PGA's Jay Monahan and PIF's Yasir Al Rumayyan break down surprise deal to merge PGA and LIV
CNBC's David Faber sits down with PGA Tour Commissioner Jay Monahan and Yasir Al Rumayyan, governor of the Saudi Public Investment Fund (PIF), to break down how two golfing entities come in agreement to merge, to form a new, yet-to-be-named for-profit company.
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Jay Monahan getting paid, along with the entire PGA Board. That's the ONLY reason this happened. Jay - Have you ever had to say you're ashamed to be a part of the PGA?
@TheHometownfan
Жыл бұрын
Yep.. most likely guaranteed Jay the main and cut off Norman
@christopherhall4125
Жыл бұрын
You can hear it in his Jay’s voice, he is not committed to this merger. No bout he’ll step down sometime after the merger is complete. Sitting some kind of health/personal reason.
@jameslucas2663
Жыл бұрын
I agree
@silverman5707
11 ай бұрын
Well said. Jay will have a new house or bigger boat soon.
@rayant9767
11 ай бұрын
stay mad lol
Jay is a crook and the one that created this whole situation. His head should roll. How can you let him manage something after the mess he made of the PGA tour?
Full Swing Season 2 is boutta be lit
@woncameron24
Жыл бұрын
and 3. netflix hit the jackpot
Jay sold out professional golf and his soul to the Saudi's. Congrats Jay!
@justin-we1bv
Жыл бұрын
US already has a very close economic relationship with the Saudis and NO ONE bats an eye... it was only a matter of time. Should have done it from the start.
@kevincabral9363
Жыл бұрын
The ignorant don't have to follow the ignorant. F@ckin guy speaks out of All sides of his mouth 💯
@AlexKazakovaxkazakov
Жыл бұрын
@@justin-we1bv Saudi Arabia is just like Russia. Both are resource-rich countries, both wage war on their neighbors, both have human rights abuses, both run by autocrats/dictators. Only difference is the Saudis are a “friend” because they host a US military base
@TOMVUTHEPIMP
Жыл бұрын
The US buys 20% of their oil from Saudi.
@TOMVUTHEPIMP
Жыл бұрын
@@justin-we1bv Jay should have just let them play in PGA events from the start and this would have all been avoided.
The guys who turned down millions are going to have a heart attack.
@Mr.Steve-O
Жыл бұрын
Tiger turned down 800, Will Zalatoris 125, and the list goes on. Jay screwed them all and is a major snake
@rhysdavies2921
Жыл бұрын
But they have their integrity, so they'll always be winners
@goth_ross
Жыл бұрын
@@rhysdavies2921 integrity based on a lie is meaningless.
@MilesIzHigh5280
Жыл бұрын
@@rhysdavies2921 what integrity? Tiger has been embroiled in how many scandals? And no matter how you swing it they’re now being paid in Saudi money regardless, just nowhere near the money they would’ve made had they signed. If they had any integrity they would retire and refuse to play in this merger. I mean blood money is blood money. But we both know they will never do that lmao so much for their "integrity" 🤡
@aguy6641
Жыл бұрын
@@rhysdavies2921 They were tricked so they're suckers.
Jay "Money" Monahan could have 100% avoided all of this if he simply let LIV guys play in PGA Tour events. Instead he drew a line in the sand, called them every name in the book. So LIV punched him in the mouth, knocked him out and took his ball. LIV is PGA Tour's daddy now.
@thesailingsurfer-adventure6225
Жыл бұрын
best analogy yet.
@lets_go_brandon_lee_6198
11 ай бұрын
You should hear what Brandel Chamblee said on the Rich Eisen podcast. BC is delusional!
“PGA Tour has never been stronger” says the guy who just capitulated completely.
Just a thought. I wonder, since Monaghan didn’t involve the players, will his authority to sign off on this deal be challenged?
@ChasingBogeys
Жыл бұрын
Even if that were a play, majority of golfers (below top 20) would be lured by the additional purse and events. So that move won’t get a majority. Secondly, you’re underestimating the litigation powers of PIF given the blessing from the PGA brass.
