After Rahm’s defection from LIV, uncertainty reigns over the PGA Tour-Saudi deal


After Rahm’s defection from LIV, uncertainty reigns over the PGA Tour-Saudi deal

As the deadline approaches (December 31) for PGA Tour close its framework agreement with the Saudi sponsors of LIV Golfwho signed on Masters champion and world No. 3 Jon Rahm, ‘Sports Illustrated’ reported that the Saudi Arabia Public Investment Fund is prepared to not only pump $2 billion into the proposed trade deal as part of the June 6 agreement, but also an additional $1 billion in compensation funds for tour golfers who reject LIV’s lucrative offers.

The prestigious publication also said so Patrick CantlayNo. 5 in the world, has taken control of the negotiations with Tiger Woods and Jordan Spieth as part of an alliance to protect the interests of the best players still on the PGA Tour. Spieth was replaced Rory McIlroy, who resigned last month and has often disagreed with Cantlay. “We seek the best outcome for golfers as a whole, and we are six people as directors of the Players Committee.”

The Arab accord, announced on June 6, specified that the December 31 deadline could be extended if both sides agreed, although the PGA Tour Commissioner Jay Monahan, said last week that Dec. 31 is a “firm goal.” Monahan was supposed to meet with the Arabs this week, but the meeting was postponed until next week. Cantlay, who chose not to speak publicly, did so to say he was guided by the responsibility to represent all members of the circuit.

Cantlay, who won the FedEx Cup in 2021 and was named PGA Tour Player of the Year, is someone who can be distant. He is the hero in the end Ryder Cup for not wearing a USA team cap, which some media interpreted as protesting non-payment, which he has always denied. Spieth said yesterday that Cantlay could be an easy target because of his personality. “But he is very smart and very measured in everything he says. He doesn’t waste words, and many times that is considered a request. In no way does it control anything. You want objectivity when that doesn’t seem to be the case. He, like the rest of us, may disagree on the how, when and why. But our collective duty is to represent the players: with agreement, without agreement, with multiple partners,” Spieth said.

Many partners include venture capital groups that have been part of the negotiations. Of these, Acorn Growth and Fenway Sports Group are believed to be the main candidates. Negotiations were complicated when Rahm, who has been loyal to the PGA Tour since the Super League emerged, announced Thursday that he had signed with the rival circuit. Not only was this a huge loss for the PGA Tour, but it was a reminder that LIV Golf has enough money to attract more players.

Monahan was originally scheduled to meet this week with Yasir Al-Rumayyan, head of the PIF. The meeting was postponed until next week, and it is unclear whether it will still stand after Rahm’s signing. “It’s a good move on their part,” Spieth said of the Saudis. “I think we have a better ‘hand’, but they know what we have,” he added. Among those leading Acorn Growth’s bid to invest in the PGA Tour is Randall Stephenson, the retired president of AT&T, who resigned from the tour’s board in protest of the Saudi deal. McIlroy, for his part, has been linked to Fenway Sports Group through its TGL league, which has been postponed until 2025. Woods was named to the board four months ago.

Spieth wanted to make it clear that Patrick Cantlay has done more for the PGA Tour in his last six months on the board than anyone since Tiger Woods. “He seems like the biggest problem and that couldn’t be further from the truth.”

Source: La Verdad


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