Has commissioner Jay Monahan and the PGA Tour pulled off a bloodless Michael Corleone and fired a death knell for LIV Golf following the latest announcement?
As the sun rose at Pebble Beach, the PGA Tour made it official what everyone knew all along: that it has always been a for-profit enterprise despite all of its contributions to charitable causes.
The announcement of a new entity “PGA Tour Enterprises” following $3 billion of investment from Strategic Sports Group means the tour is now poised to become a viable, for-profit, new sports league.
If what has been announced is accurate, it has all the capital it needs for five years, sophisticated new management, equity for its members, 18 of the top 21 players worldwide, and massive television contracts.
In addition, it resolves its potential regulatory issues with a PGA/LIV merger, probably leaving those Senators in Washington DC smiling.
It leaves LIV Golf with only three top players, no world golf rankings, and no major television deal. Maybe the Saudis have unlimited capital, but no one likes to keep pouring money down a dry well. Especially the Saudis, who understand wells better than anybody.
From what I’ve read, Rory McIlroy’s last-minute, public act of contrition is a minority view, and a return of the prodigal LIV guys seems very unlikely, absent some substantial payback.
But, as we know, the devil is in the details. And like the early morning fog settling over Cyprus Point at the AT&T Pebble Beach, we won’t see the fairways below until it has cleared.
Jack Holden retired from business and returned to writing full time about his lifelong passion for the game of golf. He was introduced to the game as a caddy in Westchester County, NY, where golf clubs and great golf courses proliferate. He provides unique golf course reviews, commentary, opinions, tales and other interesting tid-bits about the game he loves.
