⛳️ PGAT Shuts Down Investor - Plus: Halloween golf tips, a meme, and more.
⛳️ PGAT Shuts Down Investor
Plus: Halloween golf tips, a meme, and more.
Good Morning. Welcome to Shanks.
After a week off, the Tour will be back in action next week, down in Mexico. The WWT Championship field will be highlighted by Sahith Theegala, Cameron Young, and Ludvig Aberg. This will be the first time that the Tiger Woods designed El Cardonal at Diamante Cabo San Lucas plays host and there will be bets made, you can count on that.
Here's what we've got for ya today:
PGA Turns Down Investor
Halloween Golf Tips
Shots Heard Round The World
Golf Meme
Thing We’d Buy If We Weren’t Broke
PGA Tour Turns Down Investor
Endeavor is no longer in talks with the PGAT about leading a round of investment, their President and COO Mark Shapiro said on Friday afternoon.
Endeavor, for those unfamiliar, is the majority shareholder of TKO Group, and TKO Group is the company that owns the WWE and UFC. The majority shareholder of Endeavor, is a private equity giant called Silver Lake.
We are talking big money here, folks.
Ok, So What Happened?
According to the report, the offer was about expanding a pre-existing relationship.
“Endeavor has worked with the PGA Tour in various capacities for decades. Its IMG unit sells tour sponsorships and operates the Honda Classic and PNC Championship events, and IMG Arena manages the tour’s gambling rights.
Endeavor also represents golfers and golf sponsors in other parts of its business. The group’s proposed business expansion to the PGA Tour was an all-encompassing services agreement, to cover much of the above, plus hospitality, media rights and analytics.
‘We asked for $25 million a year in services, and if they would have agreed to that, we would have been happy to make a minority investment,’ Shapiro said. ‘But we get it: They have a lot of suitors, a lot of bidders, a lot of attractive offers, and they declined. So we’ll just continue with our long-standing partnership as-is with the hopes of growing it further in the future’. ”
Got It, What’s Next?
Well, as Mr. Shapiro said above, it seems that there are other bidders and attractive offers that the PGAT likes more. Which, depending on how you read it, could mean that the PGAT is negotiating from a position of strength.
Of course, it could also mean that the PGAT is planning to proceed with the framework agreement that it has with LIV, because maybe that’s their best offer, but something tells us this isn’t the case.
Finally, Phil Mickelson took to Twitter to share his thoughts, for clarity’s sake.
For clarity’s sake, Endeavor didn’t try to invest 2 years ago, SilverLake did. Ari and Endeavor were to run 8 elevated events and the players and SilverLake would own the new elevated events 50/50 in a separate entity. October 30,2021 Ed Herlihy said the Tour would take a hostile… twitter.com/i/web/status/1…
— Phil Mickelson (@PhilMickelson)
12:58 AM • Oct 28, 2023
Halloween Golf Tips
If you find yourself on a golf course between now and Halloween night, here are some things to get you into the spirit while smashing birdies and sipping on boos!
Start with a good joke – “Where do ghosts play golf?... On a golf corpse.” Heads will roll with that one.
Switch up the cart music – Imagine the look on your playing partners face when they hear the “Ghostbusters” theme song while stepping up to the tee box. We all know Spotify has like a million premade playlists, start there!
Play with a themed ball – … and try not smashing it into the woods because nobody will hear your screams when you accidentally walk into a spider web. Check out these TP5 Pix by TaylorMade, perfect for your Halloween golf round!
Get themed glove – We did the research, and have found that the Asher Golf Death Grip gloves are totally worth it and cool as hell.
Sip on a fall beverage – Nothing says basic b*tch like a pumpkin spiced latte. Or even a Shipyard Pumpkinhead bewski. Cmon, we know you like it. If that isn’t your jam, just slam a huge bag of candy. We aren’t here to judge (so long as you share some of those Sour Patch Kids).
Enjoy your round and Happy Halloween!
Shots Heard Round The World
Golf Meme
Golf Thing We'd Buy If We Weren't Broke
Three words. Masters. Themed. Jordans. We aren’t even close to it being Masters season but also there’s no reason that you NEED it to be Masters season to celebrate. Big shout out to artist @artbyartllc for these shoes, which are in fact shoes, and not for golf. While we unfortunately couldn’t find a price for these, we do know that we’d spend a pretty penny to wear ‘em.
That’s all folks! See you Monday.