Digital Sports Desk

Online Destination for the Best in Boston Sports

Sports Business

Ross Places Dolphins on the Block

by

MIAMI – (Staff and Wire Service Report from a News Post by Sportico) – Billionaire Stephen Ross is exploring options to sell a minority stake in the Miami Dolphins, Hard Rock Stadium and the F1 Miami Grand Prix, according to a report from sports business site, Sportico.

Embed from Getty Images

Ross reportedly has been talking to multiple investors since earlier this year, according to a Sportico source.

It is possible that Ross could decide not to sell at a later date, according to the source.

The talks are reportedly intended to provide Ross with capital to invest in new sports ventures.

Ross is worth $8.64 billion, according to Bloomberg, but Forbes pegs his net worth at $11.6 billion. He is the principal owner of the Dolphins which, including team-related businesses and real estate holdings, are worth $5.24 billion, per Sportico.

In 2022, the Dolphins had revenue of nearly $600 million and an operating profit of approximately $128 million.

He is also the principal owner of Hard Rock Stadium, which had total revenues of $129.8 million, according to Fitch Ratings.

Ross also owns the Miami International Autodrome, which runs around Hard Rock Stadium and had exclusive rights to host the Miami Grand Prix through the 2032 season. The Formula 1 Grand Prix was held there for the first time in 2022.

In addition to The Related Companies, a real estate development company he founded in 1972, Ross is also the 2012 co-founder of a private investment firm, RSE Ventures, which covers sports and entertainment, media and marketing, food and lifestyle, and technology.

Ross has been active in real estate development and philanthropy for four decades. His other holdings include the Miami Open tennis event as well as investments in the Equinox gym chain and SoulCycle.

Ross is the third NFL owner looking to sell a minority franchise stake. New Washington Commanders owners David Blitzer and Josh Harris need to divest their stakes in the Pittsburgh Steelers, and the Los Angeles Chargers have a 24 percent stake available.

–Field Level Media

Rory, Keegan Join Boston Common Golf

by

FENWAY – (Staff Report from Official News Release) – Boston Common Golf, the new tech-forward golf team representing Boston and New England, named four world-class PGA TOUR golfers to its new team, including Rory McIlroy, Keegan Bradley, Adam Scott, and Tyrrell Hatton.

“These four remarkable golfers have achieved an extraordinary list of accolades as individuals, and together as a group, they convey an unmistakable sense of exceptionalism that not only commands respect but also instills a profound sense of awe, especially among their competitors,” said Fenway Sports Group principal team owner John Henry.

“Rory, Tyrrell, Keegan, and Adam stand at the very heart of our team’s potential for success in this groundbreaking venture and we extend our gratitude to each of them for embarking on this journey with us.

“As a co-founder of this visionary league, I want to express my sincere appreciation to Rory and for the partnership we have with Sean O’Flaherty of Symphony Ventures who has been indispensable in helping us build Boston Common Golf. The Symphony team have placed their trust in Fenway Sports Group, and it is an honor and a privilege to share this path with them.”

McIlroy currently ranks as World No. 2 and has spent more than 100 weeks as World No. 1 during his career. Along with Tiger Woods and Jack Nicklaus, he is one of only three players to win four majors by the age of 25. McIlroy turned professional in 2007 and has since recorded 24 PGA Tour victories, nine international victories, and three FedEx Cup championships. His most recent victory came at the 2023 Genesis Scottish Open in June. McIlroy grew up in Holywood, Northern Ireland, and in 2022 became the first player from outside the United States to serve on the PGA TOUR Policy Board. He is a co-founder of TMRW Sports, the parent company of TGL.

“I’m thrilled to join Boston Common Golf and to be representing Boston and New England’s rich sports culture,” said McIlroy. “TGL brings a unique dimension to the game, and I can’t wait to stand with Adam, Keegan, and Tyrrell as my teammates. It’s a fantastic opportunity that will offer us all a chance to build lasting connections and to foster regional pride that you don’t often see in the game of golf.”

