Report: PGA Tour chief reveals $75m (!) legal bill in tense LIV Golf/PIF meeting
Per a report by the Wall Street Journal, Jay Monahan held a tense 30-minute meeting with his staff to explain the PGA Tour deal with LIV Golf's backers.
PGA Tour commissioner Jay Monahan reportedly addressed Saudi Arabia's human rights concerns - even highlighting his own daughters - and the legal cost to the North American circuit during a meeting with his staff about why he chose to partner with LIV Golf's backers.
Per a report by the Wall Street Journal, Monahan is said to have spent 30 minutes addressing concerns from his employees after the shock design to create a new for-profit entity with the kingdom's vast wealth fund, PIF, which is estimated to have more than $600bn in assets.
Monahan previously stated the tour 'couldn't compete in dollar bills' in his famous 'legacy, not leverage' speech as he rallied against LIV Golf but was reportedly worried about the money running out completely.
Related: The huge (rejected) LIV Golf offers!
He previously confirmed the tour was 'using our reserves' to increase prize purses across the board in a series of designated events but has watched a number of the top stars jump across to LIV.
Asked how he would explain the deal to his daughters, Monahan reportedly said he had those concerns himself but circumstances forced him to 'think about all of our players...think about everybody in this room.'
Other revelations in the report include:
- The PGA Tour has so far spent approximately $50m in legal fees (and is expected to increase)
- The DP World Tour has so far spent $15m in legal fees
In a statement to the publication, the PGA Tour said:
Related: Tour exec says Monahan will survive deal
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