In this must-watch video, we break down the unexpected decision as LIV and PGA Tour announce a deadline extension for their framework agreement. The golfing world is buzzing with speculation, and we’re here to provide a comprehensive analysis of what this move signifies for the future of the sport. Join us as we delve into potential implications, reactions from key stakeholders, and the ripple effect on both golfers and fans. Don’t miss out on the latest developments in golf use LIV, PGATour, GolfNews, and DeadlineExtended to engage in the conversation. Be sure to like, share, and subscribe to stay in the loop on this and other crucial golf-related news. Your support fuels our commitment to bringing you more insightful content. Stay tuned as we unravel the complexities of this major development in the world of golf! ⛳
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Months ago the golfing world had a bomb dropped on them as a framework agreement between the Saudi Arabia public investment fund PF and the PGA Tour was announced shocking everyone involved while this announcement came out of nowhere it was a big shock because of the animosity between live golf who the
PF funds and the PGA Tours however following this news some believe they are about to join forces while some think they’re only agreeing to tolerate each other but the truth is that many people don’t understand the detail of their proposed agreement or what may happen come the deadline this is the
Golf caddy where you get inside the Rope scoops and some opinions from a former caty himself today we’ll be discussing what the agreement is all about the upcoming deadline and the changes it will cause and everything else in between make sure to stick with us to the end for the shocking details however
Feel free to leave a comment with your opinion what do you make of the agreement is it good for golf or just becoming a money hungry sport more than it already was in June 20 23 the PGA Tour DP World Tour and sback live circuit made a shocking announcement
That sent ripples through the World of Golf in a joint announcement the three organizations made it known that they would be putting their differences aside to form a unified commercial entity they also mentioned that they will work together to provide an opportunity for live golfers to reapply for membership
On the PGA tour and DP World Tour after the 2023 season this sounds like a usual agreement so why exactly were people shocked well let’s back up a bit for a better understanding in 2022 the Saudi Arabia funded organization pif was the majority investor of a new upstart golf
League called live other leagues were not too pleased by the development due to several reasons one it’s believed that Saudi Arabia was trying to sports wash their anti-human rights activities by getting involved in everything they could lay their hands on and that included golf two they were ready to
Splash around money the other organizations couldn’t afford to steal the best golfers and lastly the structure of the league was completely different from what already existed so it was quite hard for the other organizations to welcome live with open arms the PGA Tour especially didn’t try to conceal their distaste for the league
The golfers who agreed to participate in live were suspended from participating in PGA related events and they also lost their ability to earn owgr points eliminating many of their opportunities to participate in the most important tournaments the majors Liv and the PGA Tour began to sue each other resting in
Them being stuck with several litigations both parties were not making any substantial progress with their lawsuit and the animosity among players grew while also costing a lot of money specifically for the PGA Tour they increased purses to counter the live Exodus however with increased purses meant they needed more investment from
Sponsors and other areas and clearly were outgunned in a money race with Liv and pif following a lot of back and forth the two parties decided it was best to push their differences and do something beneficial for the sport and and that was what brought about the framework agreement for a new joint
Entity between PF and the PGA Tour we want to be clear that the agreement is between the majority investors in live golf and not actually live golf with the PGA Tour what does this mean for live well continue to listen and you’ll find out despite the move being to serve a
Good purpose many PGA golfers initially slammed the whole thing especially because they had been kept in the dark one person who initially wasn’t in support was veteran golfer Tiger Woods I would say that my reaction was surprised just like I’m sure a lot of the players were taken aback by what had happened
And so quickly without any input or any kind of information about it it was just thrown out there will zillat Taurus wasn’t thrilled by the announcement but he said he understood the reason behind it I can see why it happened I don’t think anyone does when you get an email
That says this is your tour and three people basically decide your future that’s kind of hard to accept besides them some of the other golf enthusiasts believed it was a bad idea to get in bed with Saudi Arabia du due to their multitude of human rights violations
Such as the murder of the Washington Post journalist Jamal kosagi in 2018 and supposed involvement in 911 J manahan co-opted the 9911 Community last year in the pga’s unequivocal agreement that the Saudi live project was nothing more than sportswashing of Saudi Arabia’s reputation now the PGA and Monahan