Bradley currently ranks as World No. 17 and has ranked as high as World No. 10. Bradley has recorded six PGA TOUR wins, including the 2011 PGA championship, and has made two Ryder Cup appearances for the U.S. team (2012, 2014). His most recent victory came at the 2023 Travelers Championship in June. Originally from Woodstock, Vermont, Bradley currently splits his time between Jupiter, Florida and Newburyport, MA.

“I’m incredibly proud to be a part of Boston Common Golf, especially as a kid from New England,” said Bradley. “This region has a rich golfing history, and to have the opportunity to represent it is a dream come true. I come from a family deeply connected to the sport, and to represent that heritage while also contributing to a team backed by Fenway Sports Group is a unique honor.”

Scott currently ranks as World No. 45 and has ranked as high as World No. 1, most recently in 2014. Since turning professional in 2000, Adam has recorded 14 PGA Tour victories and 14 international victories. His most recent victory came at the 2020 Genesis Invitational. Scott has been selected for the Presidents Cup 10 times (first being selected in 2003 and most recently selected in 2022) and the World Cup four times (2001, ’02, ’13, ’16). Born in Adelaide, Australia, Scott currently resides in Crans-Montana, Switzerland. He became the first Australian to win the Masters when he beat Angel Cabrera in a playoff at the 2013 tournament at Augusta National.

“My first win on the PGA TOUR was in 2003 at the Deutsche Bank Championship in Massachusetts which makes being part of the New England team especially meaningful,” said Scott. “Australia may be a world away from New England, but the golfing spirit is universal. Joining Boston Common Golf feels like a unique opportunity to be part of a team deeply connected to the heart of the game and to represent a region with such a rich golfing tradition.”

Hatton currently ranks as World No. 12 and has ranked as high as World No. 5, most recently in 2021. He has one PGA Tour victory (2020 Arnold Palmer Invitational) and six international victories. His most recent success came at the 2021 Abu Dhabi HSBC Championship. Since turning professional in 2011, Hatton has been selected for three Ryder Cup teams (2018, ’20, ’23), the World Cup (2018), and the Eurasia Cup (2018). Hatton grew up in High Wycombe, Buckinghamshire, England and now splits his time between Marlow, England and Orlando, Florida.

“Being a part of the Fenway Sports Group family through Boston Common Golf is truly surreal,” said Hatton. “As a lifelong Liverpool F.C. fan, it’s a dream come true to be part of the same ownership group. This is an incredible opportunity to represent the spirit of excellence and winning that Fenway Sports Group embodies, and to play with some of the golfers I have admired throughout my career.”

TGL (presented by SoFi) is a new golf league offering a fresh approach to the sport with a focus on technology, innovation, and fan engagement. The new league will feature the world’s top players in a two-hour, team golf competition that merges physical and virtual golf airing in primetime and beginning January 9, 2024 on ESPN. The Boston Common Golf team will play in five regular season matches against the other TGL teams, followed by a four-team postseason, with a semi-final and finals series. SoFi Center, a custom-built venue in Palm Beach, Florida, will combine a data-rich virtual course with a state-of-the-art short game complex creating a unique experience for fans in the stands as well as those watching around the world.

USA Basketball, Fox Sports Cut TV Deal

by

COLORADO SPRINGS – (Staff Report from Official News Release) – USA Basketball and FOX Sports signed a multi-year agreement that will tip off Aug. 7 when the USA Basketball Men’s National Team faces the Puerto Rican National Team live from Las Vegas’ T-Mobile Arena at 10 p.m. ET on FS1. Play-by-play announcer Adam Amin will be on the call alongside Emmy Award-winning analyst Bill Raftery.

Embed from Getty Images

FOX Sports will distribute the 2023 USA Basketball Showcase, which includes five USA Basketball Men’s National Team exhibitions in advance of the 2023 FIBA Men’s World Cup, as part of a larger agreement that includes the 2024 USA Basketball Showcase and 2024 Nike Hoop Summit.

The USA Basketball Showcase features a series of events that help the USA Basketball Men’s and Women’s National Teams prepare for major competitions, including the 2023 FIBA Basketball World Cup (men) and 2024 Olympic Summer Games.

