Legal documents highlight PGA Tour’s dismissive view last yearEuropean Tour Group described as ‘underinvested’
The PGA Tour regarded the European Tour Group as an “underinvested and borderline distressed asset” during analysis aimed at facilitating a merger between the parties last year.
Through the proposed deal, the PGA Tour had targeted financial benefit from the Ryder Cup, a competition which is the domain of the ETG and the PGA of America. The merger was projected to cost the PGA Tour between $40m (£31.5m) and $60m by way of a “reserve fund” over five years.
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