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Phil Mickelson has shared a detailed explanation of the PGA Tour’s proposed merger with the Public Investment Fund of Saudi Arabia which he believes depicts the “full truth” behind the deal.
Mickelson hailed an “awesome day” on June 6 when the bombshell news dropped that the PIF backers of his LIV Golf tour had signed a framework agreement to end all litigation with both the PGA and DP World Tours.
While the finer details of the deal are still ambiguous, what is clear is that the two established tours have agreed to join forces with PIF to as part of one for-profit commercial entity that will run golf at its elite level.
And Mickelson, who became the face of LIV during the fledgling circuit’s emergence last year, is welcoming the shock union that will see golf’s previously warring factions working together as part of a new union.
Early details of the agreement shows that Jay Monahan, the PGA Tour commissioner, will have the power to disband LIV as part of his role as chief executive in the new committee.
But an extensive thread from Twitter user “Bob ‘Golf’ Ball” which was reposted by Mickelson paints a very different picture of who will be in control of the sport going forward.
The user broke down his thoughts on the deal, firstly slamming journalists “who have got everything wrong for the last year”, before sharing his own purported information.
Mickelson agreed with everything that was said, writing: “This thread is a long and accurate FULL truth (not half truth) of the LIV PGA Tour agreement if you’re interested.”
This thread is a long and accurate FULL truth(not half truth) of the LIV/PGA Tour agreement if you’re interested. Well done BobBall and thank you. https://t.co/FcypIKx7Yl
— Phil Mickelson (@PhilMickelson) July 6, 2023
Bob Ball says PGA Tour players are “screwed” if they do not support the framework agreement, and that the idea of the circuit’s members potentially getting rid of LIV is a “fool’s wish.”
He adds that PIF governor Yasir Al-Rumayyan, who will chair the new board, “will firmly be in control but wants to leave the day-to-day decision making and operations of the different Tours to skilled professionals.”
“The new board won’t have the power to sell anything, spend a certain amount of money, enter into certain types of binding agreements, merge with another tour, sign contracts over certain dollar amounts, or come close to even touching LIV without PIF’s consent,” he continued, apparently dispelling the fact that the PGA Tour still holds the authority in a new company that is being referred to in leaked documents as “NewCo.”
He then warned: “If the Framework deal doesn’t go through, all of money is going to pour into LIV with absolutely no PGA Tour input or power to share.
“As I’ve previously said, LIV is the new Formula One of golf. The PGA Tour can be NASCAR but you are in danger of a deep slide backward.”
Mickelson was clearly a fan of the thread, replying: “This is spot on accurate. You nailed the MOST important part of the entire agreement. You’re the first to do it!”
The six-time major champion is competing at LIV’s event this weekend at the Centurion Club in St Albans, while uncertainty still reigns over the long-term future of golf’s professional ecosystem.
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