DIRS.INFO The most relevant business & tech news

Jay Monahan, the PGA Tour commissioner, had gone unnoticed in Venice last month. He was in town for the same wedding that had brought al-Rumayyan to Venice. If the motor sports executive spotted the PGA Tour’s leader, he would assuredly connect the presences of Monahan and al-Rumayyan, and golf’s greatest secret might get out. The civil war that had disrupted and defined the once genteel sport — for example, Monahan once publicly asked whether PGA Tour players had ever felt compelled to apologize for competing on the circuit — was abruptly suspended. The tour’s reputation was stained and many of its loyalists were furious, but its coffers were poised to overflow.

Persons: Jay Monahan, Yasir al, LIV, Stefano Domenicali, Monahan, Domenicali, — Organizations: PGA Tour, PGA, LIV Golf Locations: Venice, Italy, Saudi

☆ From ‘Pariah’ to Partner, Saudi Leader Defies Threats to Isolate Him
▼ + stars: | 2023-06-10 | by ( Ben Hubbard | ) www.nytimes.com time to read: +1 min

President Biden vowed during his quest for the White House to make the Saudi crown prince, Mohammed bin Salman, a “pariah” over the killing and dismemberment of a dissident. He threatened the prince again last fall with “consequences” for defying American wishes on oil policy. Mr. Biden, visiting Saudi Arabia last year, fist bumped Prince Mohammed when they met and regularly dispatches officials to see him — including his secretary of state, Antony J. Blinken, this past week. Senator Graham grinned next to the prince — known by his initials M.B.S. — during a visit to Saudi Arabia in April.

Persons: Biden, Mohammed bin Salman, Lindsey Graham, Prince Mohammed, “, Jay Monahan, —, Antony J, Graham grinned, Monahan, LIV, ”, Abdullah Alaoudh Organizations: White, Republican, PGA Tour, PGA, LIV Golf, Freedom Initiative Locations: Saudi, Saudi Arabia, Washington

☆ After LIV Golf, What Will Be the Next Saudi Sports Bet?
▼ + stars: | 2023-06-10 | by ( Lauren Hirsch | Michael J. De La Merced | ) www.nytimes.com time to read: +1 min

Tennis is probably the best candidate for a rival tour. And while there’s a smaller cohort of stars to recruit than in golf, a rival league would need only about a dozen players for an elite tour. Some tennis stars, including fifth-ranked Stefanos Tsitsipas, have already played in Saudi Arabia at the Diriyah tennis exhibition. The threat of Saudi competition is likely one reason the WTA raised money from the private equity firm CVC Capital this year. to own a major sports series like the PGA Tour may now be to just acquire one.

Persons: Stefanos Tsitsipas, ” LionTree’s Michael, ‘, LIV, ” — Lauren Hirsch, Donald Trump Organizations: Capital, Trump, Republican Locations: Saudi Arabia, Saudi

☆ The PGA Tour’s Antitrust Problem Isn’t Going Away With LIV Merger
▼ + stars: | 2023-06-09 | by ( Louise Radnofsky | Andrew Beaton | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/sports/golf/pga-tour-liv-merger-antitrust-7863843f

Persons: Dow Jones

☆ PGA merger with LIV a delicate balancing act, says board member Dunne
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +2 min

June 9 (Reuters) - The PGA Tour faces a delicate balancing act in welcoming back LIV Golf players while also ensuring those who stayed loyal to the U.S.-based circuit "feel good" about their decision, PGA Tour board member Jimmy Dunne said. "We have to make sure that whatever it is that we finalise, that they feel good about their decisions (to remain on the PGA Tour)... I don't think it's going to be easy and I don't think we're all going to agree, but I think we can get there." Dunne, who helped broker the merger, also said the PGA Tour was ready to "walk away" if they felt there was anything that would have hurt the game. He added the Saudi Public Investment Fund (PIF) would not control the professional game, especially with PGA Tour Commissioner Jay Monahan installed as CEO of the new entity.

