Paul McGinley has called DP World Tour bankruptcy rumours "absolutely not true" and hailed the strategic alliance with the PGA Tour as a "phenomenal deal" in an interview with the Irish Independent.
The old world circuit was certainly more impacted by the Covid-19 pandemic compared to its US counterpart, with the then-European Tour having to deal with hosting tournaments all across the continent as opposed to just the United States. The tour then faced the difficult decision of partnering with the PGA Tour or LIV Golf, prompting rumours of financial struggles before it ultimately chose to align closer with the PGA Tour.
The deal has been seen as controversial, with some describing the DP World Tour now as a "feeder" to the PGA Tour, claims CEO Keith Pelley categorically denied. DP World Tour board member and Europe's 2014 winning Ryder Cup captain Paul McGinley thinks it has been "phenomenal".
"Relations have never been better between the two tours," McGinley told the Irish Independent's Brian Keogh. "They are working very collaboratively together. We've just announced record prize funds and so has the American tour.
"I know everybody doesn't want to believe me and everyone wants to believe the rumours that we're bankrupt and we were saved by the Americans and all that bulls***. That's absolutely not true.
"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. 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."
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