After a swirl of activity Wednesday related to the PGA Tour’s Policy Board, including news that Rory McIlroy won’t be returning to the 11-member leadership group, the question remains: Does this move the tour and Saudi Arabia’s Public Investment Fund any closer to an agreement?
Not immediately, but this was always going to be a long, difficult process.
The moves this week – McIlroy confirmed that he will not return to the board from which he resigned in November, with Webb Simpson agreeing to remain on the board through 2025 and that Tiger Woods will be the only player director on a five-person transactions committee that will negotiate directly with the PIF – suggest that putting things in order within the PGA Tour remains fluid.
Sources with direct knowledge of the situation told Global Golf Post that there are no meaningful discussions happening between the tour and the PIF and that LIV is resistant to making a deal.
The news, first reported by the Associated Press’ Doug Ferguson on Wednesday night, that Woods along with tour commissioner Jay Monahan, Policy Board chairman Joe Gorder, Fenway Sports Group principal owner John Henry and director liaison Joe Ogilvie have been tasked with negotiating with the PIF regarding the Saudi fund’s potential minority investment in PGA Tour Enterprises suggests discussions between the two sides could soon intensify.
However, the changing dynamics point to the challenges involved in negotiating any potential agreement with the PIF nearly a year after the unexpected framework agreement was announced.
McIlroy’s revelation Wednesday that his interest in rejoining the Policy Board as one of six player directors had been rejected was surprising given his place in the game and his willingness to consider compromise with the PIF and LIV Golf.
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