Persons: LIV, Jimmy Dunne, LIV Golf, Rory McIlroy, Dunne, didn't, Jay Monahan, Rohith Nair, Toby Davis Organizations: Tour, LIV Golf, PGA, Golf, Saudi Public Investment Fund, Thomson Locations: U.S, Saudi, Bengaluru

☆ Serena and Venus Williams invest in golf with franchise ownership in Tiger Woods' new competition
▼ + stars: | 2023-06-09 | by ( Jack Bantock | ) edition.cnn.com time to read: +3 min

Now, Serena and Venus Williams are turning their talents to golf. A head-spinning week of revelations in the golf world continued Thursday as the Williams sisters’ Los Angeles Golf Club (LAGC) were announced as the first franchise of the TGL – Tiger Woods and Rory McIlroy’s tech-infused stadium golf competition set to launch in January 2024. LAGC is the first of six franchises set to compete in the TGL, a competition formed in partnership with the PGA Tour. TGL/TwitterOn Twitter, Ohanian announced that his and Williams’ daughter, Alexis Olympia Ohanian Jr., would be a co-owner in LAGC. Twelve PGA Tour players have been confirmed to feature, including Woods, McIlroy, Jon Rahm, Justin Thomas, and Collin Morikawa.

Persons: Serena, Venus Williams, Williams, Woods, Rory McIlroy’s, Alexis Ohanian, Mike McCarley, Ohanian, Alexis Olympia Ohanian Jr, “, Amy E, Price, ”, LIV Golf, McIlroy, Mike Ehrmann, Jon Rahm, Justin Thomas, Collin Morikawa Organizations: CNN, Angeles Golf, Ohanian, National Women’s Soccer League, Angel City FC, LAGC, PGA Tour, Twitter, Olympia, TMRW Sports Locations: Ohanian, Angeles, LAGC, Saudi, Palm Beach , Florida

☆ Fact Check-Image of Donald Trump playing golf altered to make him appear older
▼ + stars: | 2023-06-08 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A photograph of former U.S. President Donald Trump playing golf in 2022 has been altered to make him appear older and larger. One June 6 tweet shared the image with the text, “An actual photo from today” (here). The unaltered image was published by various media outlets at the time, including The Independent and USA Today (here), (here). The altered image resurfaced online after the PGA Tour, DP World Tour and Saudi-backed LIV circuit announced a shock merger on June 6 (here), a deal praised by Trump (here). The image was altered to make Trump appear older and larger.

Persons: Donald Trump, Seth Wenig, LIV, Trump, Read Organizations: Associated Press, Bedminster, Independent, USA, PGA, Trump, Reuters Locations: Bedminster , New Jersey, Saudi

☆ Saudi Arabia's cold-blooded crown prince keeps winning
▼ + stars: | 2023-06-08 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +3 min

The recent PGA-LIV golf merger is the latest example of growing Saudi influence on sports. Originally viewed as a deep-pocketed but unserious distraction from the PGA Tour, they effectively muscled into the picture through sheer financial willpower. The new PGA Tour might look a whole lot like the old one, except with a far wealthier outside party controlling the purse strings. And that's kind of been the Saudi strategy as Crown Prince Mohammed bin Salman has expanded his influence over multiple sports worldwide. Detailed below are the six recent high-profile examples of how the Saudi PIF keeps winning:

Persons: Mohammed bin Salman, LIV, Prince Mohammed bin Salman, Prince Mohammed's, Jamal Khashoggi, Saudi PIF Organizations: Saudi Public Investment Fund, Morning, PGA, LIV, PGA Tour, English Premier League team, Saudi, league, Prince, CIA Locations: England, Saudi, Saudi Arabia

☆ Alexis Ohanian and Serena Williams are building a mini-sports empire in Los Angeles
▼ + stars: | 2023-06-08 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +4 min

Alexis Ohanian and the Williams sisters have bought another sports team to bring to Los Angeles. Ohanian and the Williams sisters are the first to buy a TGL golf league team. Ohanian is already the principal owner and founding investor of LA's National Women's Soccer League team, Angel City FC. Alexis Ohanian said in a tweet that their daughter Olympia is also a co-owner of the new golf team. A rendering of the TGL golf league venue in Florida.

