Tiger Woods and a contingent of PGA Tour officials are in New York for “multiple days” of meetings with representatives from the Saudi Arabia Public Investment Fund, a sign of increased intention in lagging negotiations to merge professional golf circuits, ESPN reported Tuesday.
PGA Tour commissioner Jay Monahan said last month before the PGA’s Tour Championship at East Lake Golf Club in Atlanta that the priority level in negotiations was “enhanced” due to player and fan feedback that made clear they wanted a resolution that brought together the best in the game.
ESPN reported terms of the deal are centered around the idea the PIF would add $1 billion into PGA Tour Enterprises, a for-profit entity created with the addition of Strategic Sports Group.
Monahan indicated the PGA Tour was in a newfound position of strength with financial backing and sponsorship commitment increased in 2024 while stating there was a strong push to progress talks with the PIF, which funds LIV Golf.
“What we’re hearing from fans, what we’re hearing from players — we’re both in position to bring the best players in the world back together. I think that’s a good and aspirational goal,” Monahan said last month. “As I said earlier, we’re in those discussions. We’re at the table. They’re complex. It’s going to take time. But ultimately, the PGA Tour is the best tour in the world. … I think it’s the right time to be having these conversations, not only for the PGA Tour, but for the game. That’s why we’re having those conversations.”
Rory McIlroy voiced frustration over lagging negotiations during the event at East Lake.
A “framework agreement” striving to combine in some form the existing PGA Tour, LIV Golf and DP World Tour was announced in June 2023.
ESPN reported the PGA Tour is represented in negotiations by Woods, golfer Adam Scott, PGA Tour Enterprises chairman Joe Gorder and Fenway Sports Group owner John W. Henry. Henry is one of several American pro sports franchise owners involved in SSG, the conglomerate established to offer equity to PGA Tour players.
“I think when you get into productive conversations,” Monahan said at East Lake, “that enhances the likelihood of positive outcomes and that enhances the spirit of those very conversations. I think that’s where things stand.”
–Field Level Media