⛳ The signed agreement between the PGA Tour, DP World Tour and the leaders of LIV Golf was one of several documents sent to a Senate subcommittee that is looking into golf’s new entity.
Last July, the PGA Tour suspended players who participated in LIV events because they did not have the necessary releases to switch tours.
Less than a year later, the PGA Tour and European Tour joined forces with Saudi Arabia’s sovereign wealth fund, which runs LIV, with “a common goal of creating a global golf partnership and of growing and promoting the game of golf globally, ending divisions and unifying the game of golf for the benefit of all of their shareholders, including players, sponsors, and fans of the game worldwide.” The PGA Tour is given “full decision-making authority” for all matters connected to competition.
While the document does not include how much the PIF will invest into the new entity, the PGA Tour has said the agreement will not affect its status as a tax-exempt nonprofit. However, Blumenthal told Monahan that the agreement with the PIF could put the tax-exempt status in jeopardy.. It will then need approval from the PGA Tour Policy Board.
“The framework outlines a future for professional golf under the PGA Tour's leadership that benefits players, fans, and the sport,” the PGA Tour said Monday in a statement Monday. “Following the recent resolution of litigation, we're working productively towards a definitive agreement.”
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Pak pulls away, powers through PGA Tour Canada's Elk Ridge OpenThe Elk Ridge Saskatchewan Open, the second event on the 2023 PGA Tour Canada season, wrapped up Sunday in northern Saskatchewan.
Leer más »
PGA Tour sends 6 page 'framework' agreement on deal with LIV Golf to CongressThe golf world received a first look at the initial framework agreement for the new partnership between the PGA Tour, the DP World Tour and Saudi Arabia's Public Investment Fund on Monday night.
Leer más »
Players returning from LIV Golf are part of Saudis’ agreement with PGA TourThe PGA Tour and European tour have agreed to work with Saudi backers of LIV Golf to decide how defectors to the rival league can return and what kind of punishment they should face.
Leer más »
Congress receives ‘framework’ from PGA Tour on deal with SaudisThe PGA Tour sent its agreement with LIV Golf, among other documents, to Congress on Monday. The agreement leaves many questions unanswered and is mostly unbinding.
Leer más »
Framework of PGA Tour-LIV golf deal releasedThe framework of the merger agreement of the PGA Tour and Saudi-backed LIV Golf says a for-profit subsidiary of the U.S. golfing body will be created to manage commercial investments and assets for all tours, according to a copy reviewed by Reuters on Monday.
Leer más »
Will Taylor Swift’s ‘Eras Tour’ Become the First $1 Billion Dollar Tour?Taylor Swift’s epic “Eras Tour” is on track to become the biggest in concert history, with the potential to gross over $1 billion. Here’s the breakdown of how much money the singer is generating on tour.
Leer más »