Persons: Alexis Ohanian, Williams, Tiger Woods, Rory McIlroy, Ohanian, Serena Williams, Venus, Eva Longoria, Jessica Chastain, Christina Aguilera, Charles Krupa, Woods, McIlroy, Mike McCarley, McIIroy, Justin Thomas, Jon Rahm, LIV Golf, LIV, Phil Mickelson, Brooks Koepka, There's, LIV Golf's Organizations: TGL, Angel City FC, Morning, Los Angeles Golf Club, NFL, MLB, NBA, NHL, MLS, Seven, Los, LA's, Women's Soccer League, Williams, Serena Ventures, TMRW Sports, PGA, NBC Sports, Golf, PGA Tour, Tour, Masters Locations: Los Angeles, Angeles, Olympia, Palm Beach , Florida, Florida, Saudi Arabia

☆ Alexis Ohanian and Serena Williams are building a mini-sports empire with a new golf team that's part of a league created by Tiger Woods and Rory McIlroy
▼ + stars: | 2023-06-08 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +4 min

It's the first team for TGL, a new pro golf league established by Tiger Woods and Rory McIlroy. The couple, along with Williams' sister Venus, have bought the first golf team for TGL, a new league developed by golf greats, Tiger Woods and Rory McIlroy. Ohanian and the Williams sisters are the first to buy a TGL golf league team. Alexis Ohanian said in a tweet that their daughter Olympia is also a co-owner of the new golf team. A rendering of the TGL golf league venue in Florida.

Instead, Mr. Messi appears to be headed to Inter Miami, the M.L.S. team co-founded by David Beckham. It’s a sign that near-limitless oil money can’t buy everything — but the complicated arrangements to bring Messi to Florida also hint at what it takes to trump Saudi riches. What Mr. Messi stands to get: Contract details haven’t been released, but what’s known about Inter Miami’s offer to the Argentine star includes a roster spot free from the limits of M.L.S. salary rules and, highly unusually, an ownership stake in Inter Miami once his playing career ends.

Persons: David Beckham, LIV —, Lionel Messi, Mr, Messi, It’s, haven’t Organizations: Inter Miami, Inter, Adidas, Apple Locations: Saudi Arabia, Florida, Saudi, Argentine, M.L.S

☆ Opinion: The impact of PGA Tour-LIV Golf deal goes far beyond sports
▼ + stars: | 2023-06-08 | by ( Aaron David Miller | ) edition.cnn.com time to read: +8 min

Yet, these days, the sad truth is that Saudi Arabia has no need for sportswashing. And in December 2019, Saudi Arabia became president of the G-20, hosting a virtual summit because of the Covid-19 pandemic. The golf deal is a reminder that “money money money” is a formidable diplomatic political tool. A US brokered deal between Israel and Saudi Arabia would be a powerful counterpoint to China’s recently facilitated Iranian-Saudi détente. Of course, one can hardly be shocked to learn that where’s there’s money, golf and Saudi Arabia, there just might be a Trump angle as well.

Persons: Aaron David Miller, ” Miller, LIV Golf, Joe Biden’s, it’s, we’ve, you’re, Jamal Khashoggi, , Cristiano Ronaldo, Sen, Richard Blumenthal, Blumenthal, Biden, Saudi Crown Prince Mohammed bin Salman, It’s, LIV, can’t, Zelensky, Bashar al, Assad, Mahmoud Abbas, ”, Jake Sullivan, Antony Blinken, Trump, Eric Trump, Facebook George Orwell Organizations: Carnegie Endowment, International Peace, Democratic, Republican, CNN, PGA, English Premier League soccer, One, LIV, PGA Tour, Washington Post, Saudi Crown, MBS, Arab, US National, Trump, Twitter, Facebook, Saudi Locations: East, Saudi, United States, Saudi Arabia, Washington, Berlin, Sochi, Davos, Connecticut, China, Russia, Ukraine, Iran, Israeli, Israel, Iranian, Britain

