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OT: Saudi Golf League

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Knightmoves

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Interesting comments from Greg Norman today. They had plenty of Top 50 Tour players signed up until Phil made his unfortunate comments. Now they have mostly all dropped out and both the PGA Tour and Euro Tour will suspend players if they participate in certain tournaments.

Phil is signed up to play in all Saudi tournaments this season, although he plans to play in the PGA and US Open in the US. OTOH the competition is so watered down that Phil may be a huge money winner on this tour. Lots of questions and drama going into the initial June 9th tourney in London.

Phil may have torpedoed this league and his own PGA Tour legacy with those comments.

www.espn.com

Norman: Top golfers bolted after Phil comments

Greg Norman says many committed golfers, some ranked in the world's top 50, backed out of the upstart LIV Golf league after Phil Mickelson's controversial comments about the PGA Tour and Saudi Arabia.
www.espn.com www.espn.com
 
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Our very own @Gimmy covered the Phil/Saudi debacle for his media company. While his article was mostly a Zzzzzz guys like @RU Cheese seemed to eat it up
 
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This is going to be such an absolute shit show at the start -- but there's so much blood money behind it that you can't dance on the grave too quickly because they're going to be willing to funnel money into this thing for a few years.

They allegedly tee off in less than 40 days and have virtually no one committed to it, no media partners to cover it, and high ticket prices to go watch the thing in person. And yet some of the pros are going to absolutely jump ship after they see some scrubs making millions in a no cut event. Then the PGA will have to decide whether or not to actually ban the players or force them to play in the tournaments they're missing in future years....will be interesting watching it all play out
 
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Terry_2426 said:
This is going to be such an absolute shit show at the start -- but there's so much blood money behind it that you can't dance on the grave too quickly because they're going to be willing to funnel money into this thing for a few years.

They allegedly tee off in less than 40 days and have virtually no one committed to it, no media partners to cover it, and high ticket prices to go watch the thing in person. And yet some of the pros are going to absolutely jump ship after they see some scrubs making millions in a no cut event. Then the PGA will have to decide whether or not to actually ban the players or force them to play in the tournaments they're missing in future years....will be interesting watching it all play out
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Most of this seasons tournaments are in the US. The PGA Tour will not give exemptions to tour players to participate in these events. The penalties have not been determined yet but will include suspensions and possibly more.

Meanwhile Phil is already signed up to play and is financially committed to the full schedule of Saudi events. This will be a showdown between Phil and the PGA tour. I can’t see the PGA tour backing down here or they will lose big as other players will defect to the Saudi tour as well. A cut off the oxygen strategy is in play here by both the PGA and Euro tours.
 
kapyoche said:
How much are they paying compared to PGA?
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I think that the winner of the first event gets $4M. And there is no cut, so all entrants get paid. It may be 54 hole tournaments as well. Very player friendly and a Korn Ferry type of field talent wise.
 
Have a few buddies that work for the PGA Tour which is headquartered down the street. The PGA will play hardball but I am not convinced they will win. I personally see the Saudi's pouring a ton of money into the thing for years to come which will do nothing but dilute the PGA Tour little by little.
 
RU85inFla said:
Have a few buddies that work for the PGA Tour which is headquartered down the street. The PGA will play hardball but I am not convinced they will win. I personally see the Saudi's pouring a ton of money into the thing for years to come which will do nothing but dilute the PGA Tour little by little.
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The key issue IMO is if the PGA Tour can withhold exemptions to prevent the players from entering the US based Saudi tourneys. They will give an exemption for overseas tourneys but will not in the US, where their market share can get hurt. I expect they will hold firm on that issue indefinitely. If they lose that in court then they lose a great deal of market share.

