The PGA Tour could not afford to conduct a lengthy spending war against Saudi Arabia, the Wall Street Journal reported on Saturday, citing a person who heard the remarks by PGA Tour commissioner Jay Monahan.
Sep 25, 2022; Charlotte, North Carolina, USA; PGA Tour commissioner Jay Monahan talks during the singles match play of the Presidents Cup golf tournament at Quail Hollow Club. Mandatory Credit: Peter Casey-USA TODAY Sports
June 10 - The PGA Tour could not afford to conduct a lengthy spending war against Saudi Arabia, the Wall Street JournalMonahan told employees that the Tour had spent close to $50 million in its legal fight which had years to go, and had dipped into $100 million of its reserves to pay for its schedule, the report added.
"We cannot compete with a foreign government with unlimited money," Monahan said, according to the WSJ report. "This was the time….We waited to be in the strongest possible position to get this deal in place."Reporting by Urvi Dugar in Bengaluru; Editing by Alex Richardson
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Golf's PGA Tour and LIV merger is the latest power play by Saudi ArabiaObservers say the PGA Tour and LIV merger is the Saudis’ latest attempt to flex their influence across a breadth of American institutions and mine economic opportunities in spite of tense relations with the West in recent years.
Read more »
PGA Tour-Saudi PIF merger draws the attention of CongressThe PGA Tour-Saudi Public Investment Fund merger is far more than a sports story. It's a blending of cultures, a strategic alignment that combines an American-developed sports property with the vast financial resources of Saudi Arabia. The story has captured the interest of sports fans for months, and now, it's caught the eye of Congress, too.
Read more »
Saudi PIF, Crown Prince MBS keep winning with PGA, LIV, EPL dealsInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
9/11 victim family members ask Saudi officials for a meeting post LIV-PGA mergerThe request comes amid massive disappointment with the agreement between golf’s main two entities
Read more »
Anonymous LIV exec calls Rory McIlroy a ‘little b–ch’ after PGA Tour mergerOne LIV Golf executive isn’t mincing words about PGA Tour loyalist Rory McIlroy.
Read more »
The LIV Golf, PGA Tour merger shows why sports is so good for image washingThe merger of LIV Golf and PGA Tour shows the lure of sports to launder a country's reputation, in this case, Saudi Arabia and its human-rights abuses.
Read more »