☆ Ohanian and Williams sisters taking up golf with TGL ownership
▼ + stars: | 2023-06-08 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

June 8 (Reuters) - In a week that has seen a reshaping of golf's landscape a new player emerged on Thursday with Reddit co-founder Alexis Ohanian, Serena and Venus Williams securing the first franchise in the TGL, the tech-forward team golf league developed by Tiger Woods. "I knew I wanted to do this team and I knew I wanted to bring Serena in so I was like, babe come on board," Ohanian told Reuters. Ohanian, Serena and her sister Venus are the first of what will be six team ownership groups that will make up TGL, an innovative, new primetime golf league that fuses technology and live action. For the Williams sisters, who emerged from the hard-scrabble streets of Compton to reign over the tennis world, TGL will represent another opportunity to give back to their community and open more doors in another sport. While he is a board member of the Tiger Woods Foundation, Ohanian said golf was not on his radar until Olympia began taking up the sport.

Persons: Reddit, Alexis Ohanian, Venus Williams, Tiger Woods, LIV, Serena, Ohanian, Venus, Woods, Jon Rahm, Rory McIlroy, Williams, Olympia, Steve Keating, Ed Osmond Organizations: PGA, of Fame, Los Angeles Golf Club, Reuters, Angel City FC, NFL's Miami Dolphins, Tiger Woods Foundation, Olympia, Thomson Locations: Serena, Saudi, Palm Beach , Florida, Compton, Los, Olympia, Toronto

Concluding his visit on Thursday, Secretary of State Blinken told reporters he raised human rights issues with Saudi officials and "made clear that progress on human rights strengthens our relationship." "Human rights are always on the agenda of the United States - that’s who we are," he said during a news conference. But some rights advocates argue the golf deal shows the administration has chosen geopolitics over human rights. New York-based Human Rights Watch (HRW) says scores of human rights activists and dissidents are in prison or on trial in Saudi Arabia and that the repression "spiked" following Biden's visit last year. The list included prominent cleric Salman al-Odah, children of former spy chief Saad al-Jabri, human rights defender Mohammed al-Qahtani and aid worker Abdulrahman al-Sadhan.

Persons: Saudi Crown Prince Mohammed bin Salman, Joe Biden, Prince Mohammed bin Salman, Jamal Khashoggi, LIV, Antony Blinken, Blinken, Biden, Seth Binder, Prince Faisal bin Farhan, Sarah Yager, Salman al, Saad al, Mohammed al, Abdulrahman, Saad Ibrahim Almadi, Tess McEnery, Humeyra Pamuk, Simon Lewis, Arshad Mohammed, Don Durfee, Daniel Wallis Organizations: Saudi Crown, Al, Saudi Royal Court, REUTERS, Saudi, Public Investment Fund, North, MbS, PGA, East Democracy, Biden, Rights Watch, Saudi Foreign, U.S, Twitter, Thomson Locations: Jeddah, Saudi Arabia, Bandar, REUTERS RIYADH, WASHINGTON, U.S, Riyadh, Washington, United States, Yemen, New York, China, Israel, OPEC, Russia, Florida

☆ McIlroy welcomes return to action but LIV still very much in mind
▼ + stars: | 2023-06-08 | by ( Frank Pingue | ) www.reuters.com time to read: +2 min

[1/3] Jun 7, 2023; Toronto, ON, CAN; Rory McIlroy speaks with the media during press conferences for the RBC Canadian Open golf tournament. Let's just focus on our golf and we'll say what we want to say when we get inside.'" McIlroy has been the PGA Tour's most outspoken golfer against LIV Golf and the last two days, which included his much-anticipated press conference on Wednesday, took a toll. While it may not have been his best performance, McIlroy was just happy to be back on the course. "So it was nice to play a round of golf and focus on something else for those five hours we were out there," said McIlroy.

