This weekend was filled with sports activities motion. On high of the soccer docket, Mike Tyson returned to the ring 15 years after his final battle. Charles Barkley and Phil Mickelson defeated Peyton Manning and Stephen Curry in “The Match,” a charity golf outing.
And that wasn’t the one golf information on faucet. On Friday, the PGA Tour struck a landmark strategic alliance with the European Tour.
Quick Regroup For The Non-Golfers
The PGA Tour is the premier world golf group. It’s bought the largest tournaments, heftiest purses and attracts the highest golf expertise from all over the world:
- Of the 20 Europeans among the many high 75 golfers on the earth, solely 4 aren’t members of the PGA Tour.
- This yr, the common PGA Tour purse will probably be roughly $7 million. By distinction, on the European Tour the purse hardly ever exceeds $1 million.
The Deal Specifics: Remain imprecise. The PGA Tour can have a minority stake within the European Tour’s media manufacturing firm. The two excursions can even “explore collaboration and work together on strategic commercial opportunities including collaborating on global media rights in certain territories.”
What Else To Know
This wasn’t the one deal on the desk.
Negotiations have been reportedly difficult by a rival proposal submitted to the European Tour by the Raine Group, a personal fairness agency that has fronted a proposed league referred to as the “Premier Golf League.” The PGL, for brief, would host “highly-lucrative,” limited-field tournaments with a crew ingredient.
But the proposed tour was dealt a blow in March when Rory McIlroy, Jon Rahm and Brooks Koepka — on the time the highest three ranked gamers on the earth — all publicly rejected the PGL. McIlroy mentioned he objected to its supply of financing, which was an funding fund managed by Saudi Arabia.
The Takeaway: Commentators count on the deal to put the groundwork for a extra built-in world golf neighborhood. Post pandemic, that’s.