“The USA Basketball Showcase features our national teams preparing for the FIBA Basketball World Cup in 2023 and the Paris Games in 2024,” said said Jim Tooley, CEO, USA Basketball. “In addition, the Nike Hoop Summit annually brings together our top young basketball talent for both men and women to compete against international all-star teams comprised of athletes from all over the world.”

USA vs. Puerto Rico caps a weeklong training camp that sees the USA begin its march to the 2023 FIBA World Cup, set for Aug. 25-Sept. 10 in the Philippines, Japan and Indonesia. Led by head coach Steve Kerr (Golden State Warriors), the USA Men’s National Team features several NBA award winners and honorees.

The USA Basketball Showcase continues in Malaga, Spain, when the United States faces the national teams of Slovenia and Spain in friendlies on Aug. 12 and Aug. 13, respectively. Both games will tip off at 3:30 p.m. ET with USA vs. Slovenia airing on FS1 and USA vs. Spain on FOX with Raftery providing analysis alongside play-by-play announcer Kevin Kugler.

Finally, the USA travels to Abu Dhabi for a final training stop before arriving in Manila for the World Cup. The USA will host the national teams of Greece on Aug. 18 on FS1 followed by Germany on Aug. 20 on FOX, with both tipping off at noon ET. Additionally, FS1 will broadcast the game between Germany and Greece on Aug. 19 at noon ET. Play-by-play announcer Jason Benetti pairs with Raftery for both games.

SlamBall Addresses Health and Safety

by

IN CASE THEY GET SLAMMED: SlamBall is coming! SlamBall is coming! The teams have been stocked with big-time athletes and bruisers and they are going to be risking life and limb. No joke. To that end, the league has worked diligently on its health and safety protocol program for the coming 2023 SlamBall League: Series Six season, which begins July 21 at Cox Pavilion in Las Vegas. … The protocols are designed to make sure all athletes are receiving the best proactive health and wellness care and prevention without sacrificing any of their elite skills.

“We are a legitimate sport first and foremost, and the health and safety of our exemplary athletes is priority one,” said Mason Gordon, SlamBall co-founder. “Having been in and around SlamBall since its inception, our leadership team knows the risks and the challenges these athletes are dealing with every minute they are on the court.e are proud to have been able to address the concerns and challenges of such a high flying, action packed sport by making sure we have the right protocols and best practices in place. This makes sure that our sport is beyond reproach for anyone participating or watching as we head toward the launch on July 21.”

  • All players protective equipment include: Elbow pads, knee pads, padded combat shirt, ankleroll guards/ankle braces, and custom padded and fitted head gear.
  • In the event of a blow to the head SlamBall’s on-site certified athletic training team will put players through an extensive concussion evaluation protocol. Without exception, players must be medically cleared before returning to play or practice.
  • Players must undergo daily health and safety screenings with trained medical personnel. Injury status is updated daily and shared with coaches and executives.
  • Timeouts for any injury during play will be at the discretion of the medical staff once the officials have stopped play. Players can return only when cleared by the SlamBall medical team.
  • In addition to the 7-man roster, there are four players on a taxi squad who are available to any team needing to add a player due to injury. A coach may also elect to keep a player from the taxi squad in this situation and assign a different player to IR as he rehabs and returns to health. The safety of active players remains the priority, with the rosters adjusting for athletes that are cleared and able to play.
  • No athletes will be able to participate in practice or games unless cleared by the medical team.
  • Updates on injuries will be provided to fans/media during the regular season as needed and as approved by medical personnel and in accordance with HIPAA rules.

SLAM TV: Opening Night for the return of SlamBall is Friday, July 21, at 7pm ET and it will be broadcast exclusively on ESPN. The broadcast will include three games, beginning with Rumble vs. Mob and continuing with Slashers vs. Lava, and concluding with a showdown between the winners of each match. ESPN+ will air the entire season of games beyond those on ESPN and ESPN2. The season culminates with the SlamBall Championship Game on Thursday, August 17, at 11pm ET on ESPN2.