Persons: Rory McIlroy, Dan Hamilton, Justin Rose, McIlroy, Rose, LIV, Rosie, LIV Golf, he's, Steve Stricker, Frank Pingue, Ed Osmond Organizations: RBC Canadian, Sports TORONTO, Canadian, Oakdale Country Club, PGA Tour, Saudi Arabia's Public Investment Fund, Saudi, John Deere, Thomson Locations: Toronto, Canada

☆ Rory McIlroy Still Hates LIV Golf
▼ + stars: | 2023-06-07 | by ( Andrew Beaton | Louise Radnofsky | ) www.wsj.com time to read: 1 min

Persons: Dow Jones, rory, mcilroy

Persons: Dow Jones

☆ How the PGA Tour and LIV Golf Fought Each Other Into a Merger
▼ + stars: | 2023-06-07 | by ( Andrew Beaton | Louise Radnofsky | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Locations: saudi, arabia

☆ The PGA and LIV Golf Merger Is the Revenge of the Saudi ‘Pariah’
▼ + stars: | 2023-06-07 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Persons: Dow Jones, biden, d58fd17a Locations: saudi, arabia

☆ A Stunning Merger Angers Athletes
▼ + stars: | 2023-06-07 | by ( David Leonhardt | ) www.nytimes.com time to read: +1 min

After the Saudi government created an upstart professional golf tour in 2021 to compete with the PGA — the world’s most prestigious tour, based in the U.S. — top PGA executives set out to destroy the new venture. They banned golfers who signed up with the Saudi tour, known as LIV Golf, from PGA events and put intense pressure on other golfers not to join LIV. PGA executives also complained to members of Congress about Saudi Arabia’s human rights record. “Have you ever had to apologize for being a member of the PGA Tour?” Monahan asked on national television. It was all part of a campaign to undermine LIV, even if doing so required damaging the reputations of leading golfers.

Persons: LIV, Jay Monahan, ” Monahan Organizations: PGA, Saudi Locations: Saudi, U.S

The New York Times Audio app includes podcasts, narrated articles from the newsroom and other publishers, as well as exclusive new shows — including this one — which we’re making available to readers for a limited time. Download the audio app here. The Headlines brings you the biggest stories of the day from the Times journalists who are covering them, all in about 10 minutes. Hosted by Annie Correal, the new morning show features three top stories from reporters across the newsroom and around the world, so you always have a sense of what’s happening, even if you only have a few minutes to spare.

Persons: Annie Correal Organizations: New York Times, Times

☆ Golf’s new Saudi deal presents questionable political, business and sporting realities
▼ + stars: | 2023-06-07 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

And the deal is also undeniably a great piece of business, assuming PGA Tour players accept it. And all pending litigation between LIV Golf and the PGA Tour was also mutually ended under the new agreement. He “co-opted the 9/11 community last year in the PGA’s unequivocal agreement that the Saudi LIV project was nothing more than sports washing of Saudi Arabia’s reputation,” the group said in a statement. Unresolved sporting conundrumsThere are as many sporting questions about the PGA Tour/LIV Golf partnership that remain unanswered. Then there is the question of how current PGA Tour members will respond.

Persons: LIV Golf, Arnold Palmer, Jamal Khashoggi, Prince Mohammed bin Salman, –, LIV –, Jay Monahan, Monahan, ”, “, Saudi LIV, ” Monahan, Dustin Johnson, Phil Mickelson, Patrick Reed, Cam Smith, Donald Trump, LIV, Trump, Khashoggi, ” Trump, Joe Biden, Antony Blinken, Tuesday’s LIV, Qataris, Cristiano Ronaldo, Karim Benzema, ” Yasir Al, Rumayyan, of Famer Greg Norman, Collin Morikawa, Mickelson, Alan Shipnuck, Shipnuck Organizations: CNN, PGA, Saudi, Post, Premier League, Global, Families United, Saudi shills, Crown, Formula One, NBA, Tour, Qatar, Soccer, Manchester City, United, Newcastle, Indian Premier League, Al, Real, Saudi Public Investment, “, Saudi Public Investment Fund, CNBC, of Famer, Open, Twitter Locations: Washington, Saudi, Qaeda, Riyadh, China, Western Europe, East, India, United Arab Emirates, Saudi Arabia, Ittihad, Real Madrid, French