Thing is, while the PGA Tour was great for America, it was killing professional golf around the world. In places like Australia which used to have a great tour it had been reduced to a few tournaments and not much opportunities for local players. If this merger can result in a more global approach to the growth of professional golf and the game in general, then it’s a good thing. It’s not all about what happens in the USA, the game of golf is a global game and it couldn’t continue the way it was going.
@gilvreymohi8742
Жыл бұрын
Well done , Shaun I completely agree.
@tedwozniak9896
Жыл бұрын
Amen, global golf, not PGA golf...
@goth_ross
Жыл бұрын
IMO. this will only re-solidify the PGAs monopoly on golf. They were anti LIV because of money. and fear of losing the power they wielded. now with this. they have absorbed the threat and will go back to business as usual... ie. Lining the execs pockets.
@jonathanh9592
Жыл бұрын
Unfortunately, there will never be a tour that is truly global. For ticket sale purposes they need to play the majority of the events in America. The only other place that draws big crowds is the uk. Mainland Europe and beyond doesn’t get support at all
@shaun34
Жыл бұрын
@@jonathanh9592 I think it’s probably more due to television rights than ticket sales but I get what you mean. For example if they held an event in Australia I am certain the crowd attendance would be just as good as in the USA if the best players came to play. I just hope that the merger results in more higher level events being held around the world than just concentrated mainly in North America. The PGA tour are doing a handful outside of the USA, the DP World Tour are doing a lot more in this regard. But it’s important to spread the events with the big money purses so that the best players want to come and play. We had a LIV event in Adelaide and it had big crowds and great players. We need more such events and more opportunities for local players to play in bigger events.
So disappointed in the PGA. So many things wrong about this. Almost feel like abandoning golf altogether.
@MZ-hi7yy
Жыл бұрын
i bet you still buy clothing made by children in southeast asia, typical first world virtue signaling
@ryanduran9609
Жыл бұрын
Bye Felicia. There are plenty of hacks out here anyway
@nicholasshaffer5542
Жыл бұрын
Professional golf certainly
@seajaemusicdj3815
Жыл бұрын
@@ryanduran9609 hilarious
@TOMVUTHEPIMP
Жыл бұрын
Abandon your car then too.
Can’t wait to hear Rory’s take on this. In any case, I’m done following pga tour.
@drexlspivey3047
Жыл бұрын
I only follow certain players. Where or which tour doesn't matter to me.
@youdosuck
Жыл бұрын
Rory - WTF
@alexjones7043
Жыл бұрын
Lol. I hope rory is done with the tour. You guys should both move to canada 😂😂
@jfloyo11
Жыл бұрын
I wish he would try to fight him actually.
@MilesIzHigh5280
Жыл бұрын
Turned down half a billion and talked all that smack only to end up looking like an idiot and being employed by the saudis anyways 😂
One of the great betrayals and snake moves of all time in sports. Love it
@moerer57
11 ай бұрын
Monahan sold his soul to the devil💩
I thought there’d be more chance of Russia pulling out of Ukraine before this would ever happen WTF
Everyone has a price.
@jimbob483
11 ай бұрын
Especially in America.
@ahmedalqassem
11 ай бұрын
Exactly what I've been saying
I'm laughing at all the golfers who turned down the money
@annettepora8091
Жыл бұрын
Money is currently at the root of Americans problem. Saudis have been planning how to circuitously take over the US for decades. 9/11 was the acceleration. It's been downhill since.
@TOMVUTHEPIMP
Жыл бұрын
Ricky Fowler probably going to take a bath with a toaster tonight.
"EVERYBODY'S GOT A PRICE!!! HAHAHA!!!" -- The Million Dollar Man Ted Dibiase
@Dtownpunk77
Жыл бұрын
Nice throwback!!!
@patrick4133
Жыл бұрын
Yes and loyalty means nothing to the PGA , for those golfers that turn down LIV to stand with them on some principles. He'll if they was going to take the money like that they could have told those golfers that where being poached.
