Global Edition

 

PGAE in Ryder Cup joint venture

9.00am 25th May 2004 - Corporate

The European Ryder Cup Board has announced the reorganisation of the Ryder Cup to include the introduction of the PGA’s of Europe, with The European Tour becoming the managing partner and the Professional Golfers‘ Association the founding partner.
This reorganisation has been achieved by the transfer by each of the European Tour and the PGA of their 50% shareholdings in Ryder Cup Ltd to a new joint venture – Ryder Cup Europe LLP – through which the European Tour, the PGA and the PGA’s of Europe will represent the interest of Europe in the Ryder Cup Matches.
The agreed new structure for Ryder Cup Europe LLP is that the European Tour, as managing partner, own 60% with the PGA, as founding partner and the PGA’s of Europe each owning 20%.
The management and control of Ryder Cup Europe LLP has been apportioned between the Ryder Cup policy board, which will have prime responsibility for all matters concerning the European team, the matches and player issues, and an administrative board that will be responsible for the day-to-day management of the business of Ryder Cup Europe LLP. The Ryder Cup policy board will comprise six members from the European Tour and two each from the PGA and the PGA’s of Europe, and the administrative board will comprise three members from the European Tour and one each from the PGA and the PGA’s of Europe.
The initial administrative board members are Ken Schofield, Richard Hills and Jonathan Orr (the European Tour), Sandy Jones (the Professional Golfers‘ Association) and Mikael Sorling (the PGA’s of Europe) with John Yapp of the PGA acting as the partnership secretary.
The European Tour is a members‘ organisation providing playing opportunities for members all of whom are professional golfers. In 2003 Tour prize funds totaled nearly £78 million. The PGA has operated as the governing body for professional golfers in Great Britain and Ireland since 1901.
The PGA’s of Europe is an association of individual European country PGA’s whose objective is to act as a support role to individual PGA’s on a business-to-business basis. The PGA’s of Europe now represents 25 member countries with in excess of 12,000 professional members. The PGA’s of Europe strives to raise standards and opportunities collectively across Europe in the education and employment of golf professionals, as well representing member countries with governments and other legislative and influential bodies in the promotion of the game and the interests of professional golfers in general.
Ryder Cup www.rydercup.com

       

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