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LIV Golf’s leading in-home law firm John Loffhagen is no extended with the Saudi Arabia-backed organization, which has appear to phrases on a deal with the rival PGA Tour.
An car-reaction concept from Loffhagen’s LIV email account reported he’s “no lengthier at” the enterprise, which has places of work in London and Miami. LIV and Loffhagen didn’t react to comment requests about the timing of his exit.
Loffhagen, who spent practically two a long time at sports activities and amusement talent administration giant IMG, joined LIV past yr as the upstart qualified golf circuit challenged the PGA Tour for supremacy in the leading flight of world wide golf.
LIV, the PGA Tour, and DP Earth Tour on June 6 declared a proposed tie-up that is reportedly increasing antitrust concerns in the US and Uk. It has also captivated the scrutiny of US lawmakers intrigued in the tax position that a blended system comprised of the a few businesses may have.
Even with his e mail stating he’s absent, Loffhagen is nonetheless a registered director with LIV, according to the UK’s Companies Dwelling.
The UK’s Legislation Society database also demonstrates that Loffhagen is one particular of four attorneys that LIV employs. The many others are basic counsel Louise Savage, who also beforehand worked at IMG and after served as world-wide normal counsel for sports activities advertising and marketing agency Lagardère Sports activities, and authorized counsel Sophie Hinton and Charles Scott.
It is unclear whether or not these in-house attorneys will be element of the new for-income golfing entity. Leonard Brown Jr., chief lawful officer and executive vice president of licensing and merchandising for the PGA Tour, did not answer to a comment ask for about what the upcoming holds for LIV’s authorized staff.
Not a Merger
Laura Neal, a spokeswoman for the Ponte Vedra Beach front, Fla.-based PGA Tour, which is structured as a nonprofit, said it will keep that standing and that the settlement with LIV is not a merger. As a substitute, the offer “creates a independent, commercial entity that is a subsidiary of PGA Tour Inc.,” Neal said.
Other legal professionals portion of the PGA Tour’s senior leadership workforce incorporate former lawful chief-turned-chief media officer Richard “Rick” Anderson, as properly as main administrative officer Allison Keller.
Brown gained about $2.1 million in full compensation from the PGA Tour in fiscal 2021, in accordance to its most the latest US tax filing. Anderson obtained extra than $3.1 million in 2021 and Keller was paid out more than $2.9 million.
The earnings and benefits of PGA Tour executives, such as its embattled commissioner Jay Monahan—who been given $13.9 million in complete compensation, down from $14.2 million in 2020—have been criticized by some PGA Tour players eager on strengthening their individual fiscal conditions.
Antitrust Litigation
The PGA Tour spent thousands and thousands past year sweetening the pot for players competing in its activities immediately after watching virtually a dozen large-profile gamers defect to LIV, which has economic backing from Saudi Arabia’s Community Financial investment Fund. Some of those players then submitted an antitrust lawsuit towards the PGA Tour soon after they have been suspended for participating in LIV-sponsored occasions.
LIV subsequently joined the dispute and Loffhagen filed a declaration in the case, which has performed out in a US federal court and is now poised to be solved by way of the company’s accord with the PGA Tour. The litigation has included dozens of Significant Regulation litigators, with Gibson, Dunn & Crutcher, Quinn Emanuel Urquhart & Sullivan, and Baker McKenzie getting the guide for LIV and its gamers.
White & Scenario is representing the Saudi community financial investment fund and its governor, Yasir Al-Rumayyan. Skadden, Arps, Slate, Meagher & Flom and Keker, Van Nest & Peters are handling the litigation for the PGA Tour, which turned to Wachtell, Lipton, Rosen & Katz to suggest on its deal this week with LIV.