NORTH YORK (Ontario) — Rory McIlroy, two-time defending champion, was not looking forward to the press conference he had scheduled ahead of this weekend’s 2023 RBC Canadian Open , and with good reason.
The PGA Tour , announced on Tuesday that it would form a new entity with the DP World Tour, and the Saudi Arabian Public Investment Fund. This fund had previously funded LIV Golf, a competing circuit which has been a thorn to the Tour for over a year.
McIlroy said, “It is hard to sit here and not feel like a sacrifice lamb. I have put myself on the line and this is how it turns out.” McIlroy has been a prominent supporter of the Tour in its fight for professional golf dominance with LIV. “Again, when I remove myself from the situation, it is clear to me that this is better for golf. It’s a fact. “But for me, as an individual, yes, there will have to be discussions.”
McIlroy received a text message on Monday morning from Jimmy Dunne. Dunne is the vice-chairman and senior managing principal at Piper Sandler. This led to an early call Tuesday morning, around 6:30 a.m. ET before the news was released.
I knew that there were discussions taking place in the background. I knew there had been a change in communication channels. McIlroy said, “I didn’t anticipate it happening as quickly as it has.” The way Jimmy explained it, “Rory, you sometimes get 280 over the water, you’ve just got to go all in.” And that’s exactly what they did.
McIlroy, who has stepped down from the situation to allow the PIF to be included in the new entity, sees how it will benefit the professional game and its financial future. The litigation between LIV Golf and the Tour, which cost both sides millions of dollars, will also be eliminated.
McIlroy said that the players’ meeting on Tuesday to discuss the latest news was “heated”, and people were shocked.
“Most of the complaints come from guys who are trying to keep their cards. They feel that they have already lost out this year, with the smaller fields at the designated events as well as the FedExCup points weighted for the bigger events. McIlroy said that they already felt vulnerable. Then, when this news is announced, there will only be one reaction. And I can understand it. It’s difficult for me to understand those guys because I have never been in their shoes. “I try to understand it but I can’t fully relate to it. But I do empathize their point of views.”
The 23-time Tour winner went out of his to make it clear that the deal was not a merger between LIV Golf – “LIV has nothing to do with this”. Instead, the PGA Tour merged with the DP World Tour to form a new entity.
“I was frustrated by that.” All I wanted to do in the last year and from this tournament onwards was to protect the PGA Tour’s future and the aspirational nature that the PGA Tour represents. “I hope this will do that,” said McIlroy.
“And another thing is that, whether or not you like it, the PIF was going to continue spending the money on golf. The PGA Tour controls the spending of that money. You know, if one of the largest sovereign wealth funds around the world was your enemy, or a partner, which would you prefer? Money talks, and you’d rather have them as your partner.”
“I still dislike LIV.” Like, I hate LIV. I hope that it will go away. McIlroy declared, “I would expect it to happen.” “And I believe that’s the difference here. The PGA Tour, DP World Tour, and PIF are all three. “Very different from LIV.”
McIlroy, despite his emotions and the lack of transparency, said he has faith in PGA Tour Commissioner Jay Monahan. Monahan will be the CEO for the entity that is yet to be named. However, certain details must be worked out, including how players who have left the LIV tour will return.
He said: “From where I was a few weeks ago, to where I am today, the future of the PGA Tour as a collective, as a entity, looks brighter.” “Actions still have to be punished. People who left the PGA Tour irreparably damaged this Tour and started lawsuits against it. We can’t simply welcome them back. That’s not what will happen. “That is not going happen,” Jay said yesterday.
McIlroy was honest and passionate for most of the press conference, but he let down his guard towards the end when asked if he felt uneasy about how Saudi Arabia, with their money, is now involved in golf.
“I’ve accepted it.” I’ve seen what has happened in other sports. I’ve seen what has happened in other sports. “I’m resigned to this outcome,” he said. It’s hard to keep up when people have more money. If they’re going to invest that money in golf, why not partner with them? We can make sure it’s done the right way. “That’s where my mind’s at.”
McIlroy might be resigned that the new entity will be coming, and players must either get in line to get involved or else get lost. However, there are still a few levers to pull to derail the agreement. The United States Department of Justice was already investigating the Tour monopolistic practices, and Tuesday’s announcement will raise red regulatory flags. The Tour’s board must also approve the deal.
To use Dunne’s analogy: the Tour had to carry water 280 yards and did it. We’ll wait to see if it clears or splashes.
