The most disruptive year in golf ended Tuesday when the PGA Tour and European tour agreed to a merger with Saudi Arabia's golf interests, creating a commercial operation designed to unify professional golf around the world.
As part of the deal, the sides are dropping all lawsuits involving LIV Golf against each other effective immediately.
Still to be determined is how players like Brooks Koepka and Dustin Johnson, who defected to Saudi-funded LIV Golf for nine-figure bonuses, can rejoin the PGA Tour after this year.
Also unclear was what form the LIV Golf League would take in 2024. Commissioner Jay Monahan said in a memo to players that a thorough evaluation would determine how to integrate team golf into the game.
The agreement combines the Public Investment Fund's golf-related commercial businesses and rights — including LIV Golf — with those of the PGA and European tours. The new entity has not been named.
“They were going down their path, we were going down ours, and after a lot of introspection you realize all this tension in the game is not a good thing,” Monahan said in a phone interview with The Associated Press.
“We have a responsibility to our tour and to the game, and we felt like the time was right to have that conversation.”
Yasir Al-Rumayyan, the governor of Saudi Arabia’s sovereign wealth fund, will join the board of the PGA Tour, which continues to operates its tournaments. Al-Rumayyan will be chairman of the new commercial group, with Monahan as the CEO and the PGA Tour having a majority stake in the new venture.
The PIF will invest in the commercial venture.
Monahan said the decision came together over the last seven weeks.
The leading gaming organization and lifestyle brand 100 Thieves just raised $60 million in new funding closing its Series C. This new round of funding has raised the valuation of the organization to about $460 million. John Robinson, president and COO of 100 Thieves, joins Cheddar News to talk about what's next for the company.
Heather Smith, Founder and Chief Strategist at theHAUTEbar, discusses how the ski and resort industry is bouncing back after the pandemic; Mark Ellwood, Host of "Travel Genius" Podcast, breaks down the best travel destinations for winter sports before the 2022 Winter Olympics kick off; Cheddar gets a look at Curiosity Stream's 'Jeremy Jones' Higher.'
Joan Greve, a politics reporter at The Guardian US, joined Wake Up With Cheddar to break down the implications of the Biden administration announcing a diplomatic boycott of the 2022 Beijing games in response to allegations of human rights abuses against Uyghur Muslims. She noted the significance of the move, assessing the already frayed relationship between the U.S. and China. "The Chinese have said that a boycott would be politically manipulative, and now they are actually threatening countermeasures," she said. "And that will certainly have an impact on the spirit of the games at the very least."
The U.S. announced it will not send any official representation to the upcoming Beijing winter Olympics. Cheddar's Hena Doba speaks with East Asia expert Michael Swaine about the reasons behind the diplomatic move.
Carlo and Baker discuss the sweeping new vaccine mandate in NYC that will target all private businesses. Plus, Trump's media venture gets its CEO and more.
A lockout is now in place for Major League Baseball. The collective bargaining agreement between the league and players association expired at 11:59 p.m. Wednesday night.
MLB commissioner Rob Manfred said both sides were unable to negotiate a new contract by that time, so the league locked out the players on Thursday at 12:01 a.m. The lockout also means trades and free agency deals have to stop for now. Dodgers Nation lead editor Clint Pasillas joined Cheddar News' Closing Bell to discuss.
'Bing Bong!' has become a rallying cry for Knicks fans and New Yorkers. Cheddar's None Of The Above dives into the origin of the sound in this edition of Tik Talk.
A Business Insider study is revealing MLB used two different balls throughout the 2021 season without alerting teams or players of that fact. One was roughly two to three grams lighter than the other. While that doesn't sound like a lot, if you ask the players, the difference was obvious. Bradford Davis, an investigative reporter at Insider, joins Cheddar News to discuss more.
The Tampa Bay Buccaneers have moved to suspend wide receiver Antonio Brown, along with two other players, who lied about their COVID-19 vaccination status. The three-day suspensions come just days after a former live-in chef accused the NFL star of submitting a fake vaccine card and the league fined Green Bay Packers quarterback Aaron Rodgers for a similar offense. Anthony Tall, sports agent and president of Miracle Sports Agency, joined Cheddar's "Closing Bell" to talk about the fallout from Brown's suspension and whether or not it was warranted.
