A detailed update on the ongoing negotiations between the PGA Tour and the Saudi backers of LIV Golf has been given by Davis Love III.
Davis Love III, a multiple PGA Tour winner, has called the current state of affairs “bizarre” and stated that negotiations to ratify the framework agreement with LIV Golf’s backers are not moving very quickly.
The PGA Tour veteran told Adam Schupak of Golfweek that he didn’t see “any way” that a deal could be reached before the deadline of December 31.
Reports from sources on both sides seem to be growing less hopeful that the once fierce rivals can come to a compromise.
Love said to the publication that the Tour was compelled to “look at what has been going on for 53 years” because of the creation of LIV.
“And think about what the next 50 years will look like,” he told the publication.
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One of the most vocal opponents of the rival league, Love once even suggested that players go on strike in response to three LIV players attempting to use the courts as a means of gaining entry into the FedEx Cup playoffs in August of last year.
“I told some of them this right from the start,” he remarked. Although I don’t dislike you personally, I disagree with what’s going on and believe you’re making a poor business choice.
One of the most vocal opponents of the rival league, Love once even suggested that players go on strike in response to three LIV players attempting to use the courts as a means of gaining entry into the FedEx Cup playoffs in August of last year.
“I told some of them this right from the start,” he remarked. Although I don’t dislike you personally, I disagree with what’s going on and believe you’re making a poor business choice.
“Jay [Monahan, PGA Tour commissioner] tried to explain it to these guys, you are signing with our competitor and giving our competitor leverage that is going to hurt our ability to make decisions and hurt our financial position.
“You don’t really understand that it is not just playing in this golf tournament versus that one. I’m still against the fact that this is a hostile takeover.
“These guys signed with a company that is trying to take us over. If a bunch of guys left Pepsi and went over to Coke and tried to take over Pepsi would you ever let them come back to Pepsi? I don’t think so. It may not be a perfect comparison but they sued us to make us change our rules so they could get what they wanted.”
Love said the situation with LIV goes beyond whether or not the rival tour gets world ranking points.
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He continued: “We might have screwed up the last three years, now how do we set up the PGA Tour for the future? Is there a different model? We’re independent contractors, maybe we’re not independent contractors?
“The lawsuits are dropped; now what do we want to do, what does [the PIF] want to do? Do they really want to keep blowing that much money on LIV? Probably not.”
So what is the problem? Why aren’t the talks progressing?
He continued: “It’s just like the lawsuit: we’re never going to go to trial if they don’t ever do discovery. Our staff and players did discovery. They refused.
“We made an offer and if you don’t ever communicate, we can’t make another offer. It’s bizarre what’s going on. It’s a long way from anything. The sharks are circling. Now everyone wants to invest in the PGA Tour.”
Love’s references to the ‘sharks circling’ is clearly a nod to the fact the PGA Tour reportedly have multiple entities lined up and ready to invest.
According to their president Mark Shapiro, Endeavour, which is estimated to be worth $10 billion, recently had a sizable investment offer rejected.
Love went on: “The lovely thing is that we don’t need money.” “You may think you’re in a mess, but I buy distressed companies and try to fix them to make money,” said a very astute businessperson. You make a lot of money, and your company is doing well. The current state of affairs is ideal. You’re only attempting to improve it. You’re in a really good place.
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