Appear to have become just more than paid shills taking billions of dollars to cleanse the Saudi reputation so that Americans and the world will forget how they funded terrorism but the PGA Tour commissioner made it clear that the decision had been made for the benefit of every golf lover and player how did
We go from a confrontation to now being Partners we just realized that we were better off together than we were fighting or apart we are proud to partner with the PGA Tour to leverage pf’s unparalleled success and track record of unlocking value and bringing Innovation and Global best practices to
Businesses and sectors worldwide so what exactly is this agreement about let’s break it down the first thing to understand the current agreement signed by the PF PGA and DP organization is only a framework of what their joint Enterprise would be and they agree to reach a final agreement by the 31st of
December this year as it is there’s a good chance the deadline will be postponed because a lot of things have happened since the initial announcement another thing is that the agreement is not a merger of the sports leagues nor a pif takeover of the PGA Tour but rather
A joint investment among the three leagues to create a new for-profit company initially the announcement showed that the PF the organization with enough money to throw around would be the exclusive investor for the company pumping 90% of the total funds needed for the company then the PGA Tour would
Be the one in control of the operations the PGA tour’s Chief Ron price made it clear that if the final agreement does not end up with them in charge of the new entity the deal would be off the table this is to show that they have no
Intention of pif being at the Forefront of golf we will not move to a definitive agreement unless the PGA Tour is in complete control of the the new entity which will be a PGA Tour subsidiary controlled by the PGA Tour board and operated for the benefit of all our
Constituents our players fans sponsors and Charities if that is not where we end up we will not even recommend approval however things have changed regarding the exclusivity of pf’s investment in the entity when the framework agreement was announced several Anti-Trust issues arose with the US Department of Justice the summary of
It all is that they all can believe Saudi Arabia is making this deal out of good faith and and so to reduce the scrutiny from the doj the PGA Tour decided to involve some American investors it also helps that many people showed interest as it is the American
Investment Group that would be joining the pif as minority owners of the new golf entity is the Strategic Sports Group SSG SSG is a corporation of billionaire team owners that includes Arthur Blank of the Atlanta Falcons Tom Werner and John Henry of the Boston Red Sox and Wick grck of the Boston Celtics
Although negotiations are still ongoing between all parties it’s believed that the SSG would be investing $3 billion into the new entity now that we’ve cleared up the financial aspect of the framework agreement let’s go into other details in the framework agreement released it’s been revealed that Liv golf’s uncertain future will be
Determined by the PGA Tour Monahan hinted that there might be some changes to the current format but everything is not definite yet the whole thing will come to light when the final agreement is released another aspect mentioned in the agreement is that the PGA Tour will continue to operate independently it
Will not make any changes to its current structure but things might have changed in this aspect since the initial framework agreement was released because there have been unofficial statements about the PGA considering adding more no cut designated events a move clearly inspired by live much speculation is
That Liv Golf League will be disbanded or somehow swallowed up by the new entity and go back to one major golf tour with a team aspect instead of two competing tours it’s also important to mention that the agreement entails both sides dropping existing l litigation and an additional Clause where if the whole
Deal falls apart the litigation cannot be renewed so the summary of it all is that the organization would be coming together to create an entity that could fund the League’s involvement in the partnership pif and SSG would provide the money the PGA Tour would provide the
Brains and the DP World Tour would enjoy the benefit of it all as good as it sounds the negotiation process has been going slowly although many golfers and golf enthusiasts have come to understand the benefit of this move some other things have been causing a hold Tiger
Woods who is part of the PGA Tour policy board recently told reporters that the whole negotiation is murky and that things are quite hard to navigate there’s a lot of moving Parts on how we’re going to play whether it’s here on the PGA tour or it’s merging or team
Golf there are a lot of different aspects that are being thrown out there all at once we’d like to believe that the deal would be finalized soon but what happens if everything falls apart if we were to take a wild guess the animosity in the world of golf would
Intensify and it would be so hard to pick up the pieces the PGA might lose more really good golfers to live as it recently lost John ROM and Liv would find it harder to get the recognition it so desires although they might not be able to reopen their previous
Litigations because of their settlement agreement they can decide to sue for other reasons hopefully things work out well so what do you think about the PF and PGA Tour framework agreement let us know in the comment section and we’ll see you in the next Video
