Report: LIV Golf backers setting up compensation fund for PGA Tour loyalists

Tiger Woods, Rory McIlroy, Jon Rahm and other PGA Tour stars are reportedly set to receive millions of dollars with LIV Golf compensation fund.

Ben Smith

15 Jun 2023

Report: LIV Golf backers setting up compensation fund for PGA Tour loyalists

Rory McIlroy, Jon Rahm, Tiger Woods and more PGA Tour loyalists will be receiving millions of dollars as LIV Golf's Saudi investors are organising a compensation fund, according to a report.

Per The Times of London, it is said the Saudis want to reward those who stayed loyal to the PGA Tour and rejected their mind-boggling offers.

The news comes a week after PGA Tour commissioner Jay Monahan announced a 'landmark agreement' to 'unify the game of men's professional golf' by partnering with LIV's financiers, the PIF of Saudi Arabia.

That stunning move will see the PIF partnering with the PGA Tour and DP World Tour. The proposal is to create a new, for-profit venture with Monahan acting as the chief executive and Saudi businessman Yasir al-Rumayyan as the chairman.

There are a number of questions about it and the 'deal' is already under scrutiny by US lawmakers.

Monahan has now stepped away from his day-to-day duties over what has been described as a 'medical issue'.

He faced a barrage of criticism from some PGA Tour members and golf fans. McIlroy, despite acknowledging the hypocrisy from the chief executive, insisted that he still supports Monahan.

According to FirePit Collective reporter Alan Shipnuck, Monahan is said to be 'recovering well' and eager to get back to work.

Reported The Times:

"The plan would allow players such as Phil Mickelson, Lee Westwood and Sergio García to keep the money they were paid to join LIV Golf but would also hand leading players on the PGA Tour substantial payments from the new entity to “level up” their financial rewards, according to a source with knowledge of the proposal.

"The amount of money the players would receive has not yet been determined, and players preparing for this week’s US Open still do not have any details of how the new partnership will work or how it will shape the tour."

Elsewhere according to the report, it is said LIV Golf will be 'phased out' by the end of this year and replaced with a much smaller 'team event structure'.

Norman has insisted that he was told from the top that LIV Golf will continue over the next few years.

A source is said to have told the paper:

"It is a plan that is not in final form or has final agreement. There are some people talking about this but it is not agreed yet or is it a fait accompli."

McIlroy has previously been quoted as saying he believes players should be compensated.

"The simple answer is yes," said McIlroy, before adding: "The complex answer is, how does that happen?"