Players are receiving a portion of a nearly $1 billion equity share for staying loyal to the PGA Tour amid lucrative recruitment by LIV Golf.
The bulk of that money — $750 million — went to 36 players based on their career performance, the last five years and how they fared in a recent program that measured their star power.
The private equity group, a consortium of professional sports owners led by the Fenway Sports Group, made an initial investment of $1.5 billion that could be worth $3 billion. The tour is still negotiating with the Public Investment Fund of Saudi Arabia — the financial muscle behind the rival LIV Golf league — as an investor.
Jason Gore, the tour's chief player officer, said in one of the videos, “It's really about making sure that our players know the PGA Tour is the best place to compete and showing them how much the Tour appreciates them being loyal.” Players only get equity shares from one of the four tiers now, although everyone would be eligible for the recurring grants.
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