Report: LIV Golf backers setting up compensation fund for PGA Tour loyalists
Tiger Woods, Rory McIlroy, Jon Rahm and other PGA Tour stars are reportedly set to receive millions of dollars with LIV Golf compensation fund.
Rory McIlroy, Jon Rahm, Tiger Woods and more PGA Tour loyalists will be receiving millions of dollars as LIV Golf's Saudi investors are organising a compensation fund, according to a report.
Per The Times of London, it is said the Saudis want to reward those who stayed loyal to the PGA Tour and rejected their mind-boggling offers.
The news comes a week after PGA Tour commissioner Jay Monahan announced a 'landmark agreement' to 'unify the game of men's professional golf' by partnering with LIV's financiers, the PIF of Saudi Arabia.
Related: Lowry says he prevented a PGA Tour strike
That stunning move will see the PIF partnering with the PGA Tour and DP World Tour. The proposal is to create a new, for-profit venture with Monahan acting as the chief executive and Saudi businessman Yasir al-Rumayyan as the chairman.
There are a number of questions about it and the 'deal' is already under scrutiny by US lawmakers.
Monahan has now stepped away from his day-to-day duties over what has been described as a 'medical issue'.
He faced a barrage of criticism from some PGA Tour members and golf fans. McIlroy, despite acknowledging the hypocrisy from the chief executive, insisted that he still supports Monahan.
According to FirePit Collective reporter Alan Shipnuck, Monahan is said to be 'recovering well' and eager to get back to work.
Elsewhere according to the report, it is said LIV Golf will be 'phased out' by the end of this year and replaced with a much smaller 'team event structure'.
Norman has insisted that he was told from the top that LIV Golf will continue over the next few years.
A source is said to have told the paper:
McIlroy has previously been quoted as saying he believes players should be compensated.
"The simple answer is yes," said McIlroy, before adding: "The complex answer is, how does that happen?"
Let's take a look at some of the offers PGA Tour players have rejected:
- LIV Golf offer: $700-800m
- LIV Golf offer: $400m
- LIV Golf offer: $400m
- LIV Golf offer: $125-150m
- LIV Golf offer: $100-125m
- LIV Golf offer: $100-125m
- LIV Golf offer: $100-125m
- LIV Golf offer: $100m
- LIV Golf offer: $100m
- LIV Golf offer: $100m
Take a look at this more in-depth report GolfMagic have already written
Watched our latest YouTube video?
Ben joined the GolfMagic team in September 2021, initially as a content executive.
These days, he assumes the position of content manager.
