UPDATE: On Wednesday morning, the PGA Tour announced in a release that Strategic Sports Group “closed on a major financial and strategic investment of up to $3 billion,” with an initial investment of $1.5 billion. With the formation of the Tour’s for-profit arm, PGA Tour Enterprises, the Tour said players will stand to “benefit” from the business’s commercial growth. “Under this program, players would collectively access over $1.5 billion in equity in PGA Tour Enterprises,” the Tour statement said. “These grants — which vest over time — will be based on career accomplishments, recent achievements, future participation and services and PGA Tour membership status, and grants are only
available to qualified PGA Tour players.”
***
The PGA Tour on Wednesday will announce details of a $3 billion investment in its forthcoming for-profit arm, PGA Tour Enterprises, according to multiple news reports.
Those dollars, as expected, will come from the Strategic Sports Group, a consortium of sports-industry billionaires that includes the likes of New York Mets owner Steve Cohen and Atlanta Falcons owner Arthur Blank.
According to ESPN, the Tour will formally announce the pact to its players on a conference call Wednesday morning; most of the Tour’s top players are at Pebble Beach for this week’s AT&T Pebble Beach Pro-Am, where the Tour’s dealings, as ever, have been a hot topic.
“I know that they were supposed to vote on it Sunday night, and there was a delay,” Rory McIlroy said Tuesday of the Tour’s player advisory council, of which McIlroy was an active member before resigning in November. “They were supposed to vote on it last night, and there was a delay. I feel like this thing could have been over and done with months ago. I think just for all of our sakes that the sooner that we sort of get out of it and we have a path forward, the better.”
McIlroy could have been speaking not only for the players and the Tour’s administrators but also for fans, many of whom have tired of the endless talk in the men’s professional game over the past two-plus years of strategizing and brinksmanship and massive payouts for the world’s best golfers.
SSG, ESPN and other outlets reported, will be a minority investor in PGA Tour Enterprises, with the Tour maintaining a controlling interest.
The SSG deal is likely to be only the first surge of investment in the Tour. Barring talks collapsing with Saudi Arabia’s Public Investment Fund — with which the Tour announced a framework agreement on June 6 — the Tour also is likely to a have new partner in the PIF, which funds LIV Golf. After the Tour and the PIF missed a self-imposed Dec. 31 to announce a definitive agreement, Tour commissioner Jay Monahan said in a statement that the two sides had “made meaningful progress” by way of “active and productive” conversations.
Those remarks came less than a month after LIV had poached one of the Tour’s biggest stars in Jon Rahm, and the high-profile defections didn’t stop there. World No. 16 Tyrrell Hatton, LIV announced this week, also has signed with the fledging tour, which kicks of its third season in Mexico this week.
McIlroy, who was once LIV’s most high-profile critic, has, for one, come around to the notion that the Tour and LIV must find common ground for the betterment of the professional game.
“It would be much better being together and moving forward together,” he said Tuesday. “That’s my opinion of it. So to me, the faster that we can all get back together and start to play and start to have the strongest fields possible, I think, is great for golf.”
When asked whether LIV players who seek to return to the Tour should have to serve some form of penance for turning their backs on the Tour, McIlroy said his opinion on that matter had also softened.
“I think it’s hard to punish people,” he said. “I don’t think there should be a punishment. Obviously, I’ve changed my tune on that because I see where golf is and I see that having a diminished PGA Tour and having a diminished LIV Tour or anything else is bad for both parties.
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
