By: Eric Fruits (Truth On The Market)
In a surprising turn of events, the merger between the PGA Tour and LIV Golf has taken center stage, overshadowing the long-standing antitrust debates surrounding “Big Tech.” This unexpected development in the golf industry brings together various elements that capture attention: sports, substantial financial investments, renowned personalities, controversial associations, and cringe-worthy attempts at public relations.
Beyond the attention-grabbing aspects, the PGA-LIV merger raises significant concerns for antitrust regulators.
A mere two years ago, LIV Golf emerged as a formidable competitor to the PGA. In under a year from its inception, LIV organized its inaugural tournament at Trump National Doral Miami.
LIV made a grand entrance into the golfing world, attracting top talent and securing industry veteran Greg Norman as its Chief Executive Officer. The roster also boasted the participation of Phil Mickelson, a Hall of Fame golfer and three-time Masters winner. According to National Club Golfer, LIV distributed an impressive $255 million in prize money and bonuses to players. The publication estimates that 52 golfers earned at least $1 million last year by joining LIV. The organization introduced an innovative team-based format, adding a fresh dimension to professional golf…
