PGA members demand information about Tour’s future
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England's Danny Willett is one of the 21 golfers who have demanded for more information regarding the PGA Tour's capital tie-ups.
PHOTO: REUTERS
LOS ANGELES – Golfers playing for the PGA Tour have demanded more information about the potential impact of capital tie-ups being discussed,
The PGA had announced plans to merge with Saudi-backed rival LIV Golf, but has also said it would advance discussions with United States-based Strategic Sports Group (SSG), which could come in as a co-investor.
There are 21 golfers, including 2016 Masters champion Danny Willett, who are seeking full disclosure of the details and analyses of any proposal by prospective partners as well as a meeting with the policy board, according to a Dec 10 letter sent by law firm Susman Godfrey.
“The board has recently received multiple bids by prospective capital partners that will potentially transform how the PGA Tour operates, who controls it, and who owns it,” attorney Jacob Buchdahl wrote on behalf of the golfers.
“All but a handful of PGA Tour players have been kept entirely in the dark about the prospective transaction, how it will impact them, and what conflicts of interest may impact the decision-makers.
“We demand full disclosure of the details and analyses of any proposals by prospective capital partners, which should be shared promptly with all Tour players.”
The policy board features the likes of Tiger Woods, Patrick Cantlay and Jordan Spieth, and the further growing divide in the elite ranks of the sport could leave average PGA players in limbo. Spain’s Jon Rahm is the most recent big name to move to LIV.
The PGA, meanwhile, did not immediately reply to a request for comment from Reuters, but ESPN reported the tour as saying: “Please know that while we can’t get into more details at this time, we are very confident in an eventual, positive outcome for all players and the PGA Tour as a whole.”
It had said over the weekend it is advancing negotiations with Saudi Arabia’s Public Investment Fund (PIF), as a deadline to finalise details from the June 6 framework agreement approaches on Dec 31.
The tour also revealed it is in talks with a “consortium of US professional sports owners” led by Fenway Sports Group.
SSG includes Fenway Sports Group, owners of Major League Baseball’s Boston Red Sox, as well as English Premier League club Liverpool. It also includes investment firm Cohen Private Ventures, New York Mets owner Steve Cohen’s family office and private equity firm HighPost Capital.
Reuters reported in September that Fenway Sports Group and Endeavor Group were keen in investing in the PGA Tour and any potential transaction would rival the PGA’s deal with the PIF.
REUTERS
