{"id":299560,"date":"2023-12-12T15:09:43","date_gmt":"2023-12-12T15:09:43","guid":{"rendered":"https:\/\/tellmysport.com\/?p=299560"},"modified":"2023-12-12T15:09:43","modified_gmt":"2023-12-12T15:09:43","slug":"pga-tour-faces-800bn-liv-golf-problem-despite-agreement-with-liverpool-owners","status":"publish","type":"post","link":"https:\/\/tellmysport.com\/golf\/pga-tour-faces-800bn-liv-golf-problem-despite-agreement-with-liverpool-owners\/","title":{"rendered":"PGA Tour faces \u00a3800bn LIV Golf problem despite agreement with Liverpool owners"},"content":{"rendered":"

PGA Tour, DP World Tour and LIV Golf agree shock merger<\/h3>\n

The deadline for a binding agreement between the PGA Tour, the DP Tour and LIV Golf over their proposed merger is fast approaching. Despite outlining plans to establish a new\u00a0for-profit entity in June, the PGA Tour may bolster its own finances by entering into a partnership with\u00a0Strategic Sports Group (SSG).<\/p>\n

The civil war within the game appeared to be heading towards a truce in the summer, when the America-based circuit’s commissioner Jay Monahan announced a shock agreement. However, all parties have been locked in negotiations in the time since, with no tangible details regarding progress having emerged in the interim period.<\/p>\n

Meanwhile, the announcement of an agreement to advance negotiations over a \u00a343 billion ($54bn) partnership between the PGA Tour and SSG came this month and could see some of sport’s most prominent business figures coming on board as investors. Among those will be Fenway Sports Group chiefs John W. Henry, Mike Gordon and Tom Werner – all of whom are best known for their involvement at storied sporting institutions Liverpool FC and the Boston Red Sox.<\/p>\n

That agreement arrived in the wake of LIV Golf’s most pronounced power play to date, though, after the Saudi Arabian tour lured Masters champion Jon Rahm to their circuit. The world number three sealed a \u00a3450m payday to head to the Gulf State circuit from 2024 onwards.\u00a0<\/p>\n

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The current state of play is such that the PGA Tour is still looking to strike a deal with the Public Investment Fund (PIF) to secure the merger with LIV before the December 31st deadline. Following the announcement of their desire to close out a deal with SSG, the PGA Tour Policy Board released a statement confirming their intentions.\u00a0<\/p>\n

They asserted: “The PGA Tour Policy Board has unanimously selected an outside investment group to further negotiate with as talks with the PIF continue to progress. The decision to advance discussions with Strategic Sports Group (SSG) was announced Sunday in a memo to Tour members.”<\/p>\n

That said, if the PGA Tour is unable to secure an agreement with LIV Golf for a merger between them and the Europe-based DP Tour, the financial disparity between the entities will be stark. In fact, despite the potential agreement with SSG meaning the PGA Tour would have almost investment from figures worth\u00a0$54bn altogether, that figure is dwarfed by the $800bn that PIF has at its disposal.<\/p>\n

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