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Mergers

Mergers

Jensen is showing some interest, and we are now playing some golf. My man is a beginner, but he is in love. We have been over to Whitey Deere a few times, and we plan to go on a summer trip. I hope to take him to all of the area’s beautiful tracks. Maybe do a short write-up or something. Pending my lovely editor’s approval, of course. Belles Springs. Clinton. Williamsport. Tioga and Corey Creek. Maybe a few others. Who knows?

Details are now emerging. The PGA TOUR, Europe’s DP World Tour, and the Saudi-backed LIV Tour have agreed to create a new for-profit subsidiary. All three will be under one umbrella. The new entity will manage the assets, while the PGA TOUR will manage the competitions. It is still unclear how this will all work out and what it means for the future of professional golf. The past two seasons were filled with division and drama. This is an unprecedented attempt to unify the sport.

Since its launch in 2022, the LIV has changed the landscape. The new and controversial concept allowed players to compete for much more money by playing in fewer tournaments. The Saudi-backed LIV Tour pledged $250 million in prizes that first year. It was based more on appearance than performance. It was a no-brainer to some of the world’s very best. Phil Mickelson, Dustin Johnson, Brooks Koepka, and Bryson DeChambeau agreed and were ridiculously rewarded.

The PGA TOUR and European DP World Tour have been reeling. They revamped their schedules and tried to keep their players happy. Easier said than done. More folks left for the LIV. Europe’s biggest names — Sergio Garcia, Ian Poulter, and Lee Westwood did too. The PGA TOUR then banned the players who left. Saying they were no longer eligible to play. Things got ugly. Lawyers got involved. Antitrust lawsuits were being filed. It was a mess.

Rory McIlroy became the player’s voice for the PGA TOUR. He was very harsh and outspoken towards those who joined the LIV TOUR. Rory felt they betrayed and ripped apart the traditions of the game. Tiger Woods was also critical and believed these players turned their backs on what had allowed them to where they were. Both McIlroy and Woods declined hundreds of millions to join LIV.

The tentative merger was signed by PGA TOUR Commissioner Jay Monahan, DP World Tour CEO Keith Pelley, and LIV’s Yasir al-Runmayyan. The agreement is quite vague and offers very few specifics. It would put an end to all litigation between the three tours. Interesting.

“There is much work to do to get us from a framework agreement to a definitive agreement,” Monohan explained in a memo to the PGA TOUR. “Management, with the input from our Player Directors, has entered a new phase of negotiations to determine if the TOUR can reach an agreement that is in the best interests of our fans, sponsors, partners, and the game overall.”

News of the deal has turned some major heads. A Senate hearing is scheduled on July 11, and representatives from all sides were asked to attend. Not good. I love it when the government gets involved. Perhaps they will take out some bunkers and pay off their debts. Ouch.

Who knows what will happen? Overall, I think the merger is good. But we have a long way to go, folks. I feel bad for those who turned down the money and stayed. Will those who left have to give some back? Perhaps they can buy my son a membership at our local course. Cheers.