@Smokey2Mc
Жыл бұрын
Jay Monahan is Virgil
@B-H76
Жыл бұрын
@@Smokey2Mc Virgil....YES😆😆😆
Old Jay signed him a LIV deal today !!!
@THEPINKFLOYDIANS
Жыл бұрын
😂
If this isn’t emblematic of the depraved state of this country, nothing is. Truly remarkable.
@J.C.3
8 ай бұрын
You think this will screw NFL, NBA etc?
When golf tournaments come to a city a lot is done by volunteers. Maybe they can now pay them since all this new money is there.
@ahmedalqassem
11 ай бұрын
All sports in which athelets are paid huge rewards should pay volunteers as well
Pardon my ignorance but does Monahan has the power to essentially sell the PGA Tour? Does this mean everyone in the board (whomever they might be) approved?
@goth_ross
Жыл бұрын
im sure they are all getting paid...... alot.
@Mr.Steve-O
Жыл бұрын
The managing board voted and apparently, the cash was too good. So much for integrity, loyalty, and legacy 😂
So jay becomes CEO of the new FOR PROFIT company jesus christ 😂
Jay says his heart goes out to those killed in 911. But his wallet was open to the Saudi's. Shame shame shame on Jay! You should be immediately terminated. Thank you to those players who did not sell out like Jay. I will no longer watch the PGA!
@twgolf2704
Жыл бұрын
The US wallet was open for Osama Bin Laden 🤔 what about him being a US Asset?
@caffreys1979
Жыл бұрын
I was thinking this too. He seems to be thinking only of himself. The whole video I was thinking remove this man from the PGA.
@user-qx9zn2cj4e
11 ай бұрын
What do Saudi business men have to do with 9/11? Imagine banning French businesses because 5 random French people killed some Americans
Jay Monahan has had his pockets line to bursting point ....money talks folks
So money wins again. No moral code in the game of golf. When Monaghan, Pelley and others look at themselves in the mirror remember the women , the poor and others who suffer under this regime. Sad sad day for golf. Don’t pontificate anymore about the values of golf. Feeling for Rory and the other players.
Where’s Greg Norman it should be him sitting next to Jay Monahan. Looks like he’s been pensioned off. PIF could’ve lured Rahm, Scheffler and Rory to LIV but it wasn’t their intention £6bn would’ve sorted that out. They could’ve replaced Greg with Monahan but chose not to this new merger is better for world golf . Interested to watch how this develops in the future.
Seen this coming a long time back. You cant stop progress, you can only delay it
@jimbob483
11 ай бұрын
puke
@rayant9767
11 ай бұрын
true
@jwp2166
10 ай бұрын
Progress? Sorry. Getting in bed with terrorists.
If LIV had taken over DP World Tour initially that would have worked also. No mention of Greg Norman so he is collateral damage it seems. Jay Monahan must have had a big payday
PGA is now PGSA = Professional Golfers of Saudi Arabia
@OOOO-yz1lb
11 ай бұрын
Based saudi
One of the biggest day in Golf history
@mga2899
Жыл бұрын
And lowest.
@RayNLA
Жыл бұрын
It’s definitely the Biggest Day!
@nickwest1476
Жыл бұрын
Screw golf. Tell all those victims of 911!
@izakventer3374
Жыл бұрын
Could possibly be, but what really gets to me is the way the whole matter was handled. I believe in the long run the average golf supporter will embrace the merger. It could take years. Really feel for Rory & Co who was so loyal and stood up for these sellout’s. With all being said, I was more pro LiV. Just hope the dust settles sooner than later 👋
@anthonygehl3563
Жыл бұрын
The Saudis own golf now.
Players that didn't go will sue and/or start own tour using their leverage now
@ChasingBogeys
Жыл бұрын
Against PIF? Um..
@TOMVUTHEPIMP
Жыл бұрын
Who? Justin Thomas, Jordan Spieth and Ricky Fowler? They just got WAXED by a LIV player who Chamblee said was washed up and can't play anymore.
@goth_ross
Жыл бұрын
I think that is actually a good move. The players league. run by the players. for the players. or something like that. Monahan is an embarrassment. and this will only reestablish the PGAS monopoly on golf. This guy needs to be fired.
