In this episode, Jay discusses the merger between the PGA Tour, DP World Tour, and LIV Golf, which will create a new entity called NuCo or Umbrella Corporation.

He explains the assets each entity brings to the table and the potential value of franchising events. Jay also emphasizes the need for guaranteed player participation to increase the value of tournaments and create a stronger identity for each event. He suggests a 50-50 split between ownership and talent, with 25% allocated to the top star players and 25% to the rank and file players. In this conversation, Jay discusses the potential restructuring of professional golf and the need for change in the industry.

He explores topics such as revenue split in professional sports, balancing ownership and player compensation, incentivizing growth in professional golf, expanding the team model, alternative sponsorship models, restructuring the golf calendar, and the future of professional golf.

Takeaways

• The revenue split between players and owners in professional sports is an important factor in determining player compensation.
• In professional golf, there is a need to balance ownership and player compensation to ensure fairness and incentivize growth.
• Expanding the team model in golf can create new opportunities for players and increase interest in the sport.
• Alternative sponsorship models, such as team sponsorship, can provide more value to sponsors and contribute to the growth of professional golf.
• Restructuring the golf calendar and moving away from the old professional golf model can drive interest and make the sport more appealing to a global audience.
• Guaranteeing player participation in key events, such as the global series and majors, can help elevate the status of these tournaments and create a more structured and competitive golf ecosystem.

Chapters

• 00:00 Introduction and Purpose of the Podcast
• 03:14 The Merger between the PGA Tour, DP World Tour, and LIV Golf
• 10:01 NuCo (Umbrella Corporation) and the Assets of Each Entity
• 23:36 The Economics of Golf and the Need for Guaranteed Player Participation
• 30:20 Franchising Valuable Events and Creating Strong Identities
• 44:07 Franchising Events on the European Tour
• 51:36 Ownership and Investment in the New Co
• 56:36 Balancing the Value of Star Players and Rank and File Players
• 57:05 Revenue Split in Professional Sports
• 58:32 Balancing Ownership and Player Compensation
• 59:36 Incentivizing Growth in Professional Golf
• 01:01:03 Expanding the Team Model in Golf
• 01:02:29 Designated Players and Team Sponsorship
• 01:03:29 Alternative Sponsorship Models
• 01:06:06 Restructuring the Golf Calendar
• 01:08:15 Moving Away from the Old Professional Golf Model
• 01:09:47 The Future of Professional Golf
• 01:13:22 Guaranteeing Player Participation

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