PGA Tour Gets Deal, But Not With LIV
In the ever changing world of Professional golf, there has been another massive change as of yesterday. The PGA Tour got the deal they were look for and it wasn’t with the LIV League. Let me break down the deal between the PGA Tour and Strategic Sports Group.
January 31, 2024 will be a day to remember as a golf fan. The PGA Tour signed a deal with the American based Strategic Sports Group. With this deal, the PGA Tour will now be known as PGA Tour Enterprises, making them a for-profit company. The deal is massive and will allow the PGA Tour to compete with LIV when it comes to money. It also allows the PGA Tour to stay the way it is, at least for now. Honestly, there is a lot to this deal so let me lay out the main points for you.
MAIN POINTS TO THE DEAL:
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3 Billon dollar investment by SSG
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Players become owners of the league. 1.5 Billion will end up going to the players in the form of equity. This is a way to reward the players who didn’t jump ship to LIV.
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Player payouts will happen depending our player status, ranking and past performances. Top players will get more money.
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In a shocking update, Jay Monahan will stay on as the CEO of the PGA Tour
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This deal does not include LIV Golf. Any move to bring them on would take a review of the PIF
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The DP World Tour was not mentioned in this deal
Those are the main points of what happened on Wednesday morning. The two biggest parts of this deal to me are, players will be paid to play on the PGA Tour and not just rely on finishing high and winning tournaments for money.
The second, I truly cannot believe Jay Monahan has stayed on as CEO. As the President of the PGA Tour, Jay has not handled the emergence of LIV very well and at times I feel has pushed his players away. Truly, a magic trick by that man.
Another massive point to this deal is the PIF is not part of it. Most thought that the PGA Tour and LIV would come to some agreement and join forces. As of yesterday, that looks like it won’t happen, at least for now. What this investment from SSG does, is allow the PGA Tour to function like it always has. It allows the tour to be less reliant on sponsorship money, as now all the purses will be fully funded by the deal.
As far as a future deal with LIV and the PIF, Jordan Spieth spoke on it yesterday. Why does the PGA Tour still need a PIF deal? Jordan Spieth says they don’t.
“I think the short answer is we don’t have to, and the long answer is, the positive there is unification … but I’m not sure if or how or when it would get done.”
Doesn’t sound like a deal is close. pic.twitter.com/VXVGkAyAD9
Why does the PGA Tour still need a PIF deal? Jordan Spieth says they don’t.
— Dylan Dethier (@dylan_dethier) January 31, 2024
“I think the short answer is we don’t have to, and the long answer is, the positive there is unification … but I’m not sure if or how or when it would get done.”
Doesn’t sound like a deal is close. pic.twitter.com/VXVGkAyAD9
So what comes next?
It’s safe to say that a deal with LIV will not happen anytime soon. Both LIV and the PGA will continue to operate like they have been. The only difference is now, the PGA has the money to take care of their players and hopefully stop more from joining LIV.
Personally, I think this is a great step in the right direction for the PGA Tour. Teaming up with the SSG now puts a vested interest in making the game more enjoyable for fans. The way I see it, the members of SSG are going to protect their investment. What I mean by that is, now that their money is involved, they are going to want to best product possible. Selfishly, I hope this will mean a better viewing experience for the fans. Less commercials and more golf shots.
That is one thing the PGA lacks in, where LIV strides. The LIV product to me is much better to watch on T.V. You have fewer if any commercials, you get to see more golf shots and you have better access to players during the round. Hopefully the members of the SSG will look at this and make some changes.
FINAL RECAP:
The PGA Tour has been given 3 billion to try and compete with LIV. Some of the money will go to the players and all purses will be fully funded. Nothing in the deal involves LIV or the PIF, any deal with them would be subject to review. In hopes, the PGA Tours new deal will help stop the bleeding when it comes to players leaving for the new league. Overall I think it is a step in the right direction. Although, the two sides are still split, this makes it easier for a future partnership.
I talk about all of this and get deeper into it on “The Ball Washer Pod”. Make sure you download, subscribe, review and share! New episodes every week.
