https://www.cnbc.com/2023/06/06/pga-tour-agrees-to-merge-with-saudi-backed-rival-liv-golf.html SHOCKING! This is like the show Succession (in terms of fighting for power on the board and who is the loser with the label CEO)... I think Monahan has gotten screwed in the end. Yes they have majority on the board of this new LLC for profit entity and he is the CEO, but Yasir is the Chairman and has EXCLUSIVE funding opportunities... You'd think he could buy out majority shares as needed. It's a very interesting business/sports industry occurrence. Fascinating.
To add, the merger doesn't have a "Definitive Agreement" yet... so it's still very early and a lot of that will need to be sorted out. The board members of the new co will be calling the shots. I do feel bad for the PGA players because they really had no say in what was happening. They fought hard to preserve the PGA tour model. And now Jay Monahan has lifted the rug out from underneath them. From the start of this thing, I've always thought Monahan was in over his head. He strikes me as a bit of an idiot. I think Norman and Phil have been playing chess while Jay has been playing checkers. You get passed the Saudi money thing (which is a political argument that deserves it's own thread in PoFo ), and it's about golf and what's good for the game. Could be a good thing... and both Yasir and Jay said it in their interview. If they had gotten together a few years ago, it wouldn't have worked, the impact wouldn't have been so big.... since then LIV proved they could put together a product that makes money with investment... they got some of the players to come over and add worth to their product.
I'm still trying to understand how this is going to work? I do know that upwards of 80% of PGA players are NOT happy with this and are pissed at Monahan.
