“It's a phenomenal deal with the PGA Tour” - Paul McGinley dismisses DP World Tour bankruptcy rumors

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.

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:

"Relations have never been better between the two tours. They are working very collaboratively together. We've just announced record prize funds and so has the American tour.”

Addressing the rumors, he said:

"I know everybody doesn't want to believe me and everyone wants to believe the rumors that we're bankrupt and we were saved by the Americans and all that bulls***. That's absolutely not true.”

He added:

"We've now hitched our wagon to the PGA Tour, and it provides long-term security for every player on the DP World Tour going forward. It's a phenomenal deal we've done with the PGA Tour. And it's the path of least resistance in terms of risk.”

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:

“So, it's a great opportunity now for the European Tour to grow and slipstream with the PGA Tour. The big benefits of the strategic alliance will really kick in in 2024 when you're going to see more joined-up thinking between the two tours."

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.

The DP World Tour - PGA Tour deal

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.