Never enough’: PGA Tour players learn value of loyalty

The PGA Tour is rewarding players who stayed loyal amid tempting offers from LIV Golf, with a staggering $930 million in a ‘player equity program’ from the newly formed PGA Tour Enterprises. This groundbreaking initiative, outlined by Commissioner Jay Monahan in a February 7 memo, reflects the tour’s commitment to its athletes and their contributions. The distribution of funds, primarily $750 million, is based on career performance, recent form, and ‘star power,’ with top players like Tiger Woods and Rory McIlroy set to receive substantial sums, reportedly $100 million and $50 million respectively.

This unprecedented move comes after Strategic Sports Group, backed by the Fenway Sports Group, invested $1.5 billion in the PGA Tour Enterprises, potentially rising to $3 billion. Negotiations with the Public Investment Fund of Saudi Arabia, backers of the rival LIV Golf league, as potential investors highlight the fierce competition in the golfing world.

The PGA Tour’s proactive approach includes informational videos on the equity program, emphasizing the tour’s appreciation for player loyalty. Jason Gore, the tour’s chief player officer, underscored the message, stating, “It’s really about making sure that our players know the PGA Tour is the best place to compete and showing them how much the Tour appreciates them being loyal.”

Emails have been dispatched to eligible players, with 36 receiving significant equity based on their contributions to the tour’s growth. Additionally, $75 million in aggregate equity was allocated based on the past three years, and $30 million to current PGA Tour members. Furthermore, $75 million in equity shares was earmarked for 36 past players who played pivotal roles in shaping the tour’s legacy.

Looking ahead, the program includes $600 million in recurring equity grants for future PGA Tour players, with annual awards of $100 million commencing in 2025. Despite the program’s focus on enhancing the PGA Tour experience, concerns linger regarding equitable distribution, as players weigh their decisions amidst the allure of guaranteed contracts from LIV Golf, which has already secured seven major champions since its 2022 launch.

Rory McIlroy, amidst competing in the Zurich Classic of New Orleans, encapsulated the sentiment, acknowledging the ever-present desire for more: “The one thing we’ve learned in golf over the last two years is there’s never enough.” As the landscape of professional golf evolves, the PGA Tour’s player equity program stands as a testament to its commitment to its athletes’ well-being and the sport’s enduring legacy.