Premier Golf League criticizes LIV Golf, PGA Tour in letter - bdsthanhhoavn.com

Premier Golf League criticizes LIV Golf, PGA Tour in letter

Back in February the Premier Golf League laid out its plan for a series of events that would partner with various tours, feature massive paydays and give ownership stakes to members of the league.

The PGL, a different entity from the Saudi Arabia-backed and Greg Norman-led LIV Golf Invitational Series that plans to rival the Tour, is doubling down on its efforts to meet with the PGA Tour and recruit its players.

The letter, obtained by Golfweek and dated for Thursday, May 5, and addressed to PGA Tour Voting Members says professional golf is at a “historic crossroads.”

“The ‘International Series,’ funded and owned by LIV Golf Investments (LIV), represents an existential threat, not only to the PGA Tour’s dominance, but also its model. Change is not only inevitable, it is happening – and no amount of purse rejigging, head-burying, ban-threatening, alliance-making or ‘moving-on’ will derail it,” read the letter signed by World Golf Group Limited, which not-so-subtly calls out the PGA Tour and Jay Monahan for his comments that the Tour was “moving on” from rival leagues, as well as the threatening to ban players who play for different leagues.

A Premier Golf League letter highlights the "historic crossroads" facing professional golf. (Letter obtained by Golfweek)

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“LIV’s superb format (based on our very own, original, PGL format) is capable of generating $10 billion-plus of equity value,” the letter continued. “Hence, LIV is prepared to spend $400 million-plus to demonstrate the brilliance of the model, across eight events.”

The letter goes on to lay out two options for PGA Tour players:

A) Own 50% of the PGL and make ~$20 million each ($2 million upfront), with a further ~$1 billion of value to be shared between members of the Korn Ferry and DP World Tours, or B) Do nothing and leave LIV to generate that value, while the two oldest tours contemplate a full merger that would serve neither membership

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