PGA Tour and LIV Golf given bleak verdict as two competitions 'near £1bn peace deal'

Former captain Paul McGinley has sounded the alarm over the current spending frenzy in golf, cautioning that the massive influx of cash from both the and is unsustainable.

Since LIV Golf's inception in June 2022, there's been an unprecedented financial battle with the PGA Tour, as both entities have been injecting colossal sums into the sport. Prize funds have soared, with LIV Golf setting a high bar by offering £20 million for each of their events.

In response, the PGA Tour has launched its Signature Events programme, allocating a hefty £15.4 million prize fund for each tournament within this new category.

Despite these lucrative moves, McGinley expressed his concerns to the about the future implications for golf. "Its not sustainable now," he remarked.

"Financially the PGA Tour can not keep up this level unless something changes. LIV, for everybody who says the Saudis have got loads of money, they are not a charity.

"They are not going to keep giving money away and burning whatever it is $40 to $50million bucks per tournament. There's no traction really in terms of the public watching. There's no TV deal in place. There's no corporate sponsors in place. It's a big, big ask to be spending several billion dollars that they've already put in to it."

McGinley, the victorious 2014 Ryder Cup captain for Europe, has scrutinised the current golf landscape and suggests only top players are reaping riches. "The only people that are winning are the players on both sides," McGinley opined, hinting at the lucrative financial gains in the sport.

Specifically highlighting the boost for professionals like Shane Lowry and Ian Poulter due to the LIV Golf Series, he added: "If you're Shane Lowry, for argument's sake, you're making three or four times the money you were before LIV. Life's never been better. And if you're Ian Poulter or Lee Westwood you're making three, four, five times the money. Life's never been better."

Meanwhile, reports have claimed that a possible . After revealing plans for an astonishing agreement last June, it appears conversations between the PGA Tour and Saudi Arabia's Public Investment Fund (PIF) could be coming to fruition.

As per claims by , a monumental agreement has been reached, with PIF set to infuse an extraordinary £1billion into the PGA Tour. This arrangement might soon see LIV Golf operate within the PGA Tour's sphere, granting PIF an 11 per cent ownership stake and two board seats, including a chairman slot.

There is also further speculation that Saudi investment will also bolster a PGA Tour-established fund, which is dedicated to rewarding those players who remained steadfast with the Tour amidst the temptation of LIV's substantial financial incentives.