrassing.

Could you imagine if something like that broke out at Augusta.

[Vinsk]

6 hours ago, snapfade said:

Could you imagine if something like that broke out at Augusta.

Lol, yeah. I can see that some changes are needed with professional golf, maybe. But LIV is just missing the mark and heading in the wrong direction imo.

[Zeph]

Aha, so that’s what golf was missing. Flash mobs. 🥳

[snapfade]

There will be one less LIV player at the Open Championship, in case you missed it, Sergio failed to make it through qualifying. In other news.....

[Vinsk]

1 hour ago, snapfade said:

There will be one less LIV player at the Open Championship, in case you missed it, Sergio failed to make it through qualifying. In other news.....

I’m sure the grounds keepers are happy.😁

[guitarget]

https://www.golfchannel.com/news/report-randall-stephenson-resigns-pga-tour-policy-board-due-concerns-over-pif-deal

[StuM]

Among other things they were considering having Tiger play in 10 LIV tournaments a year?  Like that was ever going to happen.  If Tiger were able to play in 10 events in a season they would be the majors and other high-level tournaments, not mickey-mouse LIV tournaments.

 

Ousting Norman, giving Woods and McIlroy LIV teams were discussed with PGA Tour, documents show

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The negotiators of a business deal between the PGA Tour and the Saudi funders of LIV Golf discussed ousting LIV chief executive Greg Norman and giving Tiger Woods and Rory McIlroy their own LIV teams, according to...

 

 

[snapfade]

Watching the hearings live, kind of just a snooze fest until Rand Paul went at them.  I kind of agree with him that its not the government's business to be involved in golf. Went on about how they didn't hold hearings on sending SA weapons, Yemen and so forth but we need to have one now for golf. Between the lines I think he was saying that the PGA shouldn't be doing business with SA but it's your problem not ours.  Senator Marshall is on saying that his constituents are more worried about inflation not golf. If there is ever a tap dancing competition Ron Price needs to get in on it. 

Update: Blumenthal nailed it. PGAT doesn't need PIF.  Price folded to the money. 

Edited July 11, 2023 by snapfade

[Big C]

14 minutes ago, snapfade said:

Watching the hearings live, kind of just a snooze fest until Rand Paul went at them.  I kind of agree with him that its not the government's business to be involved in golf. Went on about how they didn't hold hearings on sending SA weapons, Yemen and so forth but we need to have one now for golf. Between the lines I think he was saying that the PGA shouldn't be doing business with SA but it's your problem not ours. 

I agree with Rand Paul.

15 minutes ago, snapfade said:

Update: Blumenthal nailed it. PGAT doesn't need PIF.  Price folded to the money. 

What specifically did he say? Based on that summation, I would disagree with you. The Tour made financial commitments to their players that they appear unable to deliver on without a significant funding source. It seems no one but the PIF was willing to step up and deliver those funds. 

[snapfade]

2 hours ago, Big C said:

I agree with Rand Paul.

What specifically did he say? Based on that summation, I would disagree with you. The Tour made financial commitments to their players that they appear unable to deliver on without a significant funding source. It seems no one but the PIF was willing to step up and deliver those funds. 

Go to the 1:36:00 mark and you can listen to Blumenthal making his argument for the PGAT not needing the money.

[Big C]

23 minutes ago, snapfade said:

Go to the 1:36:00 mark and you can listen to Blumenthal making his argument for the PGAT not needing the money.

Thanks for linking. Blumenthal seems to believe that by "insisting" on similar terms from other potential partners, the Tour could have secured a comparable deal from another entity without having to partner with the PIF.

Without knowing details about the conversations the Tour had with other prospective partners, it's impossible to say for sure - but given what we know about the current Tour sponsors balking at having to pony up more, it seems unlikely that there were any comparable offers available to be had. 

 

[StuM]

Can someone help me understand something regarding "Teams".  I've really struggle with the LIV Team concept.  It was reported that Rory & Tiger were potentially going to be "Given Teams".  My question is, are the teams "Owned" by the captains and they profit similar to owning a MLB or NFL Team?  What would the value to Rory or Tiger be if they were "Given a team"?

 

[snapfade]

Let's keep stirring the pot. Lets remove the non-solicitation portion of the agreement. That was Jimmy Dunne's whole worry was LIV recruitment would hurt the PGAT because of the limitless money they have. 

thestreet.com

 

[iacas]

Tiger is joining the policy board:

Tiger Woods added to PGA Tour Policy Board as players seek new governance and transparency measures | Golf News and Tour Information | GolfDigest.com

[Elmer]

Was not sure where this belonged.
But since he is a LIV player, and they just had a flash mob & Mickelson bet with bookies with ties to the Mob, this seemed like an appropriate place. 

Phil Mickelson wagered over $1 billion, tried to bet on Ryder Cup, book alleges - ESPN

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Phil Mickelson bet more than $1 billion on football, basketball and baseball over the past three decades and even allegedly attempted to place a $400,000 wager on Team USA in the 2012 Ryder Cup in which he...

 

[boogielicious]

4 hours ago, Elmer said:

Was not sure where this belonged.
But since he is a LIV player, and they just had a flash mob & Mickelson bet with bookies with ties to the Mob, this seemed like an appropriate place. 

Phil Mickelson wagered over $1 billion, tried to bet on Ryder Cup, book alleges - ESPN

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Phil Mickelson bet more than $1 billion on football, basketball and baseball over the past three decades and even allegedly attempted to place a $400,000 wager on Team USA in the 2012 Ryder Cup in which he...

 

Kind of sad if it’s true.

[snapfade]

16 hours ago, Elmer said:

Was not sure where this belonged.
But since he is a LIV player, and they just had a flash mob & Mickelson bet with bookies with ties to the Mob, this seemed like an appropriate place. 

Phil Mickelson wagered over $1 billion, tried to bet on Ryder Cup, book alleges - ESPN

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Phil Mickelson bet more than $1 billion on football, basketball and baseball over the past three decades and even allegedly attempted to place a $400,000 wager on Team USA in the 2012 Ryder Cup in which he...

 

Probably friends with Pete Rose.

[iacas]

Now some independent financial money may be coming in to put up a deal that could rival the PIF.

https://www.bloomberg.com/news/articles/2023-09-28/endeavor-fenway-said-exploring-pga-deal-to-rival-saudi-arabia-s

I still remain reluctant to think that the PIF would be easily outbid, but… maybe this will raise the price a bit?