PGA Commissioner Jay Monahan said tour couldn't compete with Saudi funds, which led to LIV merger: report

  • 📰 FoxNews
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 87%

Österreich Nachrichten Nachrichten

Österreich Neuesten Nachrichten,Österreich Schlagzeilen

A new report says after the PGA paid $50 million in legal fees and added nine figures to its purse prizes, it had no choice but to merge with LIV.

Jay Monahan, commissioner of the PGA Tour, speaks to the media at a press conference prior to The Players Championship March 7, 2023, in Ponte Vedra Beach, Fla.

"We cannot compete with a foreign government with unlimited money," Monahan reportedly told employees."This was the time. … We waited to be in the strongest possible position to get this deal in place.

LIV Golf CEO Greg Norman watches from a suite on the 18th green during the LIV Golf Invitational - DC at Trump National Golf Club May 27, 2023, in Sterling, Va.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 9. in AT
 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Golf's PGA Tour and LIV merger is the latest power play by Saudi ArabiaObservers say the PGA Tour and LIV merger is the Saudis’ latest attempt to flex their influence across a breadth of American institutions and mine economic opportunities in spite of tense relations with the West in recent years.
Herkunft: NBCNews - 🏆 10. / 86 Weiterlesen »

9/11 victim family members ask Saudi officials for a meeting post LIV-PGA mergerThe request comes amid massive disappointment with the agreement between golf’s main two entities
Herkunft: politico - 🏆 381. / 59 Weiterlesen »

The PGA Tour’s Antitrust Problem Isn’t Going Away With LIV MergerThe PGA Tour-LIV Golf merger stunned the golf world. But for an industry already under investigation by the Justice Department for antitrust violations, it might not stand up to federal scrutiny.
Herkunft: WSJ - 🏆 98. / 63 Weiterlesen »

Fallout from the PGA's shocking merger with LIVAs part of the deal, the Saudi investment fund will become the sole financial backer of the newly unified tour. The agreement also closes out all litigation between the two groups, including an antitrust suit filed against the PGA by several LIV players.
Herkunft: YahooNews - 🏆 380. / 59 Weiterlesen »

Fans And Pros React To The PGA–LIV MergerDespite potentially violating antitrust laws, the PGA Tour and LIV Golf recently announced a planned merger. The Onion asked golf fans and pros what they thought about the merger, and this is what they said. Fans And Pros React To The PGA–LIV Merger
Herkunft: TheOnion - 🏆 724. / 51 Weiterlesen »