The PGA and Saudi Public Investment Fund are a sure bet
Published 1:27 pm Tuesday, September 12, 2023
Dear Editor,
Bad news is all over the place, particularly in the professional sports world, which is rife with ugly stories of stupid things big money does. It’s hard to beat golf in this category.
In a merger battle of which we know only what is apparent, the Professional Golf Association (PGA) has yielded to Saudi money and agreed to merge with the LIV (Saudi) Tour and European Tour, acknowledging that the PGA could not match the wealth of The Saudi Public Investment Fund; the entities are now working out the details of operations, money, etc. And just like that, POOF!, the Saudis are taking over the American tour. Keep in mind that the PGA is a non-profit, pays no taxes, and the Saudi Fund pays limited taxes in the U.S.
I don’t play golf, but I appreciate the history and lore of the game. It started many generations ago as a game of the somewhat wealthy, who were talented with a wooden stick and a ball, and some American tournament winners now earn $3+million for one tournament and tens of millions more over time, as well as big endorsement deals between top players and corporations.
The object of this international dealmaking between the PGA and the Saudi group is becoming clearer. These American icons of golf don’t really need Saudi money, but the Saudis need American help to clean up their world image of murder and deceit, and they have unlimited money to get it whitewashed. The Saudis have pressured and paid many top American and world players to help merge the PGA and Saudi tours—and it is working. In the end, the Saudi Public Investment Fund aims to control world golf after the PGA officially falls at its feet, and the first step has been taken.
Jay Monahan, the PGA Director, recently said the Saudis have unlimited money and the PGA can’t afford a lengthy legal fight against a merger. The Saudis, using oil money and a desire for a better world image, are determined to overwhelm any PGA effort to win this golf dispute, so Monahan is throwing in the towel. Golf is a game of wealth that the PGA apparently can’t win, but handing over the keys to the Saudis is not the way to go. Rather, it should simply cease business and file for a legal end to its operation…no more PGA. I say sell the assets, pay the bills, distribute the money left to PGA members, and walk away. This will sully the PGA’s reputation a little with the world, but it’s better than caving to the Saudis.
Of course, all major professional sports want to dominate their place in the world and can find investors to arrange a way to do it. Adding the arrival of legal gambling on sports and all sorts of lotteries, it seems nothing is impossible now as long as ticket buyers keep betting their money instead of supporting their families.
Grant Plymel
Thomasville