PGA Tour Executive Reports Productive Discussions as Woods Meets with PIF Leader

Commissioner Jay Monahan of the PGA Tour recently disclosed to PGA Tour members that player directors on the PGA Tour Enterprises board had a meeting with Yasir Al-Rumayyan, the governor of the Public Investment Fund (PIF) of Saudi Arabia, which backs rival LIV Golf.

The PGA Tour initiated talks with Saudi Arabia’s national wealth fund in a meeting in the Bahamas, described by Monahan as “constructive,” although specific details were not provided.

In a memo sent to players late on Monday, Monahan stated that player directors, including Tiger Woods, met with Al-Rumayyan for the first time. Woods reportedly played nine holes with him at Albany Golf Club, according to a source familiar with the meeting.

Other player directors present were Patrick Cantlay, Adam Scott, Jordan Spieth, Webb Simpson, and Peter Malnati. The meeting was initially speculated to occur in Ponte Vedra Beach but was relocated to the Bahamas, where Woods often docks his yacht.

Monahan described the conversation as constructive, emphasizing its importance in the due diligence process for selecting potential investors for PGA Tour Enterprises. This approach mirrors the evaluation process employed earlier when considering an investment offer from the Strategic Sports Group.

The PGA Tour, European Tour, and PIF previously reached an agreement to establish a commercial partnership, with the deal expected to be finalized by the end of 2023. However, due to government inquiries and interest from private equity groups, the deal remained unresolved.

In December, the PGA Tour selected SSG, a consortium of US sports owners, with an initial $1.5 billion investment, potentially increasing to $3 billion. The next phase involves securing PIF as a minority investor to prevent further player defections to LIV Golf.

As negotiations progressed with US private equity, LIV Golf attracted notable players like Jon Rahm and Tyrrell Hatton, exacerbating the divide in the golf landscape.

During the meeting, Al-Rumayyan shared his vision, priorities, and motivations for investing in professional golf with the player directors.

Monahan assured players of regular updates but emphasized the need to maintain confidentiality during negotiations.

Some players expressed resistance to Saudi involvement initially, but there’s a growing willingness to understand their intentions and potential contributions.

Without PIF’s investment, there’s a risk of golf splintering into two rival leagues, with top players meeting only at major tournaments.

Former board member Rory McIlroy, who advocated for engaging with the Saudi leader, emphasized the importance of securing investment to reach a compromise.

While the path forward may not be immediate, securing investment could pave the way for constructive dialogue and compromise within the golf community.