LIV Golf returns to New Jersey for a tournament in Bedminster Aug. 11-13 as the league continues negotiations with the PGA Tour and the DP World Tour over some sort of combination that would unite the upstart and the sport’s establishment.
Last year’s winner, Henrik Stenson, will defend his title against some of the world’s top players, such as Cam Smith, Dustin Johnson, Bryson DeChambeau, Phil Mickelson and Brooks Koepka. All were lured by big money – LIV is backed by Saudi Arabia’s sovereign wealth fund and has been spending freely to shake up the usually staid world of professional golf. And it has ruffled feathers even away from the links.
All that cash, the Saudis’ involvement and the potential to create a new giant in the sports industry have drawn scrutiny from Congress and antitrust regulators. The outcome of the negotiations and a potential response from Washington could change the business of golf – which New Jersey benefits from – in unpredictable ways.
In this edition of NJBIZ Conversations, Kevin Moyer – a partner at Sax LLP who leads the firm’s Transaction Advisory Services practice – discusses the progress of the talks and the possible fallout from their success – or failure.