A bombshell revelation came out Wednesday as it was revealed that Tiger Woods and the PGA Tour had a confidential deal that would keep the star golfer with the tour rather than join LIV Golf.
Rumor has it, that LIV Golf offered Woods and fellow golfer Rory Mcllory millions to join them. According to reports, Woods will receive up to $100 million in equity for staying loyal to the PGA Tour, with Rory McIlroy benefitting possibly to the tune of $50M for not defecting.
The PGA is also announcing that they cut a deal with Strategic Sports Group, which has invested 1.5 billion into the PGA Tour, to be divided amongst 193 golfers.
The catch is that $750 million will be given to the tour’s top stars as determined by a system called Career Points, which awards marks for achievements on the Tour for however long the players have been competing.
Another factor is the Player Impact Program — introduced three years ago largely to stave off the threat of the breakaway league — which rewards players who have had the largest impact on the Tour’s business — tickets, sponsorships, media consumption, and fan engagement.
The PGA had to do something to keep some of their major stars from leaving. LIV Golf reportedly was ready to give Woods close to a billion dollars to jump ship. Although $100 million isn’t anything to sneeze at, that is nothing compared to what he could have gotten playing for LIV Golf.
Long-time PGA golf Jon Rahm joined LIV Golf late last year and was reportedly paid $450 million to make the leap.
The ongoing feud between the two tours began when LIV Golf started poaching big-name golfers like Phil Mickelson and Sergio Garcia, offering them millions even if they don’t win a tournament. Soon others followed but the tour came under heavy criticism because the money they received was from the Saudi Arabian government, which did not sit well with a lot of US government officials or fans.
This time last year, it was announced that the two tours would merge but as of yet, that hasn’t happened, and a lot of people questioned if it should or even if it will happen. So, while that deal is still ongoing, the feud continues.
In the meantime, the PGA Tour is doing everything it can to ensure the major golfers they have left will stay put, but if anyone thought that Woods and McIlroy were staying with the tour out of the goodness of their hearts, they found out Wednesday, that wasn’t true.
The PGA Tour is no better than LIV Golf when it comes to paying for loyalty. And while it was a smart move, it’s still not a great look for all parties involved. It just proves that once again money can buy anything or anyone, including one’s loyalty.