PGA Tour Officials Testify Before Senate

by

No Merger Deal is Done, According to PGA Tour Officials

WASH DC – (Staff and Wire Service Report) – PGA Tour officials painted a bleak outlook during a contentious Senate hearing Tuesday, sharing they felt no other choice was left but to merge with Saudi-backed LIV Golf in order for the tour to survive.

Embed from Getty Images

“The PGA Tour is not that big in terms of players,” PGA Tour board member Jimmy Dunne said during sworn testimony Tuesday before the U.S. Senate Permanent Subcommittee on Investigations in Washington, D.C. “If (LIV) takes five players a year, in five years they can gut us. They’ve got a management team that wants to destroy the Tour. And even though (LIV) could take five or six players a year, they have an unlimited horizon and an unlimited amount of money.

“So it isn’t like the (LIV) product is better. It’s just that there’s a lot more money that will make people move.”

Several Senators cited accusations of Saudi Arabia’s human rights abuses as reason to question the May 30 framework agreement between the PGA Tour and LIV Golf.

“Today’s hearing is about much more than the game of golf,” Senator Richard Blumenthal said. “It’s about how a brutal, repressive regime can buy influence, and indeed even take over a cherished American institution to cleanse its public image.”

Dunne and Ron Price, the chief operating officer of the PGA Tour, testified on behalf of the tour with CEO Jay Monahan on medical leave. They said the framework of the planned merger is the best opportunity to allow the PGA Tour to continue to have some degree of control over the sport despite the Public Investment Fund (PIF) of Saudi Arabia’s involvement.

When pressed on the details of the financial involvement of the Saudis, Price said, “There’s been discussions. It would be a significant amount. North of $1 billion.”

Along with other Senators, Blumenthal offered harsh criticism of the financial aspects of the decision to merge.

“There is something that stinks about this path that you’re on right now,” Blumenthal said, “because it is a surrender, and it is all about the money and that’s the reason for the backlash that you see.”

Blumenthal asked Price what his options are if the PGA Tour doesn’t execute the merger with LIV Golf.

“We would still be facing a real threat that LIV Golf would continue to recruit our top players,” Price said.

Blumenthal responded, “These players that stood by you are heroes.”

Dunne testified that he shares some of the concerns Blumenthal raised in the hearing.

“I really understand Sen. Blumenthal’s concern about having them take over,” Dunne said. “…I’m concerned with what the senator is worried about. But I’m concerned if we do nothing, we’re going to end up there, they’re going to end up owning golf. They can do it.”

The proposed merger could face blockage from the Justice Department, which has been investigating the PGA Tour for its attempt to keep its players from leaving for LIV, as well as a review by the Committee on Foreign Investment in the United States, a Treasury-led committee that assesses mergers for national security purposes.

Price and Dunne stressed during Tuesday’s hearing that final details of the merger are undetermined.

NBA: Silver Opines on Wealth Funds

by

LAS VEGAS – (Staff and Wire Service Report) – With sovereign wealth funds starting to shovel money into sports teams and leagues across the country, NBA commissioner Adam Silver said Monday that he does not see any state-owned investment groups becoming the controlling owner of an NBA franchise anytime soon.

Embed from Getty Images

Per the NBA’s investment rules, the controlling owner of an NBA franchise must own at least 15 percent of the franchise.

If a sovereign wealth fund wants to get involved, it must have a passive investment in the organization that is worth no more than five percent. A prime example of this is the Qatar sovereign wealth fund, which last month agreed to purchase a five-percent stake in Monumental Sports and Entertainment, the controlling owner of the Washington Wizards, the WNBA’s Washington Mystics and the NHL’s Washington Capitals.

Silver wants to make sure that individuals are the ones that are primarily governing teams, though.

“I don’t want to say what could ever happen, but there’s no contemplation right now,” Silver said in Las Vegas. “I mean, it’s very important to us, putting aside sovereign wealth funds that individuals are in a position to control our teams, be responsible to the fans, be responsible to their partners and to the players.

