Laura Lee's Sin Bin - LIV Golf

0:00Missed a moment of your favorite show? We've got you covered with the Woodward Podcast Network, powered by Mosquito Squad. Whether you're catching up or diving into bonus audio, we're just a search-away on Speaker or your go-to podcast platform. The Woodward Podcast Network, powered by Mosquito Squad. Tired of those pesky mosquitoes and spiders and rodents, Mosquito Squad has you covered. First time customers will save $50 on this season. Plus a free upgrade to their exclusive barrier treatment. Plus, visit Mosquito Squad.com today and take back your yard. Do you go to the box, you know, by yourself? Laura Lee's since then. And you feel shame on 1057 WAPL. It was never really in a golf until 2020 when that was the only sport you could watch on TV. So I got in a golf. Yeah, the PGA. But then a couple of years later, like watch Tiger King. Well, I didn't watch Tiger King. I know that was a thing. I think it was because I was living with my mom and dad at the time and oh, I like Squid games. Yeah, you would. Yeah.

1:00So Liv came around and was like, hey, what's up PGA? It was the Liv was basically the brainchild of the governor of the Saudi Arabia's public investment fund. And so Liv was created and Liv was supposed to change golf forever. And this was back in 2022. So it was blood money. Yeah, four years ago. I live golf was blood money. Well, yeah, Liv is now filed for bankruptcy. And this is what happened was is that when Liv showed up in 2022, it didn't try to like build slowly. They were they were just they just threw an S ton of money at big names from the PGA. Oh, yes, they did. Yes. They threw enormous amounts of money at professional golf for golfers offered guaranteed contracts, massive purses to convince some of the biggest names in the sports to walk away from the PGA tour. So you have like John Ram and Bryson D. Shambo and Dustin Johnson. These big upcoming names were like, are we're going to go to live and PGA is like, excuse me? Look at all this money. My and so they left. There's a good book called Living Love Die. And I've read actually read it twice.

2:01I find it very interesting. This whole thing. Liv had the money to make offers that were extremely difficult for these players to refuse. And some some players did try to hold out. They're like, oh, the PGA. But then they eventually would over to Liv. Money talks. Uh, yeah. Well, but then what happens when the money runs out? And the answer is you go bankrupt. Because Liv has entered chapter 11 bankruptcy on after only what four years. Uh, reporting between 500 million and one billion in liabilities against only up to about 500 million in assets. So they owe more than they have. Yep. That's how bankruptcy works. Yeah. Yeah. And even some of the players who became the faces like Bryson D. Shambo, one of the one of the bigger faces of Liv, uh, they're, they're owed money. They got some past repayments that are owed to them. So you got wooed over by all these big promises and dollars. And not that they didn't get paid. You know, we've got paid, but some of them are still waiting for money. Now what I love the pettiness of the PGA though. PGA earlier this year when there was rumblings that Liv was maybe a bit unstable.

3:05PGA goes, you know what? We've got this returning member program. Okay. So you can return to the PGA? Yes. Some did. Some did. Some, but there were terms, some accepted those terms, including a five million dollar fine and restrictions on sponsor exemptions and tour equity. So you got to, you got to slap on the risk for leaving the PGA. They're like, look, we, we'll forgive, but we're not forgetting. Uh, five million dollar fine. Yeah. Well, these guys get paid. How much money? That's not true. For big lip stars. I know. I tried to tell my kid I get to pick a sport. Pick one that you personally get rich at. I'm telling my brother, my, my nephew Emmett, he seems like a golfer. Like he's got that sharp mind. Like he's just a thinker. It'll squirrely thing too. You know, I mean, he's not thick. He's not doing football. And then put him in golf. So my brother got, yeah, like, okay, if that happens, I get like, I don't know, seven percent, eight percent just for the suggestion. All auntie Laura will be taken care of. Okay. Look, look, let me be completely before we finish up with the simbent.

4:08Yes, when my brother said he was having a boy, did I get excited to think that I could get this kid into hockey? Yes. Not that I can't get the girls into it. They got great programs these days. But we're saying, I can get Emmett and hockey. He's not a hockey boy. He's not. He's a airplanes and golf boy. That's for him. He's not. I love him. He's great. But yeah, he might be a golfer one day. He'll be in the PJ. Probably not live. Now live is not completely going away. They could come back in some form. But probably won't draw the big names like they used to. But what I love is that some people do come back in this returning mentor program. Okay. Some of those big stars like John Ram and Bryson and Shembo and Cameron Smith said, nah, we don't want to pay you the money or deal with any of your ramifications. So what are they going to do? Well, the program. The teach golf. So they decline the terms and the program is not currently being revived. So suck it, I guess. I don't really know what to tell you. I don't know where they go. You just go play mini pup pup by yourself. I don't know how that all works. If you're between a rock and a hard place,

5:10you could have come back to the PGA. They just had a few things you had to check off that list. And they're like, nah, I'm like, okay, well, bye. So we'll see. I just, I love the whole, I just love that story. How live came in here's a bunch of money. They're like, oh, psych, actually, we don't have it. And the PGA has been here the whole time. Just like the matriarch. And I'm just going to get the old steady. The steady hand. Yeah, yeah. So live for promising a lot and then, oh, bankruptcy. I usually probably feel shame. Don't. Shame. Grass is not a sprinter. Shame. I mean, it might be golf courses are nice these days.