Tiger Woods has been appointed to a five-member subcommittee that will handle negotiations with the Public Investment Fund, as part of the PGA Tour’s efforts to strike a deal with Saudi backers of LIV Golf. Woods, who became a PGA Tour board member in August, will be the only player on the subcommittee, which also includes PGA Tour Commissioner Jay Monahan and board chairman Joe Gorder. The subcommittee will be responsible for day-to-day negotiations as PIF seeks to become a minority investor, and will report back to the full board.
The day began with Rory McIlroy losing the opportunity to rejoin the board as Webb Simpson’s replacement, as board members resisted his return. When Simpson offered to resign, he stated that he would do so only if McIlroy were to replace him. However, the other players on the board did not unanimously agree on McIlroy’s return, and instead selected Jordan Spieth to replace him. The seven players on the board, including Woods, Spieth, and Simpson, are overseeing negotiations with the Strategic Sports Group, which has made a significant investment in the PGA Tour Enterprises.
McIlroy expressed his willingness to return to the board in order to find a solution to the split in golf that has left some of the best players on two tours. He believes that a reunification is the ultimate goal and has advocated for LIV players to return without punishment. Despite being unable to rejoin the board, McIlroy is expected to remain involved in an unofficial capacity due to his experience and influence in the game. Negotiations with PIF continue with little progress, despite the framework agreement announced in June with a deadline to finalize it by the end of 2023.
Woods, along with other player directors, met with PIF governor Yasir Al-Rumayyan in March to discuss the potential investment. While Woods expressed positivity following the meeting, negotiations are ongoing with little progress. Gorder, who is the chairman and CEO of Valero, has been appointed the first chairman of the PGA Tour Enterprises board. The subcommittee, which includes Woods, will play a key role in navigating the negotiations with PIF and working towards a potential deal that could have significant implications for the PGA Tour and the future of professional golf.
The PGA Tour, European Tour, and PIF have been in discussions to finalize an agreement by the end of 2023, with the hope of creating a unified global golf schedule. The involvement of players like Woods and McIlroy in governance decisions highlights the significance of these negotiations for the future of the sport. Despite challenges and differing opinions on how to move forward, the PGA Tour is making progress in its negotiations with PIF, and the subcommittee, led by Woods, will continue to play a crucial role in shaping the future of professional golf. The golf world will be closely watching as these negotiations unfold and the potential impacts on the sport become clearer.