“It’s very important to us that there be a person (in charge), and this is independent of sovereign wealth funds. I think that in terms of the connection with the community, the connection with the players and their other partners in the league.”

One of the most notable sovereign wealth funds as it relates to the sports is Saudi Arabia’s Public Investment Fund, which funds LIV Golf. The PGA Tour created shockwaves across the golf world last month when it announced it planned to enter a merger with LIV.

–Field Level Media

New Pro Hockey League for Women

by

LOS ANGELES – (Staff Report from Official News Release) – A new professional hockey league, featuring the world’s best women’s players, will launch in January 2024.

Embed from Getty Images

The new league was announced today by business and philanthropic leaders Mark and Kimbra Walter, sports icon Billie Jean King, and Premier Hockey Federation (PHF) Governors Johanna and John Boynton. The league will be supported financially by the Walters and led by board members including King, sports executive Ilana Kloss, and Los Angeles Dodgers President Stan Kasten.

The new league has acquired assets of the PHF and has spent months negotiating a collective bargaining agreement with the Professional Women’s Hockey Players Association (PWHPA). These actions will enable the new league to move forward in unprecedented ways. The new league will undertake a thorough and equitable process to ensure that it features the best women’s hockey players in the world.

“I have always believed that professional sports should bring the highest levels of performance and organization, and this new league will have the backing and resources it needs to represent the very best of women’s hockey,” said Mark Walter, who is the controlling owner of the Dodgers and the WNBA’s Los Angeles Sparks, co-general partner of the ownership group of the Premier League’s Chelsea Football Club and holder of a significant interest in the NBA’s Los Angeles Lakers.

“This is an extraordinary opportunity to advance women’s sports,” said King. “I have no doubt that this league can capture the imagination of fans and a new generation of players. I want to thank Mark and Kimbra Walter for their vision and commitment to investing in women’s sports.”

“This is another step forward for the women who play professional hockey and the girls who dream of it every day,” Johanna Boynton said. “The PHF has been a game-changer and catalyst for growth in the women’s professional game. Today’s announcement builds on this foundation, represents a shared vision for one new league, and reaffirms our belief that collective and collaborative leadership is in the best interest of women’s professional hockey.”

“I celebrate this transformational moment for women’s professional hockey,” said Kasten, who represented the Walters in both transactions. “I thank Jayna Hefford, Kendall Coyne Schofield and the PWHPA player bargaining committee, Johanna and John Boynton and their partners at the PHF, and PHF Commissioner Reagan Carey for their essential roles in this historic accomplishment.”

“This new league will be unlike anything we have seen in women’s hockey,” said Honoured Member of the Hockey Hall of Fame and PWHPA lead, Jayna Hefford. “I am inspired by this generation of players who are redefining the sport. We will create dreams and opportunities for girls and women around the world for decades to come.”

“I am extremely proud of our PWHPA group, which has remained committed to our vision and steadfast in our efforts to change the landscape of women’s professional hockey forever,” said Coyne Schofield. “Over the past four years, we have worked tirelessly to close the gap on what young girls and boys could dream to become in this sport.”

“This effort is the most significant development in our game since women’s ice hockey became an Olympic sport 25 years ago,” said Carey. “Players, fans, past pioneers, and future generations deserve to see the best athletes come together to elevate professional women’s hockey as never before.”

