Break: John Lam has announced his resignation from Liv Golf on an incredible return on the PGA tour.
Break: John Lam has announced his resignation from Liv Golf on an incredible return on the PGA tour.
Break: John Lam has announced his resignation from Liv Golf on an incredible return on the PGA tour.
Break: John Lam has announced his resignation from Liv Golf on an incredible return on the PGA tour.
Break: John Lam has announced his resignation from Liv Golf on an incredible return on the PGA tour.
Liv Golf passes another shock wave through sports, a large gold passing through the 29 -year -old Masters Champion to support Saudi Arabia.
Masters’ John Lamb champions have come to the Financial Golf Course Arabians in that they have more money than the total price of the PGA tour.
Lamb confirmed this stage in an interview with Fox News on Thursday. Wearing a black letterman jacket with the LIV logo, he said this was a difficult solution.
“I was very happy,” Lam said. “But there’s a lot of things that are very attractive about LIV Golf.”
His compensation is reportedly $500 million, which would likely include equity in the new team, but he said he would not disclose the value of the contract. The PGA Tour’s total budget for 2023 was about $460 million. The development comes 25 days before the PGA Tour deadline, with Saudi Arabia’s Public Investment Fund seeking to sign a deal on June 6 to become a commercial partner in a parallel commercial venture with the European Tour.
Negotiations are moving slowly, with Tiger Woods saying last week there was a lot of movement. Even more interesting is that 29-year-old Rahm, ranked No. 3 in the world and a two-time major champion nearing the peak of his career, was the one who got away with it.
Rahm was adamant that he had enough money and only cared about history and legacy. He said recently that whenever he sees his name associated with LIV, “it makes me laugh.”
“It was a great offer. The money is great, obviously it’s wonderful,” Rahm said. “But what I said before is true: I don’t play golf for the money, I play golf for the love of golf and the love of golf. But as a husband, a father and a man with a family, I have an obligation to give my family the best opportunities and as many resources as possible, and that’s what matters.”
The Spaniard will make his LIV debut in the league’s season-opening event at LIV Golf Mayakoba in Mexico from February 2-4.
He’s eligible for the next five years, lifetime for the Masters and until 2031 for the U.S. Open. It is always necessary to judge how this step affects the rights of the rider cup.
“It’s difficult to sit here and criticize John from a wonderful player,” Lolly Makira said in an interview with Sky Sport. “John will be at Bethpage in 2025 (for the Ryder Cup). Because of this decision, the European Tour will have to rewrite the rules. There’s no doubt about that.”
With the addition of Rahm, LIV Golf has now produced seven of the last 14 major winners.
PGA Tour Commissioner Jay Monahan was scheduled to meet with PIF Chairman Yasser Al-Rumayyan this week. The talks have been postponed until next week, but it is unclear whether they will still take place and what impact Lam’s announcement will have on the negotiations.
Since this exciting business partnership was proposed on June 6, the tour has also received offers from private equity groups. They include Fenway Sports Group and Acorn Growth, which includes former AT&T Chairman Randall Stevenson. He resigned from the PGA Tour board over his opposition to the Saudi Arabia deal. The agreement originally included clauses to prevent players from being poached, but those clauses were removed after the Department of Justice faced antitrust concerns.
The LIV deal goes against everything Rahm has said about the league. He has voiced his support for the PGA Tour starting in February 2022, saying as recently as August on a Spanish-language podcast: “I never liked that format,” he said, calling the 54 holes with no cuts and a shotgun start “not tournament golf.” “I want to play against the best in the world in a format that’s been around for hundreds of years,” he said at last year’s U.S. Open. “That’s what I want to see.”
He sang a different tune in the Fox interview, saying that while money is a factor, there are other factors that “make things so exciting.” “When you get past that, the love of the game, the desire to grow the game into a global market and then being part of a team and being a captain and hopefully being a leader to your teammates, it’s something very special,” Rahm said.
