Peter Malnati: PGA Tour-SSG deal is ‘great’ for golf’s present, future | Golf Central | Golf Channel

Peter Malnati joins the Golf Central crew to discuss the recent PGA Tour-SSG deal and its implications including why he believes it’s a beneficial partnership for golf’s present and future. #GolfChannel #GolfCentral #PGATour
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Peter Malnati: PGA Tour-SSG deal is ‘great’ for golf’s present, future | Golf Central | Golf Channel
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Callaway and hello again and welcome I’m
rich learner from the AT&T Pebble Beach
proam well the Winds of Change roaring
not just across Pebble Beach going to be
a rough weather week but the entire
landscape of professional golf big news
today with the announcement of a
partnership between the PGA Tour and the
private Equity Group strategic Sports
Group s SG this is a for-profit venture
ssg’s investment in what is called PGA
Tour Enterprises worth up to three
billion dollar PGA Tour members gaining
access to a billion and a half in equity
in PGA T Enterprises they will be owners
this is unprecedented in sport player
grants which vest over time will be
based on Career achievements think about
Tiger Woods and future participation and
the deal does leave room for a future
co-investment from the Saudi Arabian
public investment
fund wondering about SSG these are power
players in American team sports Arthur
Blank of the Atlanta Falcons Steve Cohen
New York Mets John Henry principal owner
Fenway Sports Group they own the Boston
Red Sox Liverpool FC from the Premier
League Pittsburgh Penguins of the NHL
the owner of the Milwaukee Brewers and
with grpc as well the owner of the
Boston Celtics so an enormous
development in professional
golf Peter thanks for being with us why
in your estimation is this a good deal
for you know the likes of Rory Mary the
you know the higher end and and guys
like you and everybody uh across the
board well that’s a great question and
um this morning I thought it was so
fitting uh we had a full membership call
uh where Jay and U John Henry the
principal from SSG um
they they spoke to the group they
revealed that the deal had been uh
finalized and approved last night to to
the entire membership of all three PG
Wars um and it was cool after after J
Monahan spoke John Henry and Sam Kennedy
um spoke from uh from SSG then tiger
spoke to his excitement about this deal
and how he thinks this Shores up you
know the PJ tour uh for today and the
future and one thing that tiger has been
adamant about that and I have talked
about that he’s talked about with the
player uh directors as a whole is he’s
he’s thinking about the PJ tour that
Charlie Woods is going to play on one
day that he helps Charlie Woods will
plan he that that’s that’s where his
legacy goes now it’s not just the you
know the all he’s accomplished on the
course it’s what he’s going to leave for
these other guys but for Tiger to then
say though this is a good deal for me
it’s a good deal for what it does for
the future of the tour for a player like
my son um and then for me to follow that
up I was the next one to speak I speak
after Ty and say yo you you just heard
from tiger that he’s genuinely excited
about this deal as as you know arguably
the greatest player in the history of
our sport I am uh I’m in my 10th year on
the PGA tour and my best finish in the
feds cup ever is 86th and this is a
great deal for me as well why because it
Shores up the uh it provides an
incredible amount of Financial Security
for the PJ tour immediately right now in
a very very very tumultuous time you
know part of the SSG deal was a
commitment to player comp for the next
five seasons um which you know that’s a
big deal right now with the competitive
threat we have and just all the turmoil
around professional golf um so
immediately that’s the answer um the
player directors worked really hard to
make sure I’m sure the player Equity
program is something that’s been talked
about a lot today so far we worked
really hard to make sure that that
doesn’t just reach the top players it
reaches all fully exempt members on the
PGA tour so you know while my piece of
that and deservedly so won’t be big
right now I will have a stake in what
the PGA Tour is doing and all all the
guys like me who have you know played
out here earned the right to be ful
exempt tour players but maybe haven’t uh
you know achieved all they want to um
they’re they’re going to have a stake in
the PJ tour and be a stakeholder and and
be motivated to help build this product
to make it better and better and better
for all of our constituents our sponsors
our fans um our our Media Partners um so
I think I think that’s those are the two
things it there’s a lot of things but
those are the two things that
immediately come to mind it Shores up um
it provides so much security to the tour
right now in a tumultuous time and it
gets all players all exempt players on
tour aligned um and incentivized to help
make this tour even better for for
everyone is this Equity piece for
players is it something that you have to
vest in sort of like the retirement
program I know there’s a lot of not not
a lot of details yet but exactly and you
know as it should be that I think that’s
that’s pretty uniform across um across
Corporate America too you know with with
Equity um you you have to invest it’s a
retention tool and obviously um you know
it’s something that is important to our
members it’s going to be valuable for
our members um but it also comes with
comes with the deal you you’ve got to
stick around you’ve got to earn it with
uh with loyalty and and you’ve got to
perform you got to stay on tour um to to
vest those you know those that those
shares Peter uh one of the questions I
would have is the 501c3 status that the
PGA Tour have this is separate away from
that but if the profit that comes from
this is going to be fed back in to the
PGA Tour is is it is it going to be
sustainable to keep that status so um
that that question is obviously way
above my my pay grade but I have learned
a ton about that and um so the you know
the tour every every part of this deal
that was something that was important
both to the leadership of the tour and
SSG once they realized our structure
that we were able to maintain that
because I think there’s a lot of benefit
to um the 501 C6 uh status that the tour
has and with you know professional tax
advisors that are very sophisticated uh
both parties feel really confident that
we are going to be able to grow the
business while maintaining the tax
exempt status at the um at the PJ tour
incorporated level
do idea that an agreement likely will be
forged be between this new entity and
the public investment fund of Saudi
Arabia do you you have any res
reservations at all on that front given
how fraught and complex geopolitics are
in in this day and age that that if they
end up on the wrong side of of something
you guys in a in a much more public
front-facing business than say you know
Starbucks or wherever else they’re
invested you know you have any
reservations at all about that you know
so I
I I personally of course
um when when the announcement of June
6th came
I I I did have reservations for sure um
and you know to this point I still am
very very uncertain of of how those
negotiations are going I know both
parties um the PJ tour and our new
investment partner uh SSG um feel
comfortable with the talks they’re
having um and so that process is is
going to play out and I’m going to
reserve judgment for now for sure um but
I I that that there it’s obviously a
fraud issue yeah uh Peter uh
congratulations I mean I know how hard
you and and tiger and everybody else uh
worked to get to this
point you know everybody feels pretty
positive about uh this first step going
forward after all of the uncertainty and
all the tumult this is actually I mean
this is absolutely a day to celebrate
like like the the you know the PJ tour I
think I think it has historically been
the ultimate place in the world for for
professional golfers and and um this is
just a step to cement that okay and also
hats off you got your hat right there to
uh Monterey Peninsula Foundation AT&T uh
for bringing us all together on this
momentous day and four good ones are
going to be wild with this weather thank
you for stopping by wish you the best
this week have a great tournament uh and
battle it out against Mother Nature hour
coverage gets underway tomorrow round
one of the AT&T Pebble Beach proam uh
3:00 Eastern time it streams as well on
peacock same on Friday and then early
round coverage Saturday and Sunday at
1:00 Eastern and as well on peacock a
great thanks to Peter Mady all of our
guests our hardworking crew up here that
had to scramble to put it all together
for Paul McGinley and Johnson Wagner I’m
rich learner so long for now from Pebble
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Beach
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