@el_duderino_man
11 ай бұрын
Sue a non-profit that no longer exists?
Of course Yasir is going to be CHAIRMAN
Shame on you Jay! SOULed out the gentleman's game for dirty money.
“To unify the game of golf…” He is trying to sell us a grand illusion. No matter how “feel-good” they try to make it, this is business and it is a money decision and nothing more.
@goth_ross
Жыл бұрын
nothing that comes out of Monahans mouth should be seen as anything other than self serving BS. fool me once. shame on you... fool me twice..
This is yet another reason not to ever badmouth anyone!
How much money did Jay Monahan receive to sell his soul.
@goth_ross
Жыл бұрын
this is the question.
jay loves it when a plan comes together (ciger on standby)
Boycott PGA!
@Juddly05
Жыл бұрын
Why? The US has more innocent blood on its hands than the Saudis. Get off your high horse.
@Jeebizz101
Жыл бұрын
who cares who pays them, just watch the golf
@luvsilly60
Жыл бұрын
There is no PGA, only LIV.
PGA owners/board are the only ones getting paid
Will it be Long Pants or Short Pants for the players?
“The control is not there”, says the future Chairman of the Board representing Prince Dismemberment.
The fundamental difference between the two games boils down to attention span. With today's ADHD generation, LIV had the right formula.
how much did Jay make off this deal? that’s the only thing that got it done
@caffreys1979
Жыл бұрын
Was thinking that too. Billion dollar handshake !! 🤝
It’s the PGA tour and LIV taking money out of the players pockets. The teams will now be owned by the new company not the players. 😢 The players just LOST BIG 😮
@Juddly05
Жыл бұрын
Phil has shown the world the players were already being ripped off by the PGA. This is a huge win for golf.
@MilesIzHigh5280
Жыл бұрын
Where do you come up with this BS? How in the hell is this taking money out of the golfers pockets 😂 the PGA has been taking money out of the players pockets for decades. The players who got paid the most in the last year have all been on the LIV tour.
Fantastic news, world golf will forever be thankful 🎉
Good job. Sold off one of our most beloved games
my god, money can take down anything huh
What happened to TW vs PM for 10 million winner take all? Sounds like an option to explore.
Wow, big deal struck today, who knows how this will go.
This is great! Great job! Way to go! High five! Can't wait! Makes sense! Exciting!!!!!
@Dtownpunk77
Жыл бұрын
Frick yea!
@BrendyNew
Жыл бұрын
You're not a real human.. can't be. Plus you answered yourself you joke
Jay said "Well, listen" four times in this interview. Do they teach that in law school?
It will always be about how much more money can be made .
Soooo have we Officially become the United States of Saudi Arabia??????
@MWayne-zz1cr
10 ай бұрын
No, still unofficially.
Pga bent over to liv...disgusting
Is this gonna be on an episode of "American Greed" one day?
Let’s go Cam Smith ! 🇦🇺
@jackhart8168
Жыл бұрын
No
@jackhart8168
Жыл бұрын
The golf community needs to rally behind those who didn’t take blood money
@natemoore6760
Жыл бұрын
@@jackhart8168 by that logic, that’ll be everyone who plays professional golf under this new organisation
@jackhart8168
Жыл бұрын
@@natemoore6760 most who played liv golf won’t even be able to qualify, for events now that the merger has happened. I’m not thrilled that those that stuck by the tour lost. I also don’t think it is okay to partner with the Saudi’s
@jackhart8168
Жыл бұрын
@@natemoore6760 you are right, everyone has to deal with the Saudi’s now and that’s not okay. We will see what players do in the following weeks
They say everyone's integrity is for sale. Check Jay Monahan 's bank account to see what he valued his credibility at. How do you leave him in place?
The PGA's new logo is the towers on fire.
To summarize...."ma pockets fat...I don't give a damn"
All it would take is a few big names say "no, i don't think so" and there would be 2 tours again.
