Posted on 06/09/2023 5:54:48 PM PDT by nickcarraway
Golfers who stayed loyal to the US PGA Tour, but not those who jumped to LIV Golf, will receive equity shares in a new for-profit entity, ESPN reported on Friday (Jun 9).
Jimmy Dunne, a member of the PGA Tour policy board who helped broker the shocking deal between his group and the Saudi backers of LIV Golf, told ESPN that would be a way to reward players who stayed loyal to the PGA.Dunne, an investment banker and president of Seminole Golf Club in Florida, said PGA Tour members will get equity under a yet-to-be-determined formula in the new company formed by the PGA Tour, DP World Tour and Saudi Public Investment Fund (PIF).
"The new (company) would grow, and the (current PGA) players would get a piece of equity that would enhance and increase in value as time went on," Dunne told ESPN.
(Excerpt) Read more at channelnewsasia.com ...
Poor old Joe Dirt gets squat.
And Tiger turned down something around $700 million to remain loyal to PGA !!!!!
Tiger made a business decision. Regardless of the amount, he and his advisors {both financial as well as legal} believed it was in his best interests to stay in the PGA.
Life is a series of choices and if he can afford to reject $700,000,000.00 who am I to feel sorry for the tiger?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.