CFP’s Hancock To Retire in 2025

by

IRVING, Texas – (Staff Report from Official News Release) – College Football Playoff Executive Director Bill Hancock announced that he will step down when his contract expires February 1, 2025.
Embed from Getty Images
“My time at the CFP has been a dream come true,” said Hancock, 72, who will be entering his 19th season working in post-season football this fall. “I cherish what I do and the folks I get to work with. And I do love college football. Now I will run through the tape, as the track coaches say, and then I will enjoy whatever next steps are waiting for (his wife) Nicki and me.”
Hancock was named executive director of the CFP a few months after the event was created in 2012. He was the only CFP employee at the time. The leaders of the 10 Football Bowl Subdivision conferences and Notre Dame directed him to finalize the details of a media rights agreement, negotiate agreements with bowl games and championship-game host cities, build a staff, find office space, contact members to serve on the selection committee, and draft protocol and procedures for the committee to use.
The result has been nine enormously successful years for the CFP so far.
The CFP is slated to expand from four to 12 teams after the 2023-24 season.
“The plan was established several years ago for me to notify the CFP Board of Managers a year in advance if I decided to step aside, in order to provide ample time to plan a smooth transition to the next executive director,” Hancock said.
“I’m advising the board now, so the new executive director will have a long on-ramp, as he or she prepares to guide the CFP into the 12-team era.”
“Everyone who is blessed to work with Bill knows he is a highly skilled administrator, strong leader and truly good person. He’s a legend in college sports,” said Mississippi State University President Mark E. Keenum, the chairman of the CFP Board of Managers. “We were sorry when Bill told us about his and Nicki’s decision, but we are so grateful for his service in getting the CFP started and carrying it through the first nine years—10 after next year.”
Hancock will remain in his current duties through the 2023-2024 season.

SlamBall is Back; ESPN OnBoard

by

ESPN Platforms to Carry More Than 30 Hours of Live Action in 2023, Starting Opening Night, July 21, from 7 to 9 p.m. ET on ESPN

LAS VEGAS/BRISTOL, Conn – (Staff Report from Official News Release) –

SlamBall is Back and ESPN – the worldwide leader in sports – is onboard for the ride, coming this July.

SlamBall, the fast-paced, gravity-defying sport that combines elements of basketball, football, hockey and trampolines, today announced an exclusive, two-year national broadcast partnership with ESPN for the 2023 and 2024 seasons.

The broadcasting partnership begins on Opening Night, as SlamBall relaunches live action from its home-base in Las Vegas on July 21 from 7-9 p.m. ET.  ESPN, ESPN2 and ESPN+ will combine to air more than 30 hours of live SlamBall programming across five weekends, culminating August 17-19 with the SlamBall Playoffs and SlamBall Championship Game.

All games will be played at Cox Pavilion in Las Vegas, with ticket sales beginning on June 27.

“ESPN’s multi-year commitment to SlamBall is further validation of the enormous appeal and growth potential of our sport,” said SlamBall creator and CEO Mason Gordon. “The level of interest in our hybrid team sport not just in the United States, but across the world, has been beyond our expectations for the 2023 season. It’s clear that this best talent we have had in the sport’s history.”

“Mason and I couldn’t help but respond to the #BringBackSlamBall clamor,” said SlamBall co-founder Mike Tollin. “Live sports dominate the airwaves these days and audiences are looking for the next big thing. It’s a thrill to collaborate with ESPN in bringing this ground-breaking sport back to the world.”

“SlamBall is a league that combines elements of some of our fans’ favorite sports, resulting in a unique game that’s sure to entertain viewers across ESPN’s platforms.” said Ashley O’Connor, Sr. Director, Programming & Acquisitions at ESPN.

The broadcast team, production details, and full broadcast schedule will be announced in the weeks to come.

SlamBall has a long-term partnership with global premium experiences company Legends to provide e-commerce and on-site event retail; global, data-driven partnership strategy and execution; and business intelligence with actionable insights to drive revenue across all areas of the league.

David Levy at Horizon Sports and Experiences is providing additional sponsorship sales support in the 2023 and 2024 seasons.

SlamBall recently closed an $11 million Series A round led by Roger Ehrenberg’s IA Sports Ventures and Eberg Capital (Owner and Advisory Board Member, Miami Marlins, Betr, Simplebet) with participation from strategic investors across sports, gaming, entertainment, and media.

Strategic investors include David Blitzer (Harris Blitzer Sports & Entertainment, Cleveland Guardians, Crystal Palace), David Adelman (76ers, NJ Devils), Michael Rubin (Fanatics), Gary Vaynerchuk (VaynerX, Major League Pickleball), and Blake Griffin (Boston Celtics power forward and six-time NBA All-Star).

