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.
Gabe Laques, MLB Editor & Reporter, USA Today Sports, joins Cheddar Bets to offer up his expert opinions on the start of baseball season.
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Baseball is as American as — Apple TV+. The National Pasttime has a new media partner this season, as the MLB will be streaming Friday night doubleheaders on the Apple streaming service. Noah Garden, the league's chief revenue officer, spoke to Cheddar News to break down the details of what's being offered in the new package and why Major League Baseball felt the need to make the move this year. "We've been in a situation where we've lost reach, even within the cable bundle. There are situations where people in the local market don't have access to watch their favorite team and their local team on top of that," he said. "You have cord cutters and even probably more importantly, cord nevers. So streaming offers of some ability to gain reach that we've lost over the the last couple of years, and Apple was really the perfect partner for us."
The 2022 Masters Tournament is slated to begin on Thursday, and one of golf's most iconic players is set to return to Augusta National, just 14 months after a devastating car accident. In a press conference, Tiger Woods told reporters that not only is he planning to play in the tournament, but that he also thinks he can win. Cam Rogers, national sports betting and golf analyst, and host of 'Lock It In'
for the Bleav Podcast Network, joins Cheddar News' Closing Bell to discuss.
Carsten Koerl, CEO of Sportradar, joins Cheddar News' Closing Bell, where he explains how his company is bolstering the platforms of sports betting and streaming networks, and discusses basketball legend and Sportradar investor Michael Jordan's role in helping the company grow.
Catching you up on what you need to know on April 4, 2022, with reports of Russian war crimes in Ukraine, a weekend shooting in Sacramento killing six and injuring 12, Mexico ending its gas subsidization for U.S. drivers, and the University of South Carolina winning the women's NCAA basketball championship, and more.
Between Bells EP Conor White recaps some of the biggest stories of the week, while Baker Machado and Hena Doba test their knowledge, and maybe learn a thing or two. It's This Week in Trivia!
David Salituro, MLB and PGA sportswriter for Fansided.com, joins Cheddar Bets to break down his favorite futures bets in the MLB and at The Masters.
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