TLDR:
Key Points:
- PGA Tour Enterprises offers over $900 million in ownership holdings to its members.
- Billy Horschel, an 8-time PGA Tour winner, believes that this equity share is a good move.
Key Elements of the Article:
During the past two years, the PGA Tour has faced challenges with the emergence of the Saudi-backed LIV Golf circuit. In response, the PGA Tour has introduced PGA Tour Enterprises, offering over $900 million in ownership holdings to its players to retain top talent and attract potential defectors. Billy Horschel, in a podcast, expressed his approval of this move, stating that it aligns players’ interests with the growth of the PGA Tour. He believes that this equity share will motivate golfers to understand and contribute to the PGA Tour’s success.
The Strategic Sports Group (SSG) holds a stake in PGA Tour Enterprises and aims to leverage the financial prospects of the PGA Tour for growth. While the equity share may not yield immediate results, it signifies a shift towards a more collaborative model. By offering players ownership positions, the PGA Tour aims to foster a sense of ownership and encourage active participation in the organization’s development.
Author Bio:
Aryan Sharma is a Golf Writer at EssentiallySports, with a strong passion for the sport. He specializes in covering stories about golf legends like Tiger Woods and Bryson DeChambeau.