The golfers who stayed with the PGA Tour as a substitute of taking thousands and thousands to hitch the LIV Golf League could possibly be rewarded with fairness shares within the new enterprise among the many Tour, the DP World Tour and the Saudi Public Funding Fund (PIF).
Jimmy Dunne, the PGA Tour coverage board member who helped dealer the landmark deal, instructed ESPN that present members of the PGA might get a chunk of fairness within the for-profit enterprise.
The golfers who left the PGA Tour to hitch LIV golf wouldn’t have the ability to take part within the fairness plan, in keeping with Dunne.
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“The brand new [company] would develop, and the [current PGA Tour] gamers would get a piece of fairness that might improve and improve in worth as time went on,” Dunne instructed ESPN. “There must be some sort of formulaic resolution on how to do this. It might be a course of to find out what can be a good mechanism that might be actually helpful to our gamers.”
The bombshell settlement was introduced on Tuesday with a purpose to “unify the sport of golf, on a worldwide foundation.”
The brand new settlement will merge the PIF’s golf-related companies, which embody LIV Golf, with that of the PGA Tour and the DP World Tour right into a “new, collectively owned, for-profit entity to make sure that all stakeholders profit from a mannequin that delivers most pleasure and competitors among the many sport’s greatest gamers.”
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Dunne will serve on the corporate’s board, in keeping with the ESPN report.
There have been many questions relating to the merger, together with whether or not the gamers who remained loyal to the PGA Tour can be rewarded for staying away from LIV.
On Thursday, 2022 U.S. Open winner Matt Fitzpatrick was requested his ideas on golfers who remained with the PGA Tour following the merger.
“It is clearly a troublesome query to reply. I by no means actually obtained a proper provide anyway. It wasn’t one thing I used to be focused on from the beginning,” Fitzpatrick stated, in keeping with Golf Digest. “I purely spoke to them purely out of being nosy as to what they are going to do, what they are going to, what is the setup going to be. So, yeah, for me it did not actually make a distinction. I used to be all the time going to be on the PGA Tour.
“Clearly for the blokes that did flip down vital quantities of cash, then that is in all probability a troublesome one to swallow, and I really feel for them.”
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