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Daily Newsletter

06 September 2023

Daily Newsletter

06 September 2023

PGA Tour hires Korman to head up international content

Korman will lead the organization's global content in key markets across Europe.

Tariq Saleh September 05 2023

US golf’s PGA Tour has appointed Lee Korman as its new director of international content across Europe, the Middle East, and Africa (EMEA).

In the role, he will lead international content in key markets across Europe, reporting to Edward Jones, the PGA Tour's senior director of international content, in the London office.

Korman joins from the Right Formula sports marketing agency where he spent almost six years in various agency roles including head of communications and content, and head of creative.

Prior to this, Korman spent nearly four years at Juniper Sport, the global sports PR and event management firm. He also previously had a three-year stint at global sports and entertainment agency IMG.

The PGA Tour is in the process of merging with the LIV Golf circuit, which is backed by Saudi Arabia's Public Investment Fund (PIF), after a shock announcement that put an end to a drawn-out legal battle between the organizations in recent years. 

A “framework” agreement uniting the PGA Tour, DP World Tour (formerly European Tour), and LIV was announced in June giving the three parties until December 31 to agree on a binding contract.

According to the framework agreement, the for-profit assets of the three circuits will be combined into a new subsidiary tentatively called NewCo. After an evaluation of those assets, the PIF, which owns 93% of LIV Golf, will make a minority investment into the new entity.

Soccer stands as the most active and main beneficiary of the payment sector's sponsorship spend

Engagement with the payments sector is not a new trend for sports rights holders, considering the year 2023, the sector remains one of the most profitable partners to the sports industry, with close to $2.5 billion commitment through 1385 active partnerships. Soccer is the primary recipient of the payment sector's $2.5 billion commitment to the sports industry in 2023, with soccer deals accounting for over 30% of total payment sponsorship value. Some of the largest payment sector companies, such as MasterCard and Visa, are at the forefront of sports sponsorship, aligning with popular sports entities to boost customer preference and increase their market share globally.

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