☆ Here are Wednesday's biggest analyst calls: Apple, Amazon, Match, Netflix, Nvidia, Topgolf & more
▼ + stars: | 2023-06-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Wednesday's biggest calls on Wall Street: JPMorgan reiterates Netflix as overweight JPMorgan raised its price target on the stock to $470 per share from $380 and says it's bullish on paid sharing. "We are raising our price target from $205 to $220 to reflect increased confidence in this upcoming iPhone cycle and reiterate Apple as an OUTPERFORM and Wedbush Best Ideas List name." Piper Sandler reiterates Amazon as overweight Piper raised its price target on Amazon to $150 per share from $130 and said it sees Amazon Web Services revenue bottoming later this year. Bank of America reiterates Nvidia as buy Bank of America said it sees "sustainable AI growth" for shares of Nvidia. " Jefferies reiterates Topgolf Callaway Brands as buy Jefferies said the combination of PGA and Liv Golf is bullish for Topgolf.

Persons: it's bullish, Wells, Wedbush, Morgan Stanley, Piper Sandler, Piper, We've, YTD, Canaccord, Mobileye, Rosenblatt, it's, Jefferies, Topgolf, Liv, bullish Organizations: JPMorgan, Netflix, Apple, AWS, Computer, Micro, Supermicro, Barclays, Bank of America, Nvidia, Broadcom, Topgolf Callaway Brands, UBS Locations: 2H23, GKOS, Midcap, Edgewater

☆ PGA Tour, LIV merger may lead to higher viewers and costs for golf sponsors
▼ + stars: | 2023-06-07 | by ( Sheila Dang | ) www.reuters.com time to read: +4 min

The move ends a bitter legal battle between the organizations that has split the golf world and its top players. The organizations said on Tuesday they will work to allow a process for LIV Golf players to reapply for membership on the PGA Tour and DP World Tour. The potential for top players to compete on other tour events will help boost ratings, experts said. It is unclear how broadcasting rights for the TV networks that sell commercial time during golf events could change in the long term. The CW network, which airs LIV Golf in the U.S., said there is no change to the event schedule in 2023, while NBC Sports, which airs some PGA Tour events, said it was still learning about the announcement.

Persons: LIV, Paul Childs, Neal Pilson, I've, Michael Goldman, LIV Golf, Patrick Rishe, St . Louis, Pilson, Jamal Khashoggi, Goldman, Sheila Dang, Dawn Chmielewski, Lisa Richwine, Matthew Lewis Organizations: Centurion Club, LIV Golf, REUTERS, PGA, Pilson Communications, CBS Sports, National Golf Foundation, CBS, CW, LIV, NBC Sports, Nexstar Media Group, Comcast, University of San, Washington University, Brands, Public Investment Fund, Saudi, Washington Post, Thomson Locations: Hemel Hempstead, St Albans, Britain, Saudi, United States, U.S, University of San Francisco, St ., Saudi Arabia, Dallas, Los Angeles

☆ The Merger of LIV Golf and the PGA Tour: Here’s What to Know
▼ + stars: | 2023-06-07 | by ( Kevin Draper | ) www.nytimes.com time to read: +2 min

The PGA Tour and LIV announced Tuesday the creation of a new entity that would combine their assets, as well as those of the DP World Tour, and radically change golf’s governance. The PGA Tour would remain a nonprofit organization and would retain full control over how its tournaments are played. This is how Jay Monahan, the commissioner of the PGA Tour, answered questions Tuesday about what golf might look like in the future. “I don’t want to make any statements or make any predictions.”Will LIV golfers go back to the PGA Tour and DP World Tour? Will PGA Tour players, many of whom spurned LIV and its huge paydays, receive compensation?

Persons: LIV, ” NewCo, Yasir al, Jay Monahan, Will LIV, ” Monahan Organizations: PGA, Public Investment Fund, LIV, PGA Tour

Search resuls for: "PGA"

25 mentions found