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Singapore-based cryptocurrency exchange company, Crypto.com, has recently come on board as the title sponsor of 'The Showdown'. The much-awaited contest between Rory McIlroy, Scottie Scheffler, Brooks Koepka, and Bryson DeChambeau is set to air next month.
Organizers of the event were looking for a $8-$10 million sponsorship. Reportedly, Crypto.com is paying for the entire prize purse in cryptocurrency. This will mark the first time that a multimillion-dollar purse will be paid in cryptocurrency for a golf tournament.
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CMO of Crypto.com, Steven Kalifowitz, noted that this partnership will be the the company's latest innovative association. It has previously pioneered several "first" collaborations. As per Investing Cube, he said:
"At Crypto.com, we look for 'firsts.' The first crypto company to put our name on an iconic arena, The Crypto.comArena. The first to be a global sponsor for Formula 1, UFC, and the FIFA World Cup. Now, we will be the first to host a major golf tournament with the world’s top ranked players from LIV and the PGA Tour teeing off for a world’s first purse in CRO cryptocurrency"
'The Showdown' has been looked upon as a PGA Tour vs LIV Golf event, with Rory McIlroy and Scottie Scheffler representing the former while Brooks Koepka and Bryson DeChambeau standing in for the breakaway league. It will be one of the most anticipated contests this year.
The made-for-TV event will be broadcast at 6 pm ET on December 17th, 2024 on TNT. It will be held at Shadow Creek in Las Vegas.
What is the format of 'The Showdown'?
'The Showdown' will be played in pairs with Rory McIlroy and Scottie Scheffler on one side and Brooks Koepka and Bryson DeChambeau on the other. The primetime event has opted for match play and will be held across 18 holes.
In match play, the pairs will compete against each other on the same hole. Simply enough, whichever team wins it will score a point. The duo with the most points at the end of the game will secure the final win. All the players are being paid an appearance fee which, according to reports, amounts to a staggering $4 million.
The PGA Tour vs LIV Golf match-up follows the line of exhibition contests such as The Match or Netflix Cup. With the date of the event set on December 17th, it will be the perfect slot right before Christmas break. The anticipation around the match is so intense that it can also cut through the clutter of Christmas movies that will release around that time.
As the PGA Tour and LIV Golf merger talks reportedly proceed towards an amicable deal, 'The Showdown' can possibly be looked at as a trailer for when the rival leagues finally come to a solution.