The LIV Golf Invitational Series 2022 schedule will visit the following dates and locations:

  • June 9-11: Centurion Golf Club – London
  • July 1-3: Pumpkin Ridge Golf Club – Portland
  • July 29-31: Trump National Golf Club Bedminster – New Jersey
  • Sept 2-4: The International – Boston
  • Sept 16-18: Rich Harvest Farms – Chicago
  • Oct 7-9: Stonehill Golf Club – Bangkok
  • Oct 14-16: Royal Greens Golf Club – Jeddah
  • Oct 28-30: Team Championship
 
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krup said:
The US imports less than 20% of its oil, and oil from Saudi Arabia is only about 5% of the imports.
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Oil is fungible, and a sold in a global market paid for in US dollars. If a Saudi prince pumps crude out of the ground in his backyard and sells it at an $85/bbl profit, when you fill up at a Sunoco station, you've put money in that prince's pocket, in a roundabout way.

Or just blame Putin ;)
 
rurichdog said:
Oil is fungible, and a sold in a global market paid for in US dollars. If a Saudi prince pumps crude out of the ground in his backyard and sells it at an $85/bbl profit, when you fill up at a Sunoco station, you've put money in that prince's pocket, in a roundabout way.

Or just blame Putin ;)
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It is a small enough share of what we are paying per gallon and doesn’t amount anything near say, how much of our money enriches China, that I am not going to get worked up about.

The other thing (from what I understand) is that Saudi Arabia’s oil is so cheap to extract compared to most countries that worldwide oil usage can shrink to a fraction of what it is now and they would be the ones who could still make money at it.
 
rurichdog said:
Oil is fungible, and a sold in a global market paid for in US dollars. If a Saudi prince pumps crude out of the ground in his backyard and sells it at an $85/bbl profit, when you fill up at a Sunoco station, you've put money in that prince's pocket, in a roundabout way.

Or just blame Putin ;)
Click to expand...

Yup that's how global commodities work. We could produce 5% or 95% of our domestic needs and it doesn't change the global price that we would pay. It's not like the guys pumping oil in West Texas are going to sell a barrel for $40 (for the good o' USA) when the global price is $110/barrel. Our only choice, to combat high oil prices, whether due to war, the whims of OPEC or natural disasters, is to find reliable alternatives to power our economy. We are getting there, just takes time...
 
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Knightmoves said:
The key issue IMO is if the PGA Tour can withhold exemptions to prevent the players from entering the US based Saudi tourneys. They will give an exemption for overseas tourneys but will not in the US, where their market share can get hurt. I expect they will hold firm on that issue indefinitely. If they lose that in court then they lose a great deal of market share.

The LIV Golf Invitational Series 2022 schedule will visit the following dates and locations:

  • June 9-11: Centurion Golf Club – London
  • July 1-3: Pumpkin Ridge Golf Club – Portland
  • July 29-31: Trump National Golf Club Bedminster – New Jersey
  • Sept 2-4: The International – Boston
  • Sept 16-18: Rich Harvest Farms – Chicago
  • Oct 7-9: Stonehill Golf Club – Bangkok
  • Oct 14-16: Royal Greens Golf Club – Jeddah
  • Oct 28-30: Team Championship
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I do not believe the PGA tour will give any exemptions for overseas tours especially since the PGA tour and the DP World Tour (European Tour) now have an alliance where the DP tour has formally agreed to take second fiddle to the PGA tour as long as the PGA tour supports and grows the DP Tour. There is a ton more co-ordination now. The DP Tour is effectively part of the PGA Tour now and as we know the DP tour plays in a much wider market than just Europe.
 
RU85inFla said:
I do not believe the PGA tour will give any exemptions for overseas tours especially since the PGA tour and the DP World Tour (European Tour) now have an alliance where the DP tour has formally agreed to take second fiddle to the PGA tour as long as the PGA tour supports and grows the DP Tour. There is a ton more co-ordination now. The DP Tour is effectively part of the PGA Tour now and as we know the DP tour plays in a much wider market than just Europe.
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We will know when we see if PGA Tour players get an exemption for the 6/9 tourney in London. If not then the field will be like a Koran Ferry tour event.
 
Knightmoves said:
We will know when we see if PGA Tour players get an exemption for the 6/9 tourney in London. If not then the field will be like a Koran Ferry tour event.
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That is true. I am just relaying the current thinking coming out of the PGA Tour headquarters. No exemption.

But as well all know, there are interesting legal issues at play here as well as sponsor concerns.
 
My understanding is that the tour would let them play Saudi overseas events but not US events. That has been the policy in the recent past.

You are saying no exemptions for Saudi overseas events as well?

What is likely to be the penalty for Phil and the others when they play in the 6/9 event in London?
 
Knightmoves said:
My understanding is that the tour would let them play Saudi overseas events but not US events. That has been the policy in the recent past.

You are saying no exemptions for Saudi overseas events as well?

What is likely to be the penalty for Phil and the others when they play in the 6/9 event in London?
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The opinion just two weeks ago was permanently banned. For however long that is.

here is the issue. Phil plays in London but doesn’t get banned. What happens to Sergio or Graham McDowell who are on both tours. Can they play in London and then play on Euro tour? Can they play in the US Saudi events but not London.

only logical solution is in or out from the PGA Tours perspective. There was a rumor in the press that they would allow guys to play in the first event. I have not heard that at all.
 
RU85inFla said:
The opinion just two weeks ago was permanently banned. For however long that is.

here is the issue. Phil plays in London but doesn’t get banned. What happens to Sergio or Graham McDowell who are on both tours. Can they play in London and then play on Euro tour? Can they play in the US Saudi events but not London.

only logical solution is in or out from the PGA Tours perspective. There was a rumor in the press that they would allow guys to play in the first event. I have not heard that at all.
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Was Phil suspended by the PGA, or do you believe his story of needing to take some time away?
 
rcube1994 said:
Was Phil suspended by the PGA, or do you believe his story of needing to take some time away?
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not suspended but I do not think he would have been allowed to play in a tournament without a sit down with Monahan who said that during the Players.
 
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LIV officials have said that 15 of the top 100 players in the world have registered for the opening event, though an official field list won’t be released until the end of the month. PGA Tour commissioner Jay Monahan has until May 10 to decide whether to grant players’ releases, since the June 9-11 event in England conflicts with the Tour’s RBC Canadian Open. Reigning PGA champion Phil Mickelson said last week that he has also asked for a release.
 
MCY said:
Yup that's how global commodities work. We could produce 5% or 95% of our domestic needs and it doesn't change the global price that we would pay. It's not like the guys pumping oil in West Texas are going to sell a barrel for $40 (for the good o' USA) when the global price is $110/barrel. Our only choice, to combat high oil prices, whether due to war, the whims of OPEC or natural disasters, is to find reliable alternatives to power our economy. We are getting there, just takes time...
Click to expand...

Thorium?
 
RUScrew85 said:
Thorium?
Click to expand...

Not exactly what I had in mind, but it's going to take all forms of alternative power to supplant oil and it's going to take place over several generations. Unfortunately, at just a few months shy of 60, I won't live to see this day, but hopefully my kids will...
 
MCY said:
Not exactly what I had in mind, but it's going to take all forms of alternative power to supplant oil and it's going to take place over several generations. Unfortunately, at just a few months shy of 60, I won't live to see this day, but hopefully my kids will...
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when oil is replaced by alternet energy the Saudis will move to creating a giant solar plant charging batteries made in china to sell to EV companies and use the oil that now is worthless as oil pit traps in their STP ( Saudi Tour Players) Tournament ..
 
not sure a drawing a line is the right approach. PGA tour is great if you are in the top 25. But it’s a tough grind for guys in the 75-125. Will be interesting for sure
 
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Section124 said:
Not really. That's like 10% of his net worth.
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One article says it’s 25% of his earnings during his 4 biggest winning years. $40 million was for only 4 years. Guy has lost a boatload more than that over time and just sold his jet because he didn’t have cash to keep it.
 
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