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The PGA Tour has been in near-constant upheaval since PIF officially launched LIV in late 2021, with the upstart poaching high-profile members with big-ticket contracts before and since the start of competition in 2022. ing. (The latest news, according to the Telegraph, is the signing of Englishman Tyrrell Hatton for a reported $65 million. Hatton was to become a member of Boston Common Golf, which is part of FSG (Debut has been postponed to 2025 due to entry into the TGL, a simulator golf league supported by
What appeared to be a long and costly legal battle between the two teams was surprisingly shelved in June with the announcement of a framework agreement for both tour teams to work together to restructure men’s professional golf.
PGA Tour Commissioner Jay Monahan and LIV Golf Chairman Yassir Al-Rumayan have announced that they have been forced to move forward in recent days, past the proposed Dec. 31 deadline to complete the LIV Golf Chairman’s contract. For months, discussions have continued on the scale, scope and nature of the proposed new partnership. It was announced in the new year that, “Based on the progress made so far, we are working to extend negotiations until next year.”
Discussions between key stakeholders, including the DP World (formerly European) Tour, have otherwise been shrouded in secrecy for months.
In December, the PGA Tour’s policy committee, whose executives include players, confirmed it had chosen to pursue investment negotiations with the SSG Consortium, a group of owners of North America’s five major sports leagues.
In addition to FSG itself, its top four owners (John Henry, Tom Warner, Jerry Cardinale, and Mike Gordon) are individually listed as SSG members. In addition to the Red Sox, FSG also owns the Liverpool Football Club, the NHL’s Pittsburgh Penguins, and 80 percent of NESN. (Henry also owns a glove.)
The SSG mix also includes Celtics lead owner Wick Grousbeck. Mark Attanasio, owner of the Milwaukee Brewers. Arthur Blank, owner of the NFL’s Atlanta Falcons and MLS’s Atlanta United FC. Mets owner Stephen A. Cohen and his Cohen Private Ventures. David Moross of Hipost Capital. Mark Lasry, former co-owner of the Milwaukee Bucks. and Tom Ricketts, owner of the Chicago Cubs.
In a statement regarding the proposed partnership with the PGA Tour, Henry said: [a consortium of US-based professional sports team investors] has expressed an interest in supporting the PGA Tour and its affiliate partner, the DP World Tour, and looks forward to continuing dialogue to advance the commercial aspects of the Tour on behalf of its members, partners, and fans around the world. I look forward to it. ”
Shortly after the progress in SSG negotiations, LIV Golf announced that it had signed Jon Rahm, the current Masters champion and No. 3 in the world rankings, to a deal said to be worth more than $300 million. (Hatton will join Rahm’s new LIV team.) Rahm will join other major champions Dustin Johnson, Brooks Koepka, Bryson DeChambeau, Cameron Smith and Phil Mickelson in LIV.
CBS’ PGA Tour TV ratings rose 1% last year from 2022. LIV Golf, which has a broadcast agreement with the CW Network, stopped publishing ratings for tour venues in April.
Mr. Monaghan’s revelation that he was working with, rather than against, PIF led to such a backlash that Mr. Monaghan, a Belmont native and former FSG employee, took a leave of absence, saying it was related to stress. .
PIF’s involvement has drawn the attention of lawmakers in Washington, D.C., who are concerned about Saudi Arabia’s stance on human rights, including the killing of journalist Jamal Khashoggi. Khashoggi’s assassination is believed by U.S. intelligence to have been approved by Saudi leaders.
Michael Silverman can be reached at michael.silverman@globe.com.
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