The golf world is gearing up for this week’s PGA Tour event, the Wells Fargo Championship. However, a recent off-course matter relating to the Premiere Golf League has stolen the limelight and attention of fans worldwide. The PGL has sent a letter to the Tour professionals asking for two precise demands.
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PGA Tour gets an interesting letter from the PGL
The new golf tour, which mentions that it is not connected with the Saudi-backed golf league on its website, wrote a letter to the Tour players on May 5th. Moreover, the extensive letter also claims that the PGL can generate a $10 billion value and assures that the professional will retain 50 percent of that value.
Read more: Saudi-backed LIV Golf Invitational Series 2022 Schedule: Dates, Venue, and Prize Money
Moreover, their communication with professionals broadly had two main requests. Firstly, in their “Call to action” for the professionals; asking for an audience with the PGA Tour’s Policy Board. The board comprises four tour pros, Rory Mcilory, Kevin Kisner, James Hahn, Charlie Hofman, and six independent directors. Furthermore, the PGL claims that the Tour should share the letter with its voting members.
The second point mentioned in the letter asks for an independent valuation. One of the reasons for asking the same is because of a study done by Allen & Co. that disputed PGL’s ability to generate $10 billion by 2030. Moreover, the communication also mentions that professionals will not require a release from the Tour to play on the PGL. At the same time, it will cease to exist under the umbrella of the PGA Tour. Its vision is to counter the Saudi-backed golf league.
The PGL just sent a letter to PGA Tour pros outlining golf’s "historic crossroads":
A. “Own 50% of the PGL and make ~$20MM each
B. “Do nothing and leave LIV to generate that value”The letter also calls for an independent valuation of its proposal.
More to come shortly… pic.twitter.com/zZnenvlRlL
— Dylan Dethier (@dylan_dethier) May 4, 2022
PGL’s enticing letter leaves the Tour professionals with two choices. One choice is that they own 50 percent of the PGL and make $20MM with a $2 million payment made in cash upfront and a $1 billion value distributed between the members of DP World Tour and the Korn Ferry Tour.
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At the same time, the other choice suggests that they do nothing and let the LIV generate the value. While the two oldest tours contemplate a full merger that would serve neither membership. However, only time will tell if the Tour agrees’ to PGL’s request and discuss on the prospective the other tour as given to them.
Phil Mickelson asks for a release from the Tour
The 46-year-old professional has asked for a release to play in the opening event of the SGL in June. According to a report by the Telegraph, Lefty has signed an agreement to play all the eight events on the rival tour. At the same time, he has also received $30 million upfront. He has to either play all the events or return the amount with some penalty. Kevin Na and Ian Poulter have also asked for the same. Do you think they will play?
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What do you think about PGL’s letter? Share your views in the comment section.