Outside Topic Money talks. LIV, PGA and Euro tours merge - Printable Version
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Money talks. LIV, PGA and Euro tours merge - cardcrimson - 06-06-2023
After all the condemnation, all the bad blood, all the BS, the three main golf tours merge. Money talks, even Saudi money.
https://apnews.com/article/liv-golf-pga-europeann-tour-saudi-arabia-a316315863e88d3f69b763fbdc82ebe0
RE: Money talks. LIV, PGA and Euro tours merge - fullmetal - 06-06-2023
Seems the players heard nothing about it and had no input. What a betrayal of values and craven display of greed.
RE: Money talks. LIV, PGA and Euro tours merge - winflop - 06-06-2023
(06-06-2023, 07:22 PM)fullmetal Wrote: Seems the players heard nothing about it and had no input. What a betrayal of values and craven display of greed.
The agreement isn't even close to final and it could fall apart. It's only the framework that has been agreed to. Players from both the PGA Tour and DP World Tour wil have to ratify the final agreement and will have a lot of say in the terms that are negotiated. Players make up the substantial majority of the Boards of Directors of both tours.
This is the first step in a process that will take most of the rest of this calendar year to complete.
RE: Money talks. LIV, PGA and Euro tours merge - OutsiderFan - 06-07-2023
I saw Monohan say the PGA Tour will be in a “control position” multiple times. I’m curious what this means nd what from an equity and voting perspective makes this the case. Also wonder if this may be true, but Saudis actually have the power in final analysis in terms of ability to control finances.
I also want to know WTF is motivating the Saudis to spend so much money on sports. The contracts for pas their prime international soccer players to play in a Saudi league seem unhinged. How the hell do the people of the country allow this profligate spending on such silliness? How do the economics even work? Can’t imagine it possible for these teams to do anything but lose a bunch of money. Karim Benzema, 34, gets a 3 yr deal for $643 million!?!?!
https://www.sportingnews.com/us/soccer/news/karim-benzema-contract-salary-al-ittihad-saudi-real-madrid/nhtfp8fgfzkyqxhsvk7nq6ve
RE: Money talks. LIV, PGA and Euro tours merge - M T - 06-07-2023
(06-07-2023, 04:07 AM)OutsiderFan Wrote: How the hell do the people of the country allow this profligate spending on such silliness? How do the economics even work?
Wikipedia classes Saudi Arabia as an absolute monarchy, which it defines as
Quote:Absolute monarchy is a form of monarchy in which the monarch rules in their own right or power. In an absolute monarchy, the king or queen is by no means limited and has absolute power, though a limited constitution may exist in some countries
So, your question is rather meaningless.
RE: Money talks. LIV, PGA and Euro tours merge - OutsiderFan - 06-07-2023
(06-07-2023, 05:07 AM)M T Wrote:(06-07-2023, 04:07 AM)OutsiderFan Wrote: How the hell do the people of the country allow this profligate spending on such silliness? How do the economics even work?
Wikipedia classes Saudi Arabia as an absolute monarchy, which it defines as
Quote:Absolute monarchy is a form of monarchy in which the monarch rules in their own right or power. In an absolute monarchy, the king or queen is by no means limited and has absolute power, though a limited constitution may exist in some countries
So, your question is rather meaningless.
Revolutions have toppled monarchies throughout history.
But honestly, I care way less about the Saudi political structure per se than I want to understand the motivation to spend all this insane money on sports in a way that will lose money. The Saudi oil riches are going to dry up sooner than later to relative to humanity's history even, to say nothing of to Earth's.
RE: Money talks. LIV, PGA and Euro tours merge - cardcrimson - 06-07-2023
(06-07-2023, 04:07 AM)OutsiderFan Wrote: I also want to know WTF is motivating the Saudis to spend so much money on sports. The contracts for pas their prime international soccer players to play in a Saudi league seem unhinged. How the hell do the people of the country allow this profligate spending on such silliness? How do the economics even work? Can’t imagine it possible for these teams to do anything but lose a bunch of money.
One might say the same about the Senior PGA Tour, yet there it is, and has been for years. . . .
RE: Money talks. LIV, PGA and Euro tours merge - Mick - 06-07-2023
(06-07-2023, 08:47 AM)cardcrimson Wrote:(06-07-2023, 04:07 AM)OutsiderFan Wrote: I also want to know WTF is motivating the Saudis to spend so much money on sports. The contracts for pas their prime international soccer players to play in a Saudi league seem unhinged. How the hell do the people of the country allow this profligate spending on such silliness? How do the economics even work? Can’t imagine it possible for these teams to do anything but lose a bunch of money.
One might say the same about the Senior PGA Tour, yet there it is, and has been for years. . . .
I kinda get the Senior PGA Tour. I wouldn't ever pay to see a baseball/football/basketball/hockey game of 50+ year olds, but hand-eye coordination sticks around for quite a while, and the 50+ year old pros play a game that I will never, ever approach. Plus...I grew up with those guys. If I look at the leaderboard of a PGA event these days, I might recognize a dozen to two dozen names. If I see a Senior PGA leaderboard, I'll recognize at least 3/4ths of them.
RE: Money talks. LIV, PGA and Euro tours merge - winflop - 06-08-2023
Great quote from Rory McIlroy, who I would guess hates LIV more than any other PGA Tour player. He pretty much perfectly sums up my feelings about this merger:
"Whether you like it or not, the PIF were going to keep spending the money in golf,” McIlroy said. “At least the PGA Tour now controls how that money is spent.”
The Saudis are a minority investor. The PGA Tour and DP World Tour have the substantial majority of seats on the board.
My hope is that down the road someone like Jeff Bezos comes in and buys out the Saudis
https://www.wsj.com/sports/golf/liv-golf-pga-tour-rory-mcilroy-merger-eb2271c0?st=6epz59j9v5f580i&reflink=desktopwebshare_permalink