Additional investors include: Kevin Nagle (Sacramento Kings), Lloyd Danzig (Sharp Alpha), Legends, Brian Lovell (Red Games), Jesse Sharf (Gibson Dunn), Accelerate Sports, and Eric Manlunas (Wavemaker Partners). Accelerate Sports provided investment banking services for the round.

Originally staged in 1999 by founders Mason Gordon and Mike Tollin, SlamBall is a one-of-a-kind sports and entertainment property with a rich history of success in the United States and in markets around the world.

It is a compelling hybrid combination of the best elements of basketball, football, and ice-hockey, infused with the essence of a video game come to life. The new, enhanced league, which includes partner Tom Penn, founder of LAFC, is set for its full comeback in the summer of 2023. Amid the current resurgence of interest in alternate sports, the hashtag #BringBackSlamBall has garnered more than 200 million views on social media, offering a powerful foundation of fandom for the sport’s revival.

For additional information, visit https://slamballleague.com/

PGA Tour & LIV Golf = Partners Forever?

by

Embed from Getty Images

By TERRY LYONS

BOSTON – From the perspective of a present day columnist and former PR practitioner there’s a problem when a press release – dropped out of thin air – has been written by the lawyers.

Yes, this week, the good folks at the PGA Tour and LIV Golf decided to drop a little news on the sports world. They did so with an early morning news release that was grabbed by CNBC News, questioned as to its validity by The Dan Patrick Show a few minutes after 9:00am on the morning of June 6, 2023. It was verified by this publication when the third source was the homepage of PGATour.com itself.

You’d have thought they were trying to bury the story in quick sand.

From this columnists’ viewpoint, the news release had these qualities, of lack thereof:

  1. It was a major story but dropped on the global media as if it were a minor story, ready to be put out with the trash.
  2. It created more questions than it provided answers.
  3. After it was issued, instead of one solid spokesperson (a la PGA Tour Commissioner Jay Monahan), it prompted conflicting commentary from a minimum of six people, including: PIF Governor Yasir Al-Rumayyan, players such as Phil Mickelson (LIV), Rory McIlroy (PGA Tour), and PGA TOUR Policy Board member Jimmy Dunne.
  4. Every player hitting golf balls at the Pro-Am and practice rounds at the RBC Canadian Open was thrust into a barrage of questions – most Tour members left not knowing exactly what was going down.
  5. LIV Golf Commissioner Greg Norman was apparently “caught by surprise” and unavailable.
  6. The news release ended with a paragraph that said nothing and everything about the announcement. It read: “All parties will work in the months to come to finalize terms of the agreement, with details to be announced in due course.”

Ya think?

Here are just a few storylines created – including business reporters digging into the Tour’s longtime structure and Congress diving into the study as well – as the story advanced and more and more people felt the need to comment:

