Business

PGA Tour chief accuses breakaway LIV of trying ‘to buy game of golf’

The head of the U.S. PGA Tour has blown up a Saudi-funded competing golf series in an attempt to “buy the golf game” as a growing number of circle members retire to the new project led by former player Greg Norman, which has escalated the battle for the sport’s future.

Jay Monahan, in charge of the PGA Tour, said it LIV GOLFOwned by a majority of Saudi Arabia’s sovereign wealth fund worth $ 620 billion, “was not worried about the return on investment or the real growth of the game.”

“I’m not innocent,” Monahan said. “Whether it’s an arms race and if the only weapons are dollar bills, the PGA Tour cannot compete with a foreign monarchy that spends billions of dollars trying to buy the game of golf.”

Saudi Arabia’s public investment fund has earmarked at least $ 2 billion to invest in LIV, threatening the status of the PGA Tour as one of the dominant forces in the sport by paying lucrative commissions to pull off some of the game’s big stars, including Phil Mickelson, Dustin Johnson and Bryson Dashambo .

The PGA Column increases its prize money and rewards to golfers. This Has already been suspended More than 17 of her friends who took part in the LIV opening tournament in London two weeks ago. Two of LIV’s future meetings will be held at golf clubs run by former U.S. President Donald Trump.

The London event was the first of eight invitational tournaments, which will offer a total prize pool of $ 250 million.

Critics looked at LIV players enrolled in a PIF-backed competition because of Saudi Arabia’s poor record in human rights, the murder of journalist Jamal Hashouhi in 2018 and its military operations in Yemen.

During the spring, the tour rejected proposals that LIV was gaining some momentum, but still suffered from a steady flow of exits. LIV revealed on Thursday that it has signed former world number one former Brooks Copaca, a defector who stung the PGA Tour because of the four-time winner of the Major and his previous indications of loyalty.

Cofka’s move approval came when Monahan set plans to increase the average prize money offered at eight top events in 2023 to $ 20 million – a total increase to $ 160 million from $ 106 million.

The bigger box office, along with calendar changes and formats, are meant to bolster the appeal of the PGA Tour as it fights to keep players courted by LIV.

“Our members are vying for the opportunity to add their name to the history books, as well as, significant financial benefits, without struggling with any kind of moral ambiguity,” Monahan said.

LIV said: “Today’s tour made the case for LIV Golf. They paid less to players for years, failed to innovate and today confirmed that LIV’s format is better. We welcome the announcement, which proves that competition can grow the game and benefit golfers, all while improving The fan experience – and that’s exactly what LIV does.

“Instead of boycotting players, the column should now work on coexisting with us. After all, we are just getting started.”

PGA Tour chief accuses breakaway LIV of trying ‘to buy game of golf’ Source link PGA Tour chief accuses breakaway LIV of trying ‘to buy game of golf’

Related Articles

Back to top button