Rory McIlroy named to new subcommittee working on PIF deal

In a significant development for the PGA Tour, Tiger Woods, Rory McIlroy, and Adam Scott have been appointed as key figures on a new subcommittee tasked with negotiating with Saudi Arabia’s Public Investment Fund (PIF). This subcommittee is part of a broader initiative aimed at engaging with various stakeholders and exploring potential investment opportunities.

The announcement, made on Thursday night, also revealed that Joe Gorder, the executive chairman of Valero, will serve as the inaugural chairman of PGA Tour Enterprises. Gorder’s role extends to the Transaction Subcommittee, which is directly involved in negotiations with the PIF. This subcommittee comprises influential figures such as PGA Tour commissioner Jay Monahan, Joe Ogilvie (a former pro golfer now serving as a liaison director), and John W. Henry of Fenway Sports Group, a key player in the Strategic Sports Group (SSG) investing in PGA Tour Enterprises.

McIlroy’s involvement in the subcommittee comes after recent discussions about his potential return to the PGA Tour policy board. Although initially considered for a director seat, McIlroy has assumed a different role within the subcommittee to contribute to the ongoing negotiations with the Saudis. He expressed his commitment to the process, highlighting his participation in detailed discussions and document reviews aimed at shaping the future product model.

While the PGA Tour has already partnered with SSG to invest in PGA Tour Enterprises, negotiations with the PIF remain crucial, particularly given the PIF’s backing of the LIV Golf circuit. The tour’s objective is not only to secure a deal with the PIF but also to explore additional investment and innovation opportunities that benefit all stakeholders, including fans, players, and sponsors.

Joe Gorder emphasized the tour’s deep connection with communities and its passionate fanbase, expressing optimism about the organization’s future prospects. Woods echoed these sentiments, stating that the work is already underway and expressing confidence in Gorder’s leadership and vision for the organization’s future endeavors.

Overall, the formation of the subcommittee and the engagement with various stakeholders underscore the PGA Tour’s commitment to exploring new avenues for growth and collaboration in the ever-evolving landscape of professional golf.