Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Business Pete Bevacqua talks PGA

Pete Bevacqua. (Photo by Sam Greenwood/Getty Images)

By Savannah Young Leaders Staff

Savannah Young

Savannah Young

News Writer

Savannah Young is a news writer for Leaders Media. Previously, she was a digital reporter for WATE Channel 6 (ABC)...

Full bio


Learn about our editorial policy

Aug 30, 2022

PGA Tour Gets Key Vote of Confidence

Despite the quick rise of PGA competitor LIV Golf, NBC says it’s not worried about it.

Key details
While NBC was in the midst of securing sports deals for its channel, NBC Sports Chair Pete Bevacqua says he is not concerned that LIV Golf will be a significant rival for the PGA Tour. 

“There’s no tour like the PGA Tour,” he said in an interview. “It’s without peer.”

LIV Golf has been luring players away from the well-established PGA Tour with huge financial payouts and other perks. Recently, in an effort to fight back, the PGA Tour awarded some of its players a guaranteed income for the first time ever.

Bevacqua says that NBC is confident in the PGA Tour and the decisions it has been making. He said that NBC will “keep an eye on everything,” but they do not seem to be straying from the PGA anytime soon. 

Why it’s news
NBC is a key broadcast partner of the PGA Tour. For it to provide support and show confidence will reassure the public and the current PGA Tour players that the venerable golf circuit is the place to be.

And by renewing its broadcast agreement, it suggests that the PGA Tour has a solid future.

Backing up a bit
LIV Golf is a well-financed startup tour trying to compete with the PGA Tour, which sanctions the bulk of pro golf in the country for more than 100 years. LIV is backed by the Public Invest Fund, led by the kingdom of Saudi Arabia.

LIV has pulled many big name golfers away from the famous tour with promises of hefty checks—creating tremendous tension in the world of golf. For example, LIV will pay Phil Mickelson $200 million to play in the tour, which is nearly double what legend Tiger Woods has earned in prize money during his entire career. 
LIV gave the world’s number-one golfer Dustin Johnson a four-year, $125 million contract, double his lifetime earnings of $74 million. Along with players, LIV has also been adding some big names to its broadcast team. In recent weeks popular golf commentator David Feherty joined the startup tour as a broadcast analyst and continues to add big names to its roster.

Home / News / PGA Tour Gets Key Vote of Confidence
Share
FacebookTweetEmailLinkedIn

Related Stories

A 10th Consecutive Interest Rate Hike 

by Tyler Hummel Leaders Staff
Public Policy

4 hours ago

The Federal Reserve announced another 25-basis-point interest rate hike, marking the 10th consecutive hike bump in 14 months.  

Key Details

  • Federal Reserve Chair Jerome Powell ended the May Fed meeting by announcing that another 25-basis-point interest rate hike is being implemented, bringing rates to 5% to 5.25%. 
  • Stocks saw a brief bump after the announcement before taking a larger dive afterward, with major indexes mostly breaking even in the hours leading up to the market closing. 
  • Powell acknowledged that an additional rate hike in June might be necessary, depending on how receptive the economy is to the new rates.

Go deeper

FacebookTweetEmailLinkedIn

These Hidden Real Estate Fees Cost Buyers

by Hannah Bryan Leaders Staff
Real Estate

5 hours ago

real estate fees

Home buyers might end up paying more than expected with hidden administrative fees realtors have begun adding on. 

Key Details

  • When purchasing a home, buyers are subject to many fees that raise the overall payment, but one newer fee is frustrating buyers. 
  • These administrative or transaction fees may cost buyers up to $1,000.
  • Brokerages often charge this fee to cover any extra expenses that may arise while processing the paperwork, but with little oversight, there is plenty of room for abuse.
  • While proponents of this fee argue that adding it to agents’ commissions helps brokerages stay in business, others argue that it is an overt cash grab.  

Go deeper

FacebookTweetEmailLinkedIn

And the Jobs Just Keep Coming

by Hannah Bryan Leaders Staff
Business

6 hours ago

hiring continues

Private companies increased hiring during the month of April despite predictions for a cooling job market.

Key Details

  • Private payrolls increased by 296,000 in April, counteracting market predictions, according to a report from payroll processing firm ADP. 
  • The Dow Jones estimate for the month was 133,000. April marked the highest monthly gain since July 2022.
  • The hiring surge comes despite the Federal Reserve’s attempts to slow economic growth and weaken the labor market to cool inflation. 
  • So far this year, more than 800,000 jobs have been added to the market. The imbalance in supply and demand has resulted in solid wage gains that add to inflation pressures, CNBC reports. 

Go deeper

FacebookTweetEmailLinkedIn
Public Policy

7 hours ago

The Fight Against ESG Continues 

by Tyler Hummel Leaders Staff
apple account
Investing

7 hours ago

Apple’s $1 Billion In ‘Savings’

by Hannah Bryan Leaders Staff
Environment

8 hours ago

The Changing Views On Nuclear Power 

by Tyler Hummel Leaders Staff

Recent Articles

Personal Growth

10 hours ago

10 Intriguing Indicators of a Highly Empathetic Personality

Empaths have a variety of strengths, but they can be overwhelmed by emotions. Learn how to strike a balance.

Productivity

May 2, 2023

Beat Distraction by Mastering Time Blocking 

Get into a state of deep work by scheduling your day in blocks of time.

Personal Growth

May 1, 2023

How Adaptability Can Make or Break Your Career in the Coming Years

The business world is always changing, making adaptability a necessary skill.

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com

x