Zinger Key Points
- LIV Golf and the PGA Tour are merging, putting aside an intense rivalry that saw lawsuits and battles between golfers.
- The news was surprising to many, but was also predicted by a former president.
- Discover Fast-Growing Stocks Every Month
Former President Donald Trump, a huge fan of the sport of golf, made a bold prediction nearly one year ago, saying that two rival golf leagues would merge together. On Tuesday, his prediction came true.
What Happened: The PGA Tour and LIV Golf Tour have put aside their differences and agreed to a merger that was announced Tuesday morning.
LIV Golf Tour, which is backed by the Saudi Public Investment Fund (PIF), was able to draw top-ranked golfers to its league with huge sums of money. Golfers who joined LIV Golf included Phil Mickelson, Cam Smith, Brooks Koepka and Dustin Johnson.
An unnamed company will hold ownership in both leagues and will bring an end to pending lawsuits against LIV Golf by the PGA Tour.
According to a press release, the Public Investment Fund (PIF) plans to channel more funds into the newly merged entity. This consolidated company will “work together to best feature and grow team golf going forward.”
The news was shocking to many in the sports world as two rival leagues have battled for over a year over golfers, their contracts, rights to play in certain tournaments, and golfers exchanging barbs.
Golf legend Tiger Woods previously said that golfers who left to join LIV Golf had “turned their back on what has allowed them to get to this position.”
Trump, on the other hand, wasn't surprised by the development, calling the merger “A big, beautiful, and glamorous deal for the wonderful world of golf.”
Less than a year ago, the former president predicted this very merger would happen.
“All of those golfers that remain ‘loyal’ to the very disloyal PGA…will pay a big price when the inevitable merger with LIV comes, and you get nothing but a big ‘thank you’ from PGA officials,” Trump said on July 19, 2022.
As shared by sports reporter Darren Rovell, Trump’s prediction took 322 days to come true.
Related Link: Dustin Johnson Getting Paid So Much To Join LIV Golf, He Just Passed Tiger Woods IN Golf Related Earnings
Why It’s Important: The merger is shocking given the intense rivalry between the leagues, and could change the path forward for media rights deals and sponsors.
Many golfers and advertisers have questioned the human rights record of PIF, which could see a lack of support for the combined company.
Trump hosted several LIV Golf events at his golf courses, which drew criticism. He brushed aside the criticism previously and said there is no link between Saudi Arabia and the events of 9/11.
The former president previously criticized the PGA Tour for being “stupid” and missing out on a great opportunity.
Read Next: Tiger Woods, Rory McIlroy Unite On New Golf League, Can It Compete With PGA Tour And LIV Golf?
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
