Canada
This article was added by the user . TheWorldNews is not responsible for the content of the platform.

REPORT: PGA Tour players who remained loyal to get equity stake in new company

Get the latest from Jon McCarthy straight to your inbox

Rory McIlroy of Northern Ireland watches after hitting his first shot on the 16th hole during the second round of the RBC Canadian Open at Oakdale Golf and Country Club on Friday June 9, 2023 in Toronto.
Rory McIlroy of Northern Ireland watches after hitting his first shot on the 16th hole during the second round of the RBC Canadian Open at Oakdale Golf and Country Club on Friday June 9, 2023 in Toronto. Photo by Vaughn Ridley /GETTY IMAGES

One of the major questions surrounding golf’s mega-merger is how, or if, players who stayed loyal to the PGA Tour such as Rory McIlroy and Jon Rahm would be rewarded for passing up on LIV Golf riches.

Some light has been shed on that seemingly complicated sticking point to the future of golf, according to a report on Friday evening. One of the chief architects of the deal, Jimmy Dunne, told ESPN that players who opted to stay loyal to comissioner Jay Monahan’s tour will receive an equity stake in the new parent company set to be formed if the deal between the PGA Tour and the Saudi Public Investment Fund gets finalized. Dunne also said that golfers who left for LIV would not be eligible for equity.

Don Brennan’s daily hit on the world of sports betting. Whether you’re new to sports gambling or an experienced wagerer, this newsletter offers trustworthy insights into the odds game. 19+. Please gamble responsibly.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

“The new (business) would grow, and the (eligible) players would get a piece of equity that would enhance and increase in value as time went on,” Dunne told ESPN.

As for how much, and which players get made whole, Dunne said that still has to be worked out.

  1. Alanis Morissette performs during a public memorial for singer Lisa Marie Presley, the only daughter of the

    Parking sold-out at RBC Canadian Open ahead of Alanis Morissette and Black-Eyed Peas concerts

  2. Mackenzie Hughes says he and many PGA Tour golfers feel a loss of trust after the merger with LIV Golf.

    In wake of merger with LIV Golf, a trip inside (and outside) the heated PGA Tour players meeting at RBC Canadian Open

  3. Canadian Mackenzie Hughes tees off on the 10th hole during the Canadian Open Pro-Am in Toronto on Wednesday, June 7, 2023.

    Don't dare bet against bad luck Canadian Open

“There would have to be some sort of formulaic decison how to do that,” he said. “It would be a product to determine what would be a fair mechanism that would be really beneficial to our players.”

Dunne, who is an independent director on the PGA Tour Policy Board, also said that a panel, likely including PGA Tour players, would be formed to work out an appropriate path for the return of any LIV golfers who wish to return to the PGA Tour.

“Players on LIV that wanted to reinstate onto the PGA Tour would go through a process (and) suspension,” Dunne said. “Whatever the penalty was, they’d have to decide whether they wanted to do that or not.”

RECOMMENDED VIDEO