In an interview, Jimmy Dunne spoke about the way forward for the partnership among the many PGA Tour, DP World Tour and PIF.
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The PGA Tour, DP World Tour and Saudi Arabia’s Public Investment Fund are partnering up, however thus far, particulars are sparse. There has been a lot hypothesis on what this new entity will appear to be, however the public has not been aware of any of the specifics.
However, in an interview with Sports Illustrated, Jimmy Dunne, a member of the PGA Tour coverage board, shared what the way forward for the partnership might appear to be, and the roles of some key executives. Here’s what we all know.
Jay Monahan runs the present
There have been many questions on who holds the ability on this new entity. Is it Jay Monahan and the Tour’s board majority? Is it PIF governor Yassir Al-Rumayyan and his limitless reserves of money? According to Dunne, Monahan would be the man with essentially the most energy. In the SI article, it’s reported that Monahan won’t solely oversee the Tour, but in addition LIV Golf. This (seemingly) makes Monahan essentially the most highly effective man within the skilled recreation, operating not solely the most important tour on the planet, however one in all its largest opponents as nicely.
LIV’s future is murky
This partnership was initially touted as an enormous win for LIV Golf, however the Dunne interview attracts that narrative into query. LIV will play out the rest of the 2023 season, however after that, the league shall be evaluated by Monahan. If he and his workforce like what they see, LIV might return for an additional season, however Monahan has the authority to disband the upstart tour if he sees match.
LIV gamers received’t be welcomed again instantly
If you thought this partnership would imply LIV gamers shall be again on Tour like they by no means left, suppose once more. Monahan and different Tour management will set the phrases for the defectors to return, and the penalties are presumed to be steep. LIV golfers might now have a path again to the Tour, nevertheless it received’t come with out paying a worth.
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The PIF doesn’t personal the Tour
It’s simple to see how this merger might appear to be the Saudis have successfully bought the Tour, however that isn’t the case. According to the phrases of the association, the PIF won’t contribute any cash on to the Tour or its gamers. Instead, they may have “right of first refusal” to be the Tour’s funding accomplice via the brand new entity. If the Tour desires to make any future investments, the PIF could have the fitting to hitch them within the endeavor.
Greg Norman’s future is unsure
When requested concerning the involvement of Greg Norman in the course of the preliminary CNBC announcement Tuesday morning, Al-Rumayyan didn’t precisely give a ringing endorsement of LIV’s present CEO.
“I made a call just before this, and of course, he is a partner with us,” Al-Rumayyan mentioned. “And all the stakeholders that we have with us, they had the call right before this interview.”
Norman informed LIV staff this week that he’s not going anyplace, however with Monahan on the helm of the league now, it’s unsure if Norman will stay part of the corporate.
No cash has been promised (but)
While this deal will undoubtedly see a mass money inflow into the sport, there may be nothing set in stone but. Dunne informed SI that PIF has not promised any investments but, and the Tour has not promised something aside from “right of first refusal” on future investments. It’s simple to think about a world the place the PIF sponsors future Tour occasions, however as of but, nothing is definite.
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