The PGA Tour Strikes Back With A $3 Billion Deal
What To Expect: Today’s newsletter breaks down the PGA Tour’s new $3 billion investment, including who is involved and why this might signal the start of a long war against LIV Golf. Enjoy!
LIV Golf has upended professional golf over the last three years. Phil Mickelson. Brooks Koepka. Jon Rahm. Dustin Johnson. Cameron Smith. The Saudi-backed league has spent billions to earn millions, luring major winners away from the PGA Tour with nine-figure contracts in hopes of creating a new global professional golf tour.
There have been so many lawsuits it’s difficult to keep track, with the PGA Tour spending more on legal fees in 2022 ($21 million) than the previous ten years combined ($16 million). The verbal attacks have been constant, too, both in private and public. Sponsors are pulling out of tournaments. Leaderboards are feeling diluted, and the PGA Tour’s counterpunches have done nothing to slow the threat.
But this week, the PGA Tour and Commissioner Jay Monahan finally landed a punch.