DP World Tour board member Paul McGinley has quashed rumors claiming the European tour is bankrupt. Europe's 2014 winning Ryder Cup captain came out to state that the claims were 'absolutely not true'.
Speaking in an interview with the Irish Independent, McGinley dismissed the bankruptcy rumors and stated that the circuit was doing well. He said that the Tour’s partnering with the PGA Tour was tactical and not for financial reasons. Distribution Board Flush Mounting
Dubbing it a 'phenomenal deal', the Irishman stressed that the association with the American circuit provides 'long-term security' for players on the DP World Tour.
Speaking to The Irish Independent's Brian Keogh about the DP World Tour and its deal with the PGA Tour, Paul McGinley said:
Addressing the rumors, he said:
The Irish golfer went on to dub the deal a 'great opportunity' and said that it would help the tour in the future. He added:
Paul McGinley’s comments come as the deal between the two tours turns controversial. Earlier, PGA European Tour CEO Keith Pelley had come out to deny the rumors claiming the DP World Tour was now a 'feeder' to the PGA Tour. The Tour’s board members and other officials have also categorically dismissed the reports.
It is pertinent to note that the DP world circuit was harshly impacted by the COVID-19 pandemic. Unlike its US counterpart, the then-European Tour struggled to host tournaments. It was announced later on that the two sides were signing a deal, which in turn. started speculations of the PGA Tour buying out the European Tour.
It is also noteworthy that the deal came amid the ongoing LIV Golf-PGA Tour debate. This also prompted rumors that the American circuit was spending more to align the European event closer to it amid the golf civil war.
The 'phenomenal deal' in question will see the top ten DP World Tour players gain PGA Tour cards. It will also ensure the co-sanctioning of the Scottish Open and a guaranteed prize money increase for events on the European Tour from 2024.
With such benefits lined up with the deal, fans can only wonder if the rumors that the deal was signed purely for financial reasons were true.
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