A pension frozen at $10 million for over two decades is now dropping to $8 million. Champions Tour veterans expected it to climb toward $20-25 million, taking inflation into account. Instead, they’re watching their retirement cushion shrink while PGA Tour stars cash bigger checks than ever.

The controversy exploded on the October 9 episode of The Shotgun Start podcast. Fried Egg Golf hosts Andy Johnson and Brendan Porath tore into the pension cut during their rapid-fire Monday morning show. The duo didn’t hold back as they dissected how new PGA Tour CEO Brian Rolapp’s cost-cutting measures are squeezing the 50-and-over circuit.

Johnson and Porath opened with Peter Jacobsen‘s scathing assessment. The seven-time PGA Tour winner and current Golf Channel commentator called the situation “disheartening” in comments to Golfweek.

“The PGA Tour clearly has a lot of money right now and they’re spending a lot of money keeping players from going to LIV, and we’ve kind of slowly become LIV,” Jacobsen said. “I think we are giving way too much money to way too few players on the PGA Tour and the players on the Champions Tour live by the decisions made by the PGA Tour.” The numbers back up Jacobsen’s claims. Strategic Sports Group invested $1.5 billion in PGA Tour Enterprises, with commitments totaling $3 billion. The Tour also dramatically increased purses for signature events to compete with LIV’s massive payouts.

The hosts acknowledged Jacobsen’s point but added crucial context. “Well, I mean, for good and bad, they don’t have a tour unless the PGA Tour is underneath it propping it up,” one host noted. The Champions Tour exists because the PGA Tour subsidizes it. That creates a dependency problem.

Johnson and Porath then turned to Billy Andrade‘s fiery reaction. The Rhode Island native compared Rolapp to Keyser Söze from “The Usual Suspects.” The hosts found the comparison darkly amusing. “He’s like Keyser Söze, you know, from the usual suspects,” they read from Andrade’s comments. “He’s just slashing stuff. And you know, everyone’s taking a pay cut except the PGA Tour players.”

Andrade’s inflation argument came next. The pension sat at $10 million twenty-five years ago. He believes it should be around $20-25 million now. Instead, it’s heading to $8 million. The hosts let that math speak for itself.

Tom Pernice Jr. blames venture capitalists as Champions Tour players lose control

The conversation shifted when Johnson and Porath reached Tom Pernice Jr.‘s explanation. The six-time Champions Tour winner pointed directly at Strategic Sports Group’s influence.

“The venture capitalists are doing what they like to do,” Pernice told Golfweek. “They get rid of the waste and make it look more profitable. The tour is working to get their SSG their 11% return.”

One host appreciated Pernice’s business analysis. “I love the 11% return,” he said, his tone conveying evident sarcasm about the cold financial reality.

The power dynamic became the focal point. Andrade admitted Champions Tour players have zero leverage. “We don’t have control of that big board,” he said. “They’re going to do whatever this new guy wants to do. I guess it should be up higher in my opinion, but nobody’s going to listen to us or me.”

Johnson and Porath highlighted the delicious irony. These players spent careers as independent contractors. Now they’re demanding pension protections like union workers. “Honestly, one of the most amazing things is to pull if you pulled this selection of men on similar situations in other industries and how they would fall on that,” one host observed.

The other host pushed further. “Can you just be super average and by that I mean you are among the best golfers on the planet but you finish a hundredth every year and nobody knows your name?” The question hung in the air. What would Tom Pernice and Billy Andrade say about teachers’ pensions?

Strategic Sports Group invested $1.5 billion into PGA Tour Enterprises with commitments up to $3 billion total. They want returns. Rolapp took over as CEO in July 2024 after two decades with the NFL. The pension cut reflects broader belt-tightening that includes voluntary early retirement offers to hundreds of staff members. Someone has to pay the price for private equity’s entrance into professional golf.