PGA & LIV merge

[biggunsbob]

For you golf fans .I like the majors but had no interest in any liv events.


https://www.cnbc.com/2023/06/06/pga-tour-agrees-to-merge-with-saudi-backed-rival-liv-golf.html

 

[Mitchrapp]

No more golf for me.

 

[tinselwolverine]

Won?t change much for me.

I also ain?t gonna stop buying gas.

 

[Spartanmack]

McIlroy, Spieth, Thomas, etc, etc got completely played by Jay Monahan who demanded their loyalty then took the LIV money himself becoming CEO of the newly formed for profit golf company that is going to run all of golf going forward. I don't have twitter but saw this in an article about the merger. Apparently Trump called this last July with this tweet:

All of those golfers that remain "loyal" to the very disloyal PGA, in all of its different forms, will pay a big price when the inevitable MERGER with LIV comes, and you get nothing but a big "thank you" from PGA officials who are making Millions of Dollars a year. If you don't take the money now, you will get nothing after the merger takes place, and only say how smart the original signees were. Good luck to all, and congratulations to really talented Cam Smith on his incredible WIN!

He pretty much nailed it. Monahan f'd over every player that was loyal to him and the LIV players are cleaning up - they got paid massively up front, plus they have equity stakes in their teams whose value is going to skyrocket with this merger. Monahan gets to run all of golf and the PGA guys get nothing.

Rory McIlroy earned $8mm on tour last year while nobody Pat Perez got paid $10mm just to join LIV. Monahan probably f'd McIlroy out of 9 figures minimum.

 

[JScottWriter]

Can?t wait to watch the Bone Saw Invitational and the 9/11 Open.

 

[Michchamp]

I just read this Article by an anti-trust writer saying there's no way this merger goes through as is.

Interesting that the things Monahan publicly said the PGA was doing "removing a competitor" or whatever, are illegal under Federal law. So, the author thinks there's something else going on. Or else these guys think they're "Elon Musk" level untouchable by federal law.

 

[tomdalton22]

I just read this Article by an anti-trust writer saying there's no way this merger goes through as is.

Interesting that the things Monahan publicly said the PGA was doing "removing a competitor" or whatever, are illegal under Federal law. So, the author thinks there's something else going on. Or else these guys think they're "Elon Musk" level untouchable by federal law.

I saw a similar article somewhere as well.

 

[Michchamp]

The point about Saudi Arabia having opened its laws and practices up to scrutiny in US courts by forming a sports league (as a sovereign nation they would have otherwise been able to dodge any subpoenas or data requests about this stuff) is interesting.

I would wager they realized they took a bite of a sour apple when they sued the PGA, and decided to sell on the cheap before having to concede at court to keep their dirty laundry hidden. And the PGA guy was like "Fuck, I'm doing this deal without talking to any lawyers, because FUCK lawyers and all that bullshit."

Now, he's going to learn the hard way why it's cheaper to pay a lawyer for a couple hours of advice up front, rather than hundreds of hours after you get in trouble.

OR if he really does have that clout, he can pay off the right politicians and the FTC will drop it. But the FTC under Biden has actually been doing their jobs, so that might not be an easy way out

 

[tomdalton22]

The point about Saudi Arabia having opened its laws and practices up to scrutiny in US courts by forming a sports league (as a sovereign nation they would have otherwise been able to dodge any subpoenas or data requests about this stuff) is interesting.

I would wager they realized they took a bite of a sour apple when they sued the PGA, and decided to sell on the cheap before having to concede at court to keep their dirty laundry hidden. And the PGA guy was like "Fuck, I'm doing this deal without talking to any lawyers, because FUCK lawyers and all that bullshit."

Now, he's going to learn the hard way why it's cheaper to pay a lawyer for a couple hours of advice up front, rather than hundreds of hours after you get in trouble.

