19th Hole
Phil Mickelson doesn’t hold back in response to leaked PGA Tour memo offering members equity ownership opportunity
On Tuesday, the PGA Tour sent out a memo to its players regarding the framework deal between the PGA Tour and the PIF, saying that progress has been deliberate”.
The memo, first obtained by ESPN, states:
“Progress has been deliberate given the complex nature of the potential agreement, and we will keep you apprised of the progress, with continued input and direction from your Player Directors and player advisor Colin Neville.
“Additionally, as you know, the Framework Agreement with PIF and the DP World Tour generated unsolicited – although not surprising – interest from numerous outside potential investors.
“The opportunity to potentially participate in the transformative growth of the PGA Tour for the first time brought forth dozens of inbound prospects, which were all initially vetted by the Tour’s investment bank, Allen & Company.
“In the Policy Board meeting, we reviewed these remaining bids with the Independent Directors and Player Directors – with input from Allen & Co. and The Raine Group – and agreed to continue the negotiation process in order to select the final minority investor(s) in a timely manner.”
The memo also added that the new deal with PGA Tour Enterprises would entail players receiving equity in the company.
“Tour management has designed a program that would align the interests of our members with the commercial business of the Tour via direct equity ownership in PGA Tour Enterprises.
“At the point we secure outside investment, this would be a unique offering in professional sports, as no other league grants its players/members direct equity ownership in the league’s business.
“We recognize – as do all of the prospective minority investors who are in dialogue with us – that the PGA Tour will be stronger with our players more closely aligned with the commercial success of the business.”
After seeing the memo, Phil Mickelson took to social media to have his say on the changes that we are currently seeing on the PGA Tour.
What an amazing change of philosophy in 2 years. “If it’s not 100% owned and controlled by the PGA Tour it will be viewed as hostile.” Ed Herlihy and Jay Monahan October 30,2021
Thank you LIV, PIF, His Excellency and all the players willing to stand up to Jay’s threats and…— Phil Mickelson (@PhilMickelson) November 14, 2023
“What an amazing change of philosophy in 2 years. “If it’s not 100% owned and controlled by the PGA Tour it will be viewed as hostile.” Ed Herlihy and Jay Monahan October 30, 2021. Thank you LIV, PIF, His Excellency and all the players willing to stand up to Jay’s threats and disparagement to force positive change.”
Prior to his move to LIV, Mickelson accused the PGA Tour of “obnoxious greed” in an interview with John Huggan.
“It’s not public knowledge, all that goes on. But the players don’t have access to their own media. If the tour wanted to end any threat [from Saudi or anywhere else], they could just hand back the media rights to the players. But they would rather throw $25 million here and $40 million there than give back the roughly $20 billion in digital assets they control. Or give up access to the $50-plus million they make every year on their own media channel.
“There are many issues, but that is one of the biggest. For me personally, it’s not enough that they are sitting on hundreds of millions of digital moments. They also have access to my shots, access I do not have. They also charge companies to use shots I have hit. And when I did ‘The Match’—there have been five of them—the tour forced me to pay them $1 million each time. For my own media rights. That type of greed is, to me, beyond obnoxious.”
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19th Hole
“Is it a Titleist?” – Jerry Seinfeld shares never-before-heard details of iconic scene
On Thursday, legendary comedian Jerry Seinfeld joined the Rich Eisen Show and shared an awesome story from a “Seinfeld” episode titled “The Marine Biologist.”
In the episode, a golf ball goes into the blow hole of a whale. According to Seinfeld, that was never in the episode’s script.
Seinfeld recalls saying the night before the filming of the episode, “What if what puts the whale in distress is Kramer’s golf ball?”
“He’s hitting golf balls at the beach. George is at the beach with a girl, we haven’t connected them!”
“We write that speech the night before at two o’clock in the morning…The sea was angry that day my friend.”
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Kramer finishes the iconic scene by asking “Is it a Titleist?” Seinfeld told Eisen the show sought Titleist’s permission to mention its name, saying the ball had to be a Titleist. Fortunately for lovers of the iconic show, the company agreed.
If (somehow) you’re unfamiliar with the scene, check it out below.
More from the 19th Hole
- Phil Mickelson drops big retirement hint; Says LIV will grow the game “on a much more global basis”
- 2-time major champ announces shock retirement from the sport at age of 33
- Tiger explains why golf has “negative connotations” for daughter Sam
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19th Hole
Phil Mickelson drops big retirement hint; Says LIV will grow the game ‘on a much more global basis’
While speaking with Bloomberg, golf legend Phil Mickelson acknowledged that he is inching close towards retirement.
“I’m 53 now,” Phil said, “and my career, you know, it’s — if I’m being truthful, it’s on — it’s — it’s — I’m a — it’s towards its end.”
Mickelson added that one of his focuses now is helping other young players.
“Now, I would like to help others find the same enjoyment and fulfillment that the game has provided me. I’d like them to experience that as well.”
The six-time major champion credited LIV with reaching new markets in golf to help it grow.
“I think that’s exciting for everyone involved in the game because we are going to reach markets that we didn’t reach before. I think it’s going to inspire more golf courses, inspire more manufacturers selling clubs and equipment, but also inspiring young kids to try to play golf professionally. I just see that the game of golf is going to grow on a much more global basis because of the excitement and the presence that LIV Golf has.”
Mickelson is playing at this week’s LIV Singapore and shot a first round 72 (+1).
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- 2-time major champ announces shock retirement from the sport at age of 33
- Edoardo Molinari reveals the latest PGA Tour golfer to turn down ‘good offer’ from LIV Golf
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19th Hole
Tiger explains why golf has ‘negative connotations’ for daughter Sam
While Tiger Woods’ son, Charlie, has certainly inherited his father’s love for golf, his daughter, Sam, has not.
On Wednesday, Tiger made an appearance on The Today Show with Carson Daly and explained his daughter’s relationship with golf.
“Golf has negative connotations for her. When she was growing up, golf took daddy away from her. I had to pack, I had to leave, and I was gone for weeks. So, there were negative connotations to it.
“We developed our own relationship and our own rapport outside of golf. We do things that doesn’t involve golf. Meanwhile, my son and I, everything we do is golf related.”
The nine-minute interview touches on plenty of other subjects, such as Tiger’s relationship with his late father, Earl.
It’s arguably the most open we’ve seen the 15-time major champion in an interview and is most definitely worth watching.
Tiger Woods sits down with Carson Daly to talk about golf, growing up in Southern California, his father and his new apparel line, Sun Day Red. pic.twitter.com/2TFbSNxzxq
— TODAY (@TODAYshow) May 1, 2024
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- 2-time major champ announces shock retirement from the sport at age of 33
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