CNBC’s ‘Squawk on the Street’ host David Faber tells Rich Eisen how soon the PGA Tour-LIV Golf merger could take place, how many billions the deal could be worth, and who will control the new entity once all the dotted lines have been signed.
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31 Comments
PGA sold its soul for a big fat pay check.
It is 2 billion being put into the new operation by PIF
So long watching golf. That'll give me more time to play it. The hypocrisy of Monahan is appalling. I feel bad for all the PGA players that stayed loyal and stuck to their ethics.
Rich is not an expert he just talks like he is
When LIV first came about, the PGA 'leadership' showed how incompetent and unorganized Phill claimed they were.
PGA valuation is 10 Billion 20% is 2 Billion and PIF has agreed to roll many billions into the future programs
Corruption and hypocrisy at its finest! The congress should act and stop this merger!
Not long ago (few yrs) many would say – bow to Tiger for what he did for your paycheck. Now…. What’s the narrative going forward for Phil?
Sports washing 101….
He who has the money, has the power and calls the shots. You can dress up this pig however you want. Monahan is just the pretty face.
Rich, when i Heard this and it was confimed, I cancelled my sub, to the pga golf channel.. I'm not suspporting all the betrayers, Mickleson, Norman.. And The Ball Less PGA Commish. A Sad Day For Real Golf Fans!!
“Bankers are creative people.” 😂
Pga tour players should have just shut their mouths, play golf, the tour definitely used certain players as pawns to give the message and promise them stay with us we will look after u, now they look like idiots who could have made tens of millions
Well the thing is they become a sellout now but it was either eat or be eaten business words and Saudi has billions of dollars they could outwork and out. Maneuver PGA in the sleep
I wish they would have stuck to their guns but I understand they had to go with business or die. Economically PGA because the commissioner lost 10 players to LIV and he feared that he might lose more players because the money was not coming in like it used to
End of the day, don't forget it makes no difference to the majors. They are not PGA tour/Saudi owned.
David Faber is a "booster bandit." Both he and Jim Cramer.
This is the sports story of the year and one of the most fascinating stories in my lifetime.
PIF is not going to invest billions of dollars just to have one seat at the table. Don't be mistaken. They're going to be running the show.
Jay Monahan is the lowest form of human life.
Monahan will be replaced by Phil. PIF will have the final say. PGA players should form a union to pit against PIF. PIF may not be able to avoid company disclosure if someone challenges the validity of the merger in a court.
This is an article from Tom Anderson April 2022 titled ‘The PGA’s China Problem’….PGA Tour China is one of several developmental circuits sponsored by The PGA. The PGA Tour appears unfazed by China’s appalling human rights record, which currently includes accusations of brutal persecution of its Uyghur Muslim population. The PGA Tour’s failure to file a 990 form disclosing its financial dealings with Chinese private equity firm Yao Capital As a tax-exempt organization, the PGA Tour is required to disclose such business dealings in China. It seems a clear case of the PGA Tour trying to have it both ways: gaining entry into the lucrative and largely untapped Chinese golf market, while flying under the radar of U.S. regulators and the IRS
What's the difference from players joining LIV for amount of money they can't refuse?
With Saudi PIF investment we'll see purses increase, interested to see what the increase is in charitable giving. Almost all the "work" for charitable fund raising is local with an army of volunteers. Loyal PGA tournament sponsors weren't happy when asked for the extra $10 million to double purses. Two tournaments lost their sponsors for next season.
Whoever controls the money controls the new entity it won’t be long before the saudis will fire the commissioner and have their own people running the PGA.
PIF as Chairman of the BOD. Drop the mic.
The number is high. The ottowa senators are about to sell for over a billion dollars. The pga has to be worth ten Ottawa's. Also, ehat happens to the LPGA? Im assuming women cant play golf there considering they dont let them drive.
Senate will look into it….That's Hilarious. They'll say that until they get a piece of Saudi Money.
This will be the playbook for one world ruler and government
PIF will invest in Women's golf, next. Bet.
Its all about "Show me the money".