It’s enough money to get the attention of Bobby Axelrod, the take-no-prisoners hedge fund manager on the Showtime hit — Billions.
You may or may not recall that Rory McIlroy recovered from his crushing defeat at The Masters by binge-watching Billions.
Seems like there are Billions headed the PGA Tour’s way.
The world’s greediest not-for-profit just set itself up for huge profits that will pour into the coffers at Ponte Vedra for the next 12 years.
Jay Monhan, aka The Sheriff Of Nottingham, just cut a massive deal worth $2 billion — as in $2,000,000,000. Yes, those are nine zeroes. A pretty good day’s work at your Not-For-Profit Central up there at PGA Tour Headquarters outside Jacksonville Beach.
The deal centers around International Media Rights for the PGA Tour and it was Discovery, Inc., breaking the bank to pad the already fat pockets of America’s most profitable “Not-For-Profit” organization. Discovery will basically be sending everything PGA Tour related to electronic users all over the world, obviously for a fee and sell a mega-amount of advertising to make up for that $2 billion it is forking out to the Sheriff Of Nottingham and his crew.
And speaking of The Sheriff, Jay Monhan threw in his tidbit:
“This partnership aligns very well with the opening of PGA Tour offices in London, Tokyo and Beijing in recent years and will support our long-term objectives of growing the game of golf. It also will deliver more value to our sponsors as it presents a tremendous opportunity to engage new and diverse audiences around the world.”
The deal will begin in 2019 and will include global multi-platform live rights outside the U.S. to 220 markets and territories. It will also include a video streaming service that will use Discovery’s direct-to-consumer products and platforms.
In the meantime, the PGA Tour hasn’t announced any plans to donate the $2 billion, while other real “not-for-profits” would be announcing where they’d be sending all that dough.