Tiger Woods has joined PGA Tour officials in New York, where tour leadership is meeting with Saudi Public Investment Fund (PIF) representatives. The PGA Tour and its new investors from the Strategic Sports Group (SSG) hope to strike a deal that sees the PIF join SSG as another billion-dollar investor. The sides also hope to unite professional golf once again.
The PIF, of course, bankrolls LIV Golf, which is conducting its individual championship this week in Chicago. The PGA Tour, meanwhile, begins its FedEx Cup Fall series in Napa, California, on Thursday.
Mark Schlabach of ESPN first reported the news of the meeting.
The two sides—together with the DP World Tour—signed an initial framework agreement on Jun. 6, 2023, which settled all lawsuits between the parties and set a deadline of Dec. 31, 2023, to strike a formal deal. But that deadline has come and gone.
Two weeks ago, at the Tour Championship in Atlanta, PGA Tour Commissioner Jay Monahan said that officials on both sides have not agreed to a deadline. He added that we “don’t want to restrict ourselves that way.”
Yet, Monahan, without providing any detail or insight into the progress of these negotiations, did mention that the priority of reaching an agreement has been “enhanced.”
“That’s a direct result of dialogue and conversation and starting to talk about the future, future product vision, and where we can take