I wonder what jays CEO salary will be
Fascinating Turn of Events...Those Lawsuits were working their way thru the court's..."Golfer's Hire Great Lawyers"..,.💯👀🙈
Now. A monopoly has been created. Hope that golf players’ interest come first before the organizations. One umbrella does not sound good.
@caffreys1979
Жыл бұрын
I was thinking this too. Now prices for everything could shoot up. Monopolies are dangerous!
@goth_ross
Жыл бұрын
Players interest goes only as far as is necessary to keep them from complaining... . This has all been about money for JM. and it always will be. dude is a spin artist. and i feel really bad for those who bought into his faux outrage.
Greg Norman question caught him off guard
Good but pay the players who stayed what they were offered by LIV then we'll be ok.
@Smokey2Mc
Жыл бұрын
Have you got a space in your kennels for Jay? The Saudi lapdog?
I assume Reed is still suing Rory. What happens to Greg Norman?
@TOMVUTHEPIMP
Жыл бұрын
Greg Norman becomes Rory's daddy.
Greg Norman was referred to as a partner and not in the past tense.
What does off-course participants mean? You say that there are more off course participants, than on course participants. Please explain!
@kainsel
Жыл бұрын
Top Golf, mini golf, golf domes
Game changer! 🤯
Come on CNBC, you gotta ask way tougher questions than that...
@jwp2166
10 ай бұрын
If he asked any tougher questions Yasir would have had him killed.
Not a merger. SA's PIF just bought golf as we know it. Does this mean that PGA will lose its ridiculous non-profit status??
Minimum salaries for Tour players will be cool.
"Looking to the right and down while speaking signifies selfdoubt, whereas looking right and straight/up signifies lying. Looking to the right activates imagination and left activates memory." Watch how many times Monahan looks to the right.
@macdaknife5160
Жыл бұрын
Wow, don’t believe everything the psych books say. It’s also a sign of autism. Is Jay autistic too???
@ChiefFr3oon
11 ай бұрын
That's not a fact actually. only if they, for example, tell the truth while looking right or right down or whatever and then do the opposite while they're lying. You can only be sure of that if you know what's true and what's a lie though.
This is how the world works. Period. And if this bothers you, then let this be a lesson to change your perspective on life. Take care of yourself - that’s all that matters.
Just don’t get how it’s Monahan’s decision to make, without any consultation with players!
@davidskipper242
Жыл бұрын
The players are essentially contract laborers. They are not employees of PGA. Have no say so in what direction board of directors takes it in. They can come along or not
Can't stand any more players stating " it wasn't the money or I like the idea of less travel and 54 holes". BS! Guaranteed tens of millions of dollars. Hell yeah! I'll be a member of the Saudi gangsta tour!
OR has this always been part of the plan to allow the PGA to transition to a for profit organization under the guise of player benefit....I
Greg Norman on the board also?
Jay should sit on Yasir's knee......he's become his new puppet 😂😂😂
There is only one way of growing golf - set up tournaments worldwide for amateurs to play in (with reward for winning).
Congrats to Saudi. A country where golf has deep roots!
@ilgentile5454
11 ай бұрын
Money can find deep roots even to your fat a*s
@TheAliXxD
5 ай бұрын
And tell me please, what is Messi doing in USA?
Just because he’s in a suit doesn’t negate their human rights stance, and no mention of the LPGA. (Women).
I thought if you joined LIV you are ban from the pga tour for life? These board members who made this decision including Jay should be banned And fire.
Dang the Saudis own the PGA, DPWT and world golf in general. There will be more international majors added in the next few years. The PGA had the majors and history, LIV had the money, atmosphere, top players. The PGA are sellouts.
Congrats LIV!! That’s awesome
You sir lost all credibility. I will not watch anymore golf. You sold your soul and claimed it was for the good of golf. I respected the stance you took with LIV but that went out the window when you kissed the ring of the Saudis.
Just my Opinion this man needs to be fired immediately and he does live here in the USA right investors FiRE this man immediately. I think Americans need to Boycott the PGA NOW immediately 911 was no JOKE to us American PPL in the USA.. In My Opinion Democratics Republicans Independents& Golfers and PPL need to BOYCOTT & the President of the PGA should be FiRED and sponsors font back them at ALL
Great to hear
How much did they pay monahan to make the deal?