  1. Saudi Arabia’s Public Investment Fund which oversees LIV Golf and dozens of investments in sports and acquiring talent to play in Saudi-based sports interests will potentially invest in the PGA Tour as an exclusive investor. The PGA Tour is currently registered as a charity with separate business arms. The Tour has four related 501(c)(3) organizations—PGA Tour Charitable & Education Fund, PGA Tour Charities Inc, PGA Tour Employees Emergency Relief Fund and Pro Caddies Assistance Foundation—whose assets cannot be transferred to any for-profit entity.
  2. According to Laura Neal, Senior Vice President of the PGA Tour, as told to “InsideSources” that the PGA Tour organization “is a membership-based nonprofit” that complies with IRS rules, including making large charitable donations. A securities industry executive called the Tour a walking contradiction as its core business is registered with the IRS as a ‘business league’ but operates under nonprofit status. As has been reported over the years, that status allows the PGA to avoid hundreds of millions in taxes over the last few decades as its stages tournaments in locales where volunteers help stage the tournament and a significant dollar amount is targeted towards local charities in the city of each tournament. That has resulted in the PGA Tour donating some $3.64 billion to charity. (Way back in 2013, Forbes examined the PGA Tour structure – (link)
  3. It was said – prominently in the “news” release that “separately, PGA TOUR Inc. will remain in place as a 501(c)(6) tax exempt organization and retains administrative oversight of events for those assets contributed by the PGA TOUR, including the sanctioning of events, the administration of the competition and rules, as well as all other “inside the ropes” responsibilities, with Jay Monahan as Commissioner and Ed Herlihy as PGA TOUR Policy Board Chairman. PIF’s Governor Yasir Al-Rumayyan will join the PGA TOUR Policy Board. The DP World Tour and LIV Golf will retain similar administrative oversight of events on their respective Tours.”
  4. It was said a few days after the “news” broke that “the loyal” PGA Tour players would “get equity” in the new structure. Seemingly, that would be a “make-good” for the loyal players who turned down the tens of millions and multi-million offers to jump ship and play a year of 54 (LIV) golf.
  5. The Wall Street Journal and other media outlets, it was said that the PGA Tour claimed “it could not afford to keep battling the billions of dollars PIF could place behind LIV Golf and its continuing efforts to lure more players to the renegade tour.
  6. Commissioner Monahan reportedly told employees of the Tour that they “were outmatched” by the Saudi investments.
  7. On Friday, PGA Tour honcho Jimmy Dunne felt it necessary to explain some of the intricacies of the new deal to ESPN.com, stating, “The new [company] would grow, and the [current PGA Tour] players would get a piece of equity that would enhance and increase in value as time went on,” Dunne said. “There would have to be some kind of formulaic decision on how to do that. It would be a process to determine what would be a fair mechanism that would be really beneficial to our players.”
  8. Other players started getting into the act, most notably Bryson DeChambeau said, “I do feel bad for the PGA Tour players because they were told one thing and something else happened. On our side, we were told one thing and it’s come to fruition.” DeChambeau went on to address the deepest of issues in the relationship of the sport of golf to the 9/11 Families United, stating to CNN’s Caitlin Collins in a live, two-way interview, “I think we’ll never be able to repay the families back for what exactly happened just over 20 years ago and what happened is definitely horrible,” said DeChambeau. “I think as time has gone on, 20 years has (sic) passed, we’re in a place now where it’s time to start trying to work together to make things better together as a whole. I don’t know exactly what they’re feeling. I can’t ever know what they feel, but I have a huge amount of respect for their position and what they believe. Nor do I ever want anything like that to ever occur again. I think as we move forward from that, we have to look toward the pathway to peace and forgiveness, especially if we’re trying to mend the world and make it a better place. I think this is what they’re trying to accomplish, LIV is trying to accomplish, PIF is trying to accomplish. We’re all trying to accomplish a better world for everybody with entertainment for everybody around the world.
  9. DeChambeau was asked by Collins about human rights violations and the CIA verified killing of journalist Jamal Khashoggi in Istanbul, an act that Saudi Crown Prince Mohammed bin Salman ordered for assassination of the provocative and critical journalist. “It’s unfortunate what has happened and something I can’t necessarily speak on. I’m a golfer,” DeChambeau added. “But what I can say is that what they’re trying to do, what they’re trying to work on is to be better allies because we are allies with them. I’m not going to get into politics, I’m not specialized in that. What I can say is they’re trying to do good for the world and showcase themselves in a light that hasn’t been seen in a while. Nobody’s perfect, but we’re all trying to improve in life,” said the man who pocketed $150 million in a signing bonus to play LIV Golf.
  10. Said Vox’ Jonathan Guyer on the overall impact and resulting aspect of the (PGA Tour claims not to call it a) merger: “The golf course is perhaps not the arena that immediately comes to mind when you’re thinking about geopolitics. But with one proposed golf business deal, Saudi Crown Prince Mohammed bin Salman, known as MBS, just hit the geopolitical equivalent of a hole-in-one.”

And, so, the story goes.

See you at next week’s U.S. Open in Los Angeles where there will be more than 100 new spokespeople for the continuing saga of “How the PGA Tour & LIV Worlds Turn.” Surely, the USGA is thrilled with the consequences of staging a major 10 days after the world of professional golf was turned inside out, upside down and sideways without any clear path made public.

After all, nobody’s perfect, right?