#14 LIV/PGA Update December 1 to 31, 2023

#14 LIV/PGA Update December 1 to 31, 2023

This is my final blog of 2023.  I thank everyone for making my 1st year a success. The 2024 season will start with The Sentry Tournament Jan 4-7 2024 with a new format. If you like the blog please subscribe or email me at my business email ogolfit@yahoo.com

ITEM #22 It is rumored that Brian Harman, Wyndham Clark, Adam Scott, Tony Finau, Jason Day, Tommy Fleetwood, Sepp Streka, Scottie Scheffler, Viktor Hovland, Russ Henley, Cameron Davis are heading to LIV in the next 3 weeks.  I hope none do!!!

The defection of Jon Rahm (see Dec 9 #12) was a huge blow to the PGA’s chances of getting what they want in the future agreement, if there is one.  It also puts in jeopardy the future of the PGA as we know it, especially if all or some of the above names go to LIV.

I have stated many times that I am not anti LIV and that their spending has been a financial benefit for professional golfers.  But their long term goals, excessive spending, and the LIV format put into doubt the longevity of TV appeal and attendance at PGA non major tournaments.  The majors should not suffer, but other tournaments especially non signature events and the fall season are bound to suffer.

ITEM #23 Recently according to Good Good Podcast, Bryson DeChambeau is quoted “In the end, when all is said about LIV and done, five years form now LIV is going to exist.”  “LIV is going to be a dominant force.  I don’t know what the landscape will look like or if it will even be called LIV, but I can say the it will be here.  Team golf will be here to stay”.  Except for Ryder Cup and to some extent Presidents Cup I have no interest in Team Golf.  I think that most golf fans and viewers agree, but I have a feeling that LIV players are sold on the concept and some other players seem interested in the team concept as a part of professional golfs future.  

ITEM #24 Farmers Insurance will end their sponsorship of the Torrey Pines tournament which will be played Jan 24-27, 2024.  They canceled 200 rooms at “The Lodge at Torrey Pines” which in the past had been reserved for their guest.  This follows Wells Fargo ending its sponsorship of the PGA event after this year (see Dec 8 in blog #12).  That makes 3 companies who have dropped their sponsorship.  Last year Honda announced they would no longer sponsor The Honda Classic (see pages 15&16(31) Feb 23-26, 2023).   

ITEM #25 The PGA is also negotiating with Strategic Sports Group, a collection of U.S. sports investors spearheaded by Fenway Sports Group, Arthur Blank, Gerry Cardinale, Mark Attansio, Cohen Private Ventures, Endeavor and Arcon Growth Company.  ESPN reports that  SSG will infuse more that $3B and PIF will up their total to $7B.  The PGA Tour would remain majority ownership and PGA and DP World players should receive an equity share.  Nothing has been revealed as to how tournaments will be structured, who plays, what will be the format, and the amount of $ for tournament purses.  While both LIV and PGA schedules have been set, everything may change when an agreement is finally reached. 

ITEM #26 First PGA tournament of 2024 The Sentry Jan 4-7 2024.

Dec 27 Current champion Jon Rahm will not be permitted to defend his championship.  Many superstars have been confirmed but Rory McIlroy has said he is not a huge Hawaii guy and his first PGA tournament will be at Pebble Beach.  He skipped the tournament last year.  The field will be limited to 60 players with no cut.  Purse will be $20M , up from $15M last year and $8.2M in 2022. 

ITEM #27 

Dec 28 According to “The Telegraph” the 2 parties have agreed to extend their negotiation deadline until April 2024, hoping to have an agreement by the Masters.  The goal is to combine commercial operations under a new for profit entity dubbed PGA Enterprises.