OR if he really does have that clout, he can pay off the right politicians and the FTC will drop it. But the FTC under Biden has actually been doing their jobs, so that might not be an easy way out

I think what they really did is they effectively bought the PGA tour.

 

[Mitchrapp]

I think what they really did is they effectively bought the PGA tour.

In a sense yes, Monahan is like fk where's the money.

 

[Michchamp]

I think what they really did is they effectively bought the PGA tour.

I can't square that with the other reporting that the PGA will appoint the majority of the directors, but I admit I am not following this THAT closely, and don't want to. But some of the articles I've read pique my interest.

I didn't realize that pro golfers are underpaid relative to the pros in other sports leagues. But I'm not sure if that is measured against league revenues or some other metric.

 

[Mitchrapp]

I can't square that with the other reporting that the PGA will appoint the majority of the directors, but I admit I am not following this THAT closely, and don't want to. But some of the articles I've read pique my interest.

I didn't realize that pro golfers are underpaid relative to the pros in other sports leagues. But I'm not sure if that is measured against league revenues or some other metric.

A great year like really great maybe the top guys make 15-20 mill. Most much less.

 

[tomdalton22]

I didn't realize that pro golfers are underpaid relative to the pros in other sports leagues. But I'm not sure if that is measured against league revenues or some other metric.

It really is hard to determine since the golfers get paid in a different manner than professionals in team sports. Top end golfers make much more through endorsements than probably any other professional sport since they are the brand.

For instance, Tiger Woods career PGA tour earnings is "only" $120M. Miguel Cabrera will have earned $393M after this year.

 

[Mitchrapp]

It really is hard to determine since the golfers get paid in a different manner than professionals in team sports. Top end golfers make much more through endorsements than probably any other professional sport since they are the brand.

For instance, Tiger Woods career PGA tour earnings is "only" $120M. Miguel Cabrera will have earned $393M after this year.

Tiger Woods sure but no other golfer gets paid close to his adorsements.

 

[tomdalton22]

Tiger Woods sure but no other golfer gets paid close to his adorsements.

right, that was kind of my point. Golfers make much more in endorsements than most professionals in team sports.

 

[Michchamp]

It really is hard to determine since the golfers get paid in a different manner than professionals in team sports. Top end golfers make much more through endorsements than probably any other professional sport since they are the brand.

For instance, Tiger Woods career PGA tour earnings is "only" $120M. Miguel Cabrera will have earned $393M after this year.

Well, how do the league revenues compare?

Is the workload of a pro golfer anywhere near the workload of an MLB player, with 160 games a season? Presumably they also don't have the health problems pro football or hockey players do.

I'm curious how PGA revenues & profits compare to the MLB, NBA, NFL or NHL. That may be another measure of whether golfers are underpaid.

 

[Mitchrapp]

Well, how do the league revenues compare?

Is the workload of a pro golfer anywhere near the workload of an MLB player, with 160 games a season? Presumably they also don't have the health problems pro football or hockey players do.

I'm curious how PGA revenues & profits compare to the MLB, NBA, NFL or NHL. That may be another measure of whether golfers are underpaid.

Backs are a big injury.. other bones. Besides the 4-5 hours a day from Thursday to Sunday they have things to do earlier in the week, M-W which includes practice time. And all the walking. It can't be easy. MLB just have to stand there until a ball comes their way.

 

[Mitchrapp]

right, that was kind of my point. Golfers make much more in endorsements than most professionals in team sports.

They don't have shoe deals, or gatorade. We're talking thousands not millions.

 

[tomdalton22]

They don't have shoe deals, or gatorade. We're talking thousands not millions.

Golfers definitely have shoe deals. They get paid to wear shoes, get paid to use clubs, balls, apparel, cars, etc. They are walking billboards.

 

[Mitchrapp]

Golfers definitely have shoe deals. They get paid to wear shoes, get paid to use clubs, balls, apparel, cars, etc. They are walking billboards.

You might be right.