PGA Tour, LIV Golf agree to merge

[Derwin0]

However, I think the PGA took a stand on principle which I thought was the right thing to do.

The stand was never about principles.

I'm very disappointed now that the whole discussion has come down to dollars.

That's all it was ever about.

The PGA saw a rival forming that could endangers it's revenues (as that rival was paying players more) and took measures to stop them. And now they've capitulated (due to the antitrust lawsuit in progress or other reasons) in order to protect their revenues.

 

[madmadworld]

Players never in control at the PGA ... Shocking

 

[c-spand]

The stand was never about principles.

That's all it was ever about.

The PGA saw a rival forming that could endangers it's revenues (as that rival was paying players more) and took stands to stop them. And now they've capitulated (due to the antitrust lawsuit in progress or other reasons) in order to protect their revenues.

Interesting because i know the owner of PXG wants nothing to do with LIV when it started...................Will see what happens.

 

[Derwin0]

DOJ is opening an investigation into the merger. A follow on to the already in progress antitrust investigation against the PGA.

WSJ News Exclusive | PGA Tour’s Deal With LIV’s Saudi Backers to Be Investigated by the Justice Department

The probe introduces uncertainty to the agreement between warring bodies that stunned the golf industry, which was already facing scrutiny under federal antitrust law.

www.wsj.com

The Justice Department has notified the PGA Tour that it will review the Tour’s planned merger with LIV Golf’s Saudi backers for antitrust concerns, people familiar with the matter said, initiating a regulatory obstacle to the stunning deal that the warring golf bodies hope will stabilize the divided sport.

A review by the Justice Department—which had already been investigating the PGA Tour and other leading golf bodies for anticompetitive behavior—introduces uncertainty to the planned joint venture between the PGA Tour and Saudi Arabia’s Public Investment Fund. It also makes it probable that any transaction that is hammered out between the rivals won’t take effect for some time.
...
Antitrust lawyers have been quick to point to potentially problematic aspects of the deal, including statements by Monahan, who told reporters that it would be good for the Tour “to take the competitor off of the board, to have them exist as a partner, not an owner.”

 

[madmadworld]

Hands out