PGA Tour stars who rejected the advances of LIV Golf are set to find out exactly how much their loyalty has been worth in terms of dollar bills, according to a report.
Per GOLF’s Sean Zak, the PGA Tour membership will receive an email from the circuit’s commissioner Jay Monahan on Wednesday (24 April) informing players of the current value of their award grants.
In January, the newly-formed PGA Tour Enterprises announced a $3bn private equity deal with a group of investors led by Liverpool FC owners Fenway Sports Group.
Fenway front the Strategic Sports Group and the initial investment provided a huge measure of security to the PGA Tour as talks continued with LIV Golf’s Saudi backers to ratify last June’s framework agreement.
It was also speculated at the time it marked the beginning of the North American circuit attempting to ‘go it alone’ against LIV with a huge war chest of their own.
That assumption was made when Jordan Spieth claimed ‘we don’t necesarrily have to’ strike a deal with PIF.
Discussions have now reportedly stalled, prompting Rory McIlroy to return to the PGA Tour’s board to break the impasse.
As a result of the aforementioned deal, golfers who remained loyal to the tour and snubbed LIV were set to receive $1.5bn in immediate and future equity.
There are 193 eligible recipients and those include stars such as Spieth, McIlroy, Tiger Woods, Scottie Scheffler, Justin Thomas and Xander Schauffele.
Unsurprisingly, the Tour has reportedly chosen to keep the numbers confidential.
GOLF claim to have viewed a video compiled by the Tour that was released to members explaining how the money was to be doled out.
“It’s really about making sure that our players know the PGA Tour is the best place to compete and showing them how much the Tour appreciates them being loyal,” Jason Gore, the chief player officer, reportedly explained in the video.
It’s important to note that players will not immediately be given astronomical sums of money but rather receive ‘a capital interest award for a specific piece of PGA Tour Enterprises’.
High-performing players will receive a greater stake and vice versa.
Should LIV Golf players ever return to the PGA Tour, they will never be eligible to be a part of the ownership equity plan.
PGA Tour player director Peter Malnati went on somewhat of a rant about that subject after the Players Championship.
He explained: “This player equity plan, I don’t understand it, it’s a little bit above my head, but I certainly know enough to say that I really do support it.
“It’s going to make players owners of the Tour, and guys who violated our policies aren’t ever going to be eligible for that. That’s a big deal. Like, that’s a big, big deal.
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