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.
For the first time in the history of the storied men's college basketball rivalry between Duke University and the University of North Carolina, the two teams will be meeting directly in the NCAA tournament — and in the Final Four! Sean Green, the co-founder of the Sports Gambling Podcast Network, joined Cheddar to give his take on the possible final game of legendary Duke coach, Mike Krzyzewski. "Now, if you recall, UNC actually beat Duke in Coach K's final home regular-season game, so revenge is going to be on the mind of Duke in this Final Four game, and I think they have the best of UNC. I like them laying four points," Green said. He also picked Villanova with an upset win over Kansas.
This June marks the 25th anniversary of the infamous 1997 "Bite Fight”, the iconic boxing rematch between Mike Tyson and Evander Holyfield when Tyson shockingly bit a piece of his opponent’s ear off. As a macabre tribute to the incident, the boxing legend’s line of cannabis products, Tyson 2.0, has released “Mike Bites", edibles in the shape of an ear complete with a bite mark. Tyson, the chief brand officer and co-founder, along with CEO Adam Wilks joined Cheddar News to talk about the unique gummies. "I just think this is just me owning what I did. I'm owning my responsibility. I've done that. That was pretty bad at the time, but I turned it over to make it pretty good," the former heavyweight champion said.
U.S. Figure Skating Hall of Famer and former Olympian Nancy Kerrigan spoke to Cheddar News about joining Ice Dreams, a national skating tour that connects legends of the sport with its next generation. Kerrigan spoke of the lessons she learned from the sport and how grateful she is for the opportunity to give something back. “I mean skating has taught me some of the greatest things in in my life," she said. "You know, you fall down, things get hard, but you get back up and you keep on trying. And if you're performing and doing something you love, I think you would actually do even better.”
Stephen Smith, Founder and CEO of Kitman Labs, joins Cheddar News' Closing Bell, where he explains how his company's intelligence platform is engineering change in how athletes and sports teams prepare for games.
Sportswear giant Adidas is giving student-athletes the opportunity to become partners as affiliate brand ambassadors to help grow their networks as professional athletes. Attorney Darren Heitner, the founder of Heitner Legal, joined Cheddar News to talk about the legalities of the process. "It is absolutely a game-changer because we see a major brand make a big splash, nine months into name image and likeness rights for college athletes," he said. "While it is a paid brand affiliate type of partnership, it will open the door for 50,000-plus athletes across the country to start making some money, even if it's just through other people clicking their links and making purchases."
State and county taxpayers will be asked to commit a record $850 million in public funds toward construction of the Buffalo Bills’ new stadium as part of a 30-year lease agreement.
Saint Peter's University - a small school in New Jersey school - has skyrocketed to the center of the sports world in a 'Cinderella' story for the record books. The ultimate underdog of the men's March Madness tournament is just the third 15-seed to reach the Sweet 16, after beating Murray State and college basketball powerhouse Kentucky. Throughout the university's historic run, Saint Pete's has reportedly been earning what amounts to millions of dollars in publicity. Amanda Christovich, reporter for Front Office Sports, joins Cheddar News' Closing Bell to discuss.