People need to chill. This was never about “Saudi” money. PGA tour tried to guilt you into being loyal and it failed. Now they see LIV is going no where and to survive they need to co-exist. This could be a great thing for the game.
@caffreys1979
Жыл бұрын
Was thinking that too but wouldn't that be a conspiracy theory? Lol
@sjones8832
Жыл бұрын
Boycott Professional Golf
@BDON
Жыл бұрын
@@caffreys1979 It's done all the time in politics. They use buzz words that connect to their audience. He was doing the same thing. He had no issue taking their money because he was way before LIV. Rory's first sponsor on PGA tour was Saudi. LPGA players have "Golf Saudi" polo's. The Saudi's may not of been investors but they had invested in some of their players.
@goth_ross
Жыл бұрын
ALot of people bought it tho. and have been regurgitating the faux moral outrage. And it was plain sad. so many lack basic critical thinking skills. Cool tosee JM dishonesty laid bare. But many wont see it.
@BDON
Жыл бұрын
@@goth_ross Nope. The cognitive dissonance is real
When PGA Tour Commissioner Jay Monahan was asked last year about his indefinite suspension of 17 players for joining the rival LIV Golf league, Monahan chastised the golfers for choosing money over morality. Because LIV gets its money from Saudi Arabia, an absolute monarchy notorious for its human-rights abuses, Monahan implied that players who chose LIV over professional golf’s preeminent league would regret their association with the kingdom. “I would ask any player that has left or any player that would consider leaving, have you ever had to apologize for being a member of the PGA Tour?” Monahan said then. But in one of the most stunningly hypocritical reversals in recent sports history, Monahan is now on Team LIV and, by extension Team Saudi Arabia. This unethical capitalist should be fired!
Can't see Jay's face with his hands around his ankles lol
Time for a brand new tour
@TOMVUTHEPIMP
Жыл бұрын
Made up of who? Korn Dog Tour players?
@MA-rf6bu
Жыл бұрын
It will still be purchased by Saudi Arabia probably.
@hosoiarchives4858
Жыл бұрын
@@MA-rf6bu lol
This world is getting more corrupt with every passing day.
@goth_ross
Жыл бұрын
sad but true. It is everywhere. Literally.
@silverman5707
11 ай бұрын
Yes deciding things for the more short term across business.
So the CEOs or bosses got together and struck a secret deal behind both tours back. Unless they're hiding other things from us. Who knows what goes on in private... anything is possible. Hilarious...
Our boss. Newcastle United and Saudi sporting dominance. Howay the Lads
@THEPINKFLOYDIANS
Жыл бұрын
Said it for years,,,, you won't hear Toon army golf fans complaining about Saudi investment.
Jay is right about it being a historic day for golf….though I’m guessing for reasons he is quite blind to….It’s a shame he sold out the sport and our civil society for money. Bet it was a good deal for him.
@silverman5707
11 ай бұрын
Yea so much for being a classier sport.
Snakes can talk. Monahan will be counted as one of history's great traitors.
How can Greg Norman or Jay Monaghan still be in charge of anything the way they both handled this whole situation.
@fauxbro1983
Жыл бұрын
What you mean? Greg Norman won lol
@ScootsFromNewCastle
Жыл бұрын
@@fauxbro1983 how did he win the world was basically told that he wasn’t involved in anything and he didn’t find out until the media told us.
@dashgerhg8772
Жыл бұрын
Greg won and Jay is the rat. What r you on???
@gunjac86
Жыл бұрын
@@fauxbro1983 I’m under the impression Greg is out of this merger. Like he’s not coming back to either and he’s just standing around with his d/$& in his hands. So yeah if that’s winning I’ll take a loss any day
@discr1709
Жыл бұрын
@@fauxbro1983 Norman’s a pawn.
Goodbye Greg, I suspect.
Good. Build me a new local course. I had two shut down this spring.