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Commissioner Jay Monahan told PGA Tour employees during a meeting Thursday that it couldn't financially afford to keep spending tens of millions of dollars in its legal fight against Saudi Arabia's Public Investment Fund while continuing to increase its own purses to keep players from defecting to the rival LIV Golf League, according to a report Saturday by the Wall Street Journal.
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NEW YORK: Golfers who stayed loyal to the US PGA Tour, but not those who jumped to LIV Golf, will receive equity shares in a new for-profit entity, ESPN reported on Friday (Jun 9).
The PGA Tour could not afford to conduct a lengthy spending war against Saudi Arabia, the Wall Street Journal reported on Saturday, citing a person who heard the remarks by PGA Tour commissioner Jay Monahan.
Golfers who remained loyal to the PGA Tour — but not those who left for the LIV Golf League — would receive equity shares in the new for-profit enterprise being formed by the PGA Tour, DP World Tour and Saudi Arabia's Public Investment Fund, Jimmy Dunne told ESPN on Friday.
Fox News' William La Jeunesse has the latest on the future of national golf on 'Special Report.'
Padraig Harrington says the fact that PGA Tour Commissioner Jay Monahan has backtracked on his stance regarding Saudi Arabia involvement in the 9/11 attacks highlights the perilous state the organisation was in before this week's shock merger with LIV.
Fox News Flash top sports headlines are here. Check out what's clicking on Foxnews.com.