Sky Sports Channel Logo

Golf News

News

  • News
  • Leaderboard
  • Features
  • Competitions
  • Schedule
  • Rankings
  • Video
  • Pundits
  • On Sky
  • Sky Bet

Keith Pelley defends European Tour finances after PGA Tour alliance

Keith Pelley: "We [the European Tour] did not have to enter into this agreement or any other. We chose to because it's in the best interests of both tours, for our players, for our golf fans, and for global professional golf."

By Ali Stafford

Last Updated: 27/11/20 6:47pm

Keith Pelley says the new strategic alliance between the European Tour and PGA Tour will help the world's top players feature on both Tours.

Please use Chrome browser for a more accessible video player

Sky Sports

Keith Pelley says the new strategic alliance between the European Tour and PGA Tour will help the world's top players feature on both Tours.
Keith Pelley says the new strategic alliance between the European Tour and PGA Tour will help the world's top players feature on both Tours.

European Tour CEO Keith Pelley has quashed any suggestion that financial difficulties were behind the decision to forge a new ‘strategic alliance’ with the PGA Tour.

The two Tours jointly announced on Friday a new historic partnership, that will see the organisations work more closely together on scheduling and playing opportunities for members.

The PGA Tour will acquire a minority investment stake in European Tour Productions and their commissioner Jay Monahan will take a seat on the board of the European Tour, with Pelley believing the agreement is of benefit to both organisations.

"If this was a financial situation, we would have done far more than a strategic alliance with a minority investment," Pelley told a media conference. "I can tell you we are categorically not in financial difficulties.

Keith Pelley says a merger between the European Tour and PGA Tour is 'miles away' after announcing they will work together in partnership.

Please use Chrome browser for a more accessible video player

Sky Sports

Keith Pelley says a merger between the European Tour and PGA Tour is 'miles away' after announcing they will work together in partnership.
Keith Pelley says a merger between the European Tour and PGA Tour is 'miles away' after announcing they will work together in partnership.

"We are in robust financial health with a very strong balance sheet, strongest ever and a strong support of networks of partners. We have played 23 events since July in Q3 and Q4, creating 15 from scratch, showing incredible resilience and flexibility.

"Also, at the same time, funding a health strategy and Covid testing of another three million. I don't think that this is a business or that it simply would have been possible for a business which did not have robust finances.

New 'strategic alliance' between golf Tours

News of the European Tour and PGA Tour signing a 'strategic alliance' which will see the organisations work closely together.

"Let me be perfectly clear: We did not have to enter into this agreement or any other. We chose to because it is in the best interests of both tours, for our players, for our golf fans, and for global professional golf."

The new partnership also raised questions about the possibility of a future merger between the European Tour and PGA Tour, although Pelley insisted that wasn't the case.

Jay Monahan will be on the Board of the European Tour
Jay Monahan will be on the Board of the European Tour

"If this was a merger, or a pathway to a merger, it would have to have significant benefits for our members," Pelley added. "In order for a merger to ever happen, it would need 75 per cent of the membership vote and consensus.

"This is day one of a partnership, and we really want to build this partnership and really want to grow this relationship. But categorically not, this is not a merger.

"This was just a moment in time when everything aligned. This year, Covid has brought numerous challenges, but also numerous opportunities. We have both spent less time travelling and more time talking as part of the group with the four majors, and Jay [Monahan] and I started sharing our best practises.

Also See:

  • New alliance between Tours
  • European Tour latest news
  • 'Alliance will help all players'
  • New Sky Sports Golf podcast

"I think the whole process made us realise, you know, we are in this game together, and we have so many synergies. We are both committed to growth and globalisation of golf, and I think the Covid showed us that actually we shouldn't be competing against each other.

"We should be pulling together and aggregating our skills and our best practises, our commercial streams to ultimately benefit both tours and the game of golf, which has seen an incredible boost, and I think what we can do together, it really gets me excited."

Trending

  • 1
    Transfer Centre: Tuchel 'big admirer' of Ronaldo | Neymar move a 'long shot'
  • 2
    Papers: Ronaldo to join Messi at PSG?
  • 3
    Chelsea concentrating on Sterling, Raphinha | Ronaldo, Neymar discussed
  • 4
    Man Utd transfer rumours: Initial transfer fee for De Jong agreed
  • 5
    The Ronaldo problem Man Utd could have done without
  • 6
    News: Premier League footballer arrested on suspicion of rape
  • 7
    Eriksen agrees in principle to join Man Utd
  • 8
    Root and Bairstow put England on cusp of famous victory
  • 9
    Incredible comeback takes Eriksen to key role at Man Utd
  • 10
    British GP: Winners and losers from a wild weekend
  • Video
  • Latest News
  • Home
  • Sports
    • Football
    • F1
    • Cricket
    • Rugby Union
    • Rugby League
    • Golf
    • Boxing
    • NFL
    • Tennis
    • Racing
    • Darts
    • NBA
    • Netball
    • GAA
    • MMA
    • More Sports
  • Scores
  • Video
  • TV
  • Sky Bet
  • Games
  • More
    • Transfer Centre
    • Live on Sky
    • Get Sky Sports
    • TV Shows
    • TV Guide
    • Sky Go
    • Now TV
    • Kick It Out
    • Black Lives Matter
    • Sky Zero
    • Podcasts
    • Mobile
    • Twitter
    • Facebook
    • Contact Us
    • Work @ Sky Sports
    • Terms & Conditions
  • Twitter
  • Facebook
  • Sky Sports
    • Get Sky Sports
    • Sky Sports Apps
    • Sportinglife.com
    • TEAMtalk.com
    • Football365.com
  • Partners
    • Sky Bet
    • Fantasy Football
    • Super 6
    • Planet Rugby
    • Golf365
    • Planet F1
    • Cricket365
  • Sky Sports Channels
    • Sky Sports Main Event
    • Sky Sports Premier League
    • Sky Sports Football
    • Sky Sports Cricket
    • Sky Sports Golf
    • Sky Sports Racing
    • Sky Sports F1
    • Sky Sports Action
    • Sky Sports Arena
    • Sky Sports News
    • Sky Sports Mix
  • More Sky Sites
    • Sky.com
    • Sky News
    • Sky Group
    • Sky For Businesses
    • Work @ Sky Sports
    • NOW TV
    • Sky Communal TV
    • Bigger Picture
    • Store Locator
    • Advertise With Us
    • Sky TV Accessories
  • Terms & Conditions
  • Privacy & Cookies Notice
  • Privacy Options
  • Accessibility Information
  • Contact Us

Sky Sports Channel Logo ©2022 Sky UK