Topline
The Royal Bank of Canada has ended its sponsorship of golfers Dustin Johnson and Graeme McDowell, the company said in a statement Wednesday afternoon, after the two were included in the field of controversial PGA Tour competitor LIV Golf’s first event next week.
Golfer Dustin Johnson celebrates his winning putt on the 18th hole at the RBC Canadian Open in 2018.
Key Facts
In a statement provided by a company spokesperson to Forbes and other outlets, RBC cited Johnson and McDowell’s decision to participate in LIV Golf’s tournament.
The upstart league’s first event in London next week conflicts with the PGA Tour’s RBC Canadian Open, which is also sponsored by the bank, and RBC said late Tuesday it was “extremely disappointed” in Johnson for shunning the PGA Tour.
The 37-year-old Johnson, winner of the 2020 Master’s and the 13th ranked golfer in the world, is the top-ranked player participating in the LIV Golf event and by far the biggest name playing in the new golf league, which is mostly populated by former stars like the 42-year-old McDowell, who won the 2010 U.S. Open but hasn’t made an impact on the tour in recent years.
Despite Johnson and McDowell’s lost sponsorship, the move to LIV Golf is still likely a financial plus: The prize money pool for each LIV Golf tournament is more than double that of PGA Tour majors, thanks to financial backing from Saudi Arabia’s sovereign wealth fund.
Crucial Quote
“As a result of the decisions made by professional golfers Dustin Johnson and Graeme McDowell to play the LIV Golf Invitational Series opener, RBC is terminating its sponsorship agreement with both players,” RBC said in the statement. “We wish them well in their future endeavours.”
Key Background
RBC is not the first sponsor to cut ties with golfers over their ties to LIV Golf: UPS dropped Lee Westwood last month after he told the PGA Tour he wanted to play in the new league’s first tournament, and several sponsors dropped Phil Mickelson for his controversial comments in February defending the league’s Saudi funding. Johnson’s decision to play for LIV Golf was a bombshell considering his previously expressed allegiance to the PGA Tour, whose commissioner Jay Monahan met with the agents of several golfers Wednesday to reiterate players can’t participate in tournaments on both the tour and LIV Golf, according to ESPN. McDowell said Wednesday that the potential fallout from playing with LIV Golf are “concerning” and “scary,” according to Reuters.
What To Watch For
How other sponsors respond to Johnson’s shocking jump. Of Johnson’s major sponsors, only TaylorMade responded to Forbes’ inquiry, declining to comment. Adidas, BodyArmor, Hublot, NetJets and Perfect Practice did not respond to the requests for comment.
Further Reading
Top Golfer Johnson Joins Trump, Saudi-Backed Tournament—Skipping PGA Event—And Upsets Sponsor (Forbes)
Source: https://www.forbes.com/sites/dereksaul/2022/06/01/rbc-stops-sponsoring-golfers-johnson-mcdowell-over-decision-to-ditch-pga-tour-for-liv-golf/