DP World Tour pro rages at PGA Tour-SSG deal: "The boys club again"
DP World Tour pro Pablo Larrazabal didn't appear too pleased after the PGA Tour announced a history-making deal with Strategic Sports Group.
DP World Tour pro Pablo Larrazabal was one of several European touring professionals who questioned the PGA Tour's landmark deal with Strategic Sports Group.
On 31 January, the North American circuit announced the tour had agreed a private equity deal worth around $3bn with SSG.
As a result, golfers who have remained loyal to the tour and rejected the advances of the Saudi Arabia-backed LIV Golf are set to receive a whopping $1.5bn in immediate and future equity.
SSG is a group of US-based investors led by Fenway Sports Group, which also own Liverpool FC and the Boston Red Sox.
The group are investing in PGA Tour Enterprises, a newly formed for-profit company which will run in parallel with the tax-exempt PGA Tour.
PGA Tour commissioner Jay Monahan has hailed the agreement as a momentous occasion. Talks to conclude the deal have been ongoing for months.
PGA Tour player directors Patrick Cantlay, Peter Malnati, Adam Scott, Webb Simpson, Jordan Spieth and Tiger Woods also stated they were 'proud' to get the deal over the line.
As of yet Saudi Arabia's Public Investment Fund, which backs LIV, are not involved but Monahan stated there is an opportunity for the vast sovereign wealth fund to come on board down the line as minority investors.
Should that happen, it would surely bring an end to the hostilities that have dogged men's professional golf since June 2022.
Of course, all of the above has led to questions as to what benefits DP World Tour players will have.
The aforementioned Larrazabal posted on X: "We can confirm that a deal between the PGA Tour and the Strategic Sports group is done.
"But where is the DP World tour is in the deal? Is it beneficial to us? What is going to do to us? Well, we will see, I hope."
He added:
The boys club deal again.
— Pablo Larrazabal (@plarrazabal) January 31, 2024
Fellow European pro Richard Mansell also posted:
Anddddddd where do we stand in all of this?! https://t.co/cFLwsn51aT
— RICHARD MANSELL (@richardmansel14) January 31, 2024
Whilst Robert MacIntyre added:
Seeing all this chat about a deal being made. If the PIF aren't involved in the PGA deal then the DP world tour have to make some sort of deal with them.
Only way to make the game move forward is for them to be involved— Robert MacIntyre (@robert1lefty) January 31, 2024
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