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

[jmanbooyaa]

I just rewatched the 2020(21) Ryder Cup. Hearing the Rory interview after his singles match with all that emotion sums up why the move to LiV is foolish. He says emphatically what a privilege it is to be a part of an American or European team. Great ambassador for the game and PGA tour. I will always route for a player like that to win(maybe not so much during the Cup). Team USA 2023. 

[jmanbooyaa]

As per Espn. Dustin Johnson will be ending his 15 year sponsorship with Adidas. 

[iacas]

LIV Golf news: Dustin Johnson, Adidas end 15-year relationship

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“We wish Dustin nothing but success moving forward.”

Adidas parts ways with DJ and Sergio.

[chspeed]

Was watching Golf Central tonight, and saw a piece in which one newscaster was pushing another regarding the difference between LIV golf tour and the Saudi's involvement on the LPGA tour through Aramco. Seems like Aramco sponsors one tournaments and "elevates" others, increasing their purse.

The second newscaster was pointing out that it's different because LIV golf is almost completely owned and controlled by the Saudis, while they're only sponsoring/elevating some events on the LPGA tour.

This is a classic slippery slope, or course. If you're critically opposed to sportswashing, why is one acceptable and the other isn't? That said, I'm OK with solving slippery slopes with schelling fences, but the question is, where do you put it? Is it a controlling stake? Is it any involvement?

 

In other LIV news:

LIV Golf members allowed to play in the Open, the R&A has announced

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Notable LIV golfers exempt include Cam Smith, Phil Mickelson, Dustin Johnson, Bryson DeChambeau and Brooks Koepka.

 

Edited February 22, 2023 by chspeed

[iacas]

1 hour ago, chspeed said:

This is a classic slippery slope, or course. If you're critically opposed to sportswashing, why is one acceptable and the other isn't? That said, I'm OK with solving slippery slopes with schelling fences, but the question is, where do you put it? Is it a controlling stake? Is it any involvement?

It is a little different, for not only the reasons pointed out, but the fact that they're elevating women's events, while one of their many human rights issues is poor treatment of women.

[Elmer]

 

 

PGA Tour competitive drama exposes the folly of LIV Golf - The Washington Post

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Recent PGA Tour competitive drama exposes the folly of upstart rival tour before its new season opens.

 

[boogielicious]

From the article above for those that don’t subscribe.

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The airborne toxic event called LIV golf is slowly dissipating, and soon all that will be left is the mere faint scent of its portable toilets. The failures are piling up so fast that the PGA Tour may not even need lawyers to beat LIV. It’s going to beat itself with its own sour-smelling hustle, its jinks-on-the links-for-clinks gutter golf.

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The news value of its debut last year, championed with patent unease by Phil Mickelson, has long faded. What’s left is just the militant fruitcakery of Greg Norman, whose emanations from his empty luminescent head never quite form into actual substance.

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Golf, but louder,” is one of LIV’s slogans, but all that apparently refers to is Ian Poulter’s pants by Pixar. Poulter is at least a likable star, more audience-friendly than laconic burnout cases such as Brooks Koepka, or that aging inveterate scrounger Mickelson, who apparently would take checks from the slaughter of dolphins to get whole.

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From the outset, LIV was a home for buttercup-bellied moral cowards clutching at cash from a murderous regime, but it quickly has evolved into a refuge for guys who have lost their taste for competition. Who cares who “wins” more money among such a scrabbling bunch? Only the torrent of blood-spattered Saudi coin made Norman’s follies viable in the first place, and now the best young guys are turning down the money. LIV’s incursion is failing, and eventually all that will be left is the unpleasant smell of its corruptions.

 

[woodzie264]

4 hours ago, boogielicious said:

From the article above for those that don’t subscribe.

 

Thanks for posting since I couldn’t read it. Sounds about right - they can’t die off fast enough. 

[jmanbooyaa]

If Liv players are allowed to accumulate points such as in the majors and actually automatically qualify for the Ryder Cup it will be a real shit show and no longer be about country and team. I do not like the PGA of Americas stance on this. 

[boogielicious]

LIV Golf gets another setback in court fight with PGA Tour - The Boston Globe

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It is the second setback in the last week for Saudi-funded LIV Golf, which has accused the PGA Tour of monopolistic actions.

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A federal judge has ruled the PGA Tour can add Saudi Arabia’s sovereign wealth fund and its governor, Yasir al-Rumayyan, as defendants in its countersuit in the ongoing legal fight with LIV Golf.

The ruling Tuesday by US District Judge Beth Labson Freeman was the second setback in the last week for Saudi-funded LIV Golf, which has accused the PGA Tour of monopolistic actions as the rival league gets started.

So much winning!

[DeadMan]

A lot of the stuff that's happening in the litigation right now will just delay it further. This stuff is likely to be appealed, which takes time. And the longer this takes, the longer this preserves the status quo, which benefits the PGA Tour. 

[Elmer]

18 hours ago, boogielicious said:

militant fruitcakery

This is a great name for a punk band!

[jmanbooyaa]

Does this weekends viewership on the WB matter? 

[DeadMan]

This is a fascinating article about the LIV teams now being for sale.

si.com

There are some details in there that blow my mind. The golfers themselves have to sell the teams, but they only get 1/4 of the sale price, while LIV gets the other 3/4. Are we really expecting these golfers to have any idea of how to do that?

And what on earth is the market for these teams right now? Who is going to buy a team for this tour? There's no way there's anything approaching value here. Legitimately, is this just a money laundering scheme?

[mchepp]

17 minutes ago, DeadMan said:

And what on earth is the market for these teams right now? Who is going to buy a team for this tour? There's no way there's anything approaching value here. Legitimately, is this just a money laundering scheme?

While there has been a great deal of talk about Saudi money, the reality is the money is from an investment firm. Sure all the money comes from the government, but their job is to make money with it. At some point they are going to have to show how they are going to make money. Selling "franchises" is certainly a great way to make money. Each sale they'll get a cut of the sale.

As to the market, I no longer have limits to understand what rich people will do with their money. Maybe the idea of owning "Phil's Team" has real value to someone. Maybe companies like Titleist want to own a team for advertising purposes. Or some Crypto company (who really wants an investment from PIF) can get them to wear their logo like European soccer teams. All sorts of ideas. 

[GolfLug]

1 hour ago, mchepp said:

As to the market, I no longer have limits to understand what rich people will do with their money. 

I know the rich like to hang out where the other rich hang out and they pay good money to do so. Maybe they will find a way to harness that.

[iacas]

6 hours ago, DeadMan said:

There are some details in there that blow my mind. The golfers themselves have to sell the teams, but they only get 1/4 of the sale price, while LIV gets the other 3/4. Are we really expecting these golfers to have any idea of how to do that?

And what on earth is the market for these teams right now? Who is going to buy a team for this tour? There's no way there's anything approaching value here. Legitimately, is this just a money laundering scheme?

Let's pool some money here on TST and buy a team. I can think of a few good names…

[DeadMan]

6 hours ago, mchepp said:

Or some Crypto company (who really wants an investment from PIF) can get them to wear their logo like European soccer teams. All sorts of ideas. 

I didn’t even think about companies that might want to get in PIF’s good graces. That might be a way to do it. Of course, if you have $100 million to spend on doing that, how important is PIF money to you in the first place?

Slightly OT, but a lot of the companies that sponsor European soccer teams are shady. Some examples:

Manchester City sign deal with mysterious cryptocurrency start-up | Manchester City | The Guardian

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Online sleuths are scouring the internet to find the digital footprint of a company named 3Key who...