I guess all those Golf Channel pundits who ripped LIV as immoral human rights violators will be resigning their jobs now..........
I wish. Probably not. Now they will shill for the new merger. Whores.
That's rich. Apparently, hearing and reading comprehension isn't your strongest suit. Between Chamblee, Diaz, Lerner and Lynch, all have spent the last 20+ hours speaking their mind and standing by their principles. They've reported the facts and haven't strayed into the world of appeasement, nor moral capitulation. Not a position Jay Monahan or Phil Mickelson can lay claim to.
PS. This was, and is, an acquisition......not a merger. So many 2nd derivative issues remain to be resolved. Golf will stay on the front pages for a good long time.
This reminds me of how Formula One works. In racing, the FIA owns the F1 series and determines the rules, and U.S.-based Liberty Media owns the commercial rights, and sets the schedule, sells TV rights, sponsorships and the like under a franchise granted by the FIA, which gets a percentage of the revenue.
The New Company (maybe they'll come up with a name soon) will own the commercial rights to the PGA Tour, DP World Tour and LIV Golf. The still-existing PGA Tour Inc. will run tournaments, etc., as will the DP World (European) Tour. LIV, I'm not sure, nor am I sure if current TV rights will be transferred to the New Company, but it seems so. The Saudis (PIF) will own a chunk of it, along with PGA Tour Inc. and the Euros, and pour money in to get that chunk, percentage unannounced.
When you watch an F1 race, you see an FIA-sanctioned competition. Watch this week's Canadian Open, you'll see a PGA Tour Inc.-sanctioned competition, but, once everything is worked out, under the umbrella of New Company.
The tricky part is the foreign ownership, whether Saudis or not. Will companies workin
g with the Tour (from TV outlets to tournament owners) have to register under the Foreign Agent Registration Act? The phrase in the act: “any of whose activities are directly or indirectly supervised, directed, controlled, financed, or subsidized in whole or in major part by a 'foreign principal.' An individual or entity can become an “agent” even without a contractual relationship or formal agreement with a 'foreign principal.'Lots of hoops to go through before this takes effect, I think.