Inside the LIV Golf and PGA stand-off with £2.3bn hanging and Saudi fury at player power
The original deadline for a merger agreement between the PGA Tour and LIV Golf has expired, but talks continue.
Golf’s greatest battle will continue even after the merger between the PGA Tour and LIV Golf expires on December 31, 2024. But the deal between the tournaments is far from done after the PGA confirmed to member players that it expects negotiations to continue into the new year.
Just before the new year, a memo was sent to all PGA players informing them that negotiations with Saudi Arabia’s Sovereign Investment Fund would continue until 2024. Tourism Commissioner Jay Monahan said in a memo released on New Year’s Eve that the PGA was seeking an extension based on the progress of negotiations.
Last June, Monaghan played golf when the PGA Tour and LIV Golf announced they had reached a “marginal agreement” to drop all lawsuits against each other and operate an integrated tour with the DP World Tour (formerly the European Tour) . But outside the negotiating table, few details have been shared about what it will look like, with the future prospects of elite golf still unclear.
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PGA Tour Chief Commissioner Jay Monahan is under pressure to reach an agreement. (Image: Getty)
But PIF’s golf league isn’t the only organization in talks with the PGA. A consortium called Strategic Sports Group (SSG) is keen to get involved and will be involved in the whole deal if Monaghan goes through with it. SSG is made up of billionaire sports team owners, including Fenway Sports Group (FSG), which owns Liverpool FC and the Boston Red Sox.
In a note to players, Monaghan confirmed that the PGA had made “significant progress” in negotiations with SSG and that the deal was nearing completion, with the necessary terms and conditions and documents drawn up. The New York Post claims the SSG deal will generate £2.3m for the new tournament.
Golf’s premier golf tournament has been shaken up by the Saudi-funded Breakaway League in 2022. At this time, many famous stars have canceled their memberships to join LIV for lucrative deals. The latest buyer is Masters champion and Ryder Cup star John Rahm. John Rahm joined LIV last month, raising £450m for the Spaniard’s stake.
But despite the clear message about LIV and Rahm’s intentions, it still feels very PG.
