{"id":3808,"date":"2023-09-21T17:26:52","date_gmt":"2023-09-21T15:26:52","guid":{"rendered":"https:\/\/a2kadvisory.com\/?p=3808"},"modified":"2023-09-22T14:53:38","modified_gmt":"2023-09-22T12:53:38","slug":"does-tiger-woods-who-reportedly-turned-down-800-million-from-the-saudis-have-what-it-takes-to-stop-the-liv-golf-deal-with-the-pga","status":"publish","type":"post","link":"https:\/\/a2kadvisory.com\/fr\/2023\/09\/21\/does-tiger-woods-who-reportedly-turned-down-800-million-from-the-saudis-have-what-it-takes-to-stop-the-liv-golf-deal-with-the-pga\/","title":{"rendered":"Does Tiger Woods, who reportedly turned down $800 million from the Saudis, have what it takes to stop the LIV Golf deal with the PGA?"},"content":{"rendered":"
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t
\n\t\t\t<\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t
\n\t\t\t<\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Tiger Woods will have a bigger say in the PGA Tour\/LIV deal.<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Woods reportedly turned down up to $800 million from the Saudi organization prior to the deal’s announcement.<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

As professional golfers continue to express concerns about the PGA Tour\u2019s\u00a0deal with the Saudi-backed LIV Golf<\/a>, Tiger Woods has joined the board of directors in a concession to player demands.<\/p>

Under the new structure, which was announced Tuesday, the PGA Tour\u2019s board will consist of six players, five independent directors, and the PGA of America director. Previously there were five players on the board, and Woods is the golfers\u2019 choice for additional seat. A replacement for the seat that was\u00a0once held by AT&T chairman Randall Stephenson<\/a>, who resigned citing \u201cserious concerns\u201d about the deal, will be named soon.<\/p>

The board also plans to update its governing documents to ensure no major decisions can be made without the involvement of player directors. That could impact the LIV deal, as the tour is in the midst of finalizing the framework agreement.<\/p>

\u201cThis is a critical point for the Tour, and the players will do their best to make certain that any changes that are made in Tour operations are in the best interest of all Tour stakeholders, including fans, sponsors and players,\u201d Woods\u00a0said in a statement<\/a>.<\/p>

LIV exploded into the golf world in June of last year,\u00a0luring star players with contracts that guaranteed as much as $100 million<\/a>\u00a0and tournament prizes that set world records. The PGA and PGA Tour, at the time, argued the league was compromising the integrity of the game\u2014and several golfers, including Woods, turned down enormous paydays to remain loyal to the PGA Tour. Woods was reportedly offered\u00a0up to $800 million<\/a>.<\/p>

Then in June of this year, despite players\u2019 objections, the PGA inked an agreement that would turn the LIV Golf organization and the PGA Tour into collaborators bankrolled largely by the Saudis, in an entity to be chaired by Yasir al-Rumayyan\u2014chairman of Saudi Aramco\u2014if\u00a0the deal goes through.<\/p>

Players said they were blindsided by the LIV deal. While five golfers were on the board, the deal was largely put together by just two non-player members.<\/p>

The Northern Irish golfer and board member Rory McIlroy, speaking at the time the deal was announced, said \u201cI still hate LIV, I hate them. I hope it goes away and I fully expect that it does.\u201d Others, including three-time PGA winner Scott Stallings, targeted their ire at PGA Tour Commissioner\u00a0Jay Monahan<\/a>.<\/p>

\u201cI am committed to taking the necessary steps to restore any lost trust or confidence that occurred as a result of the surprise announcement of our Framework Agreement,\u201d Monahan said in a statement. \u201cAny agreement we reach must be shaped by our members\u2019 input and approval earned through our Player Directors.\u201d<\/p>

The deal has also come under scrutiny by the U.S. government, with a Senate panel\u00a0holding hearings last month<\/a>. At those, PGA Tour officials said that they saw little choice when it came to the deal, given the essentially bottomless resources of the Saudis\u2019 $700\u00a0billion Public Investment Fund, gleaned from the oil profits of state-owned Saudi Aramco,\u00a0the No. 2 company<\/a>\u00a0on\u00a0Fortune<\/em>\u2018s Global 500 list and\u00a0the most profitable company<\/a>\u00a0in history.<\/p>

\u201cIf they take just five players a year, then in five years, they can gut us,\u201d Jimmy Dunne, vice chairman of\u00a0Piper Sandler<\/a>, who negotiated the PGA Tour deal, told the Senate. \u201cIf we do nothing, they could end up owning golf.\u201d<\/p>

While there was plenty of rhetoric, there was\u00a0no indication during the hearing<\/a>\u00a0that Congress would block the tour from going into business with the Saudis.<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Source : fortune.com<\/a><\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

As professional golfers continue to express concerns about the PGA Tour\u2019s deal with the Saudi-backed LIV Golf, Tiger Woods has joined the board of directors in a concession to player demands.<\/p>","protected":false},"author":1,"featured_media":3815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"sync_status":"none","episode_type":"audio","audio_file":"","castos_file_data":"","podmotor_file_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","footnotes":""},"categories":[159,40],"tags":[157,156,151,112],"series":[],"class_list":["post-3808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sport","category-finance","tag-liv-golf-deal","tag-pga","tag-saudi","tag-tiger-woods"],"episode_featured_image":"https:\/\/a2kadvisory.com\/wp-content\/uploads\/2023\/09\/Tiger-wood_september.jpg","episode_player_image":"https:\/\/a2kadvisory.com\/wp-content\/uploads\/2023\/05\/19539922-1637334246902-6294ae5e06f42-3-scaled.jpg","download_link":"","player_link":"","audio_player":false,"episode_data":{"playerMode":"dark","subscribeUrls":{"amazon":{"key":"amazon","url":"","label":"Amazon","class":"amazon","icon":"amazon.png"},"anchor":{"key":"anchor","url":"https:\/\/anchor.fm\/a2k-advisory","label":"Anchor","class":"anchor","icon":"anchor.png"},"apple_podcasts":{"key":"apple_podcasts","url":"https:\/\/podcasts.apple.com\/us\/podcast\/the-right-advice\/id1596929049","label":"Apple Podcasts","class":"apple_podcasts","icon":"apple-podcasts.png"},"castro":{"key":"castro","url":"","label":"Castro","class":"castro","icon":"castro.png"},"deezer":{"key":"deezer","url":"","label":"Deezer","class":"deezer","icon":"deezer.png"},"soundcloud":{"key":"soundcloud","url":"","label":"SoundCloud","class":"soundcloud","icon":"soundcloud.png"},"spotify":{"key":"spotify","url":"https:\/\/open.spotify.com\/show\/1r3FwW7RFRGxZIoZOrQp70","label":"Spotify","class":"spotify","icon":"spotify.png"},"stitcher":{"key":"stitcher","url":"","label":"Stitcher","class":"stitcher","icon":"stitcher.png"},"youtube":{"key":"youtube","url":"https:\/\/youtube.com\/channel\/UCI4m4z0GcFZDCVk34Gbxoag","label":"YouTube","class":"youtube","icon":"youtube.png"},"itunes":{"key":"itunes","url":"","label":"iTunes","class":"itunes","icon":"itunes.png"}},"rssFeedUrl":"https:\/\/a2kadvisory.com\/fr\/feed\/podcast\/the-right-advice","embedCode":"

Does Tiger Woods, who reportedly turned down $800 million from the Saudis, have what it takes to stop the LIV Golf deal with the PGA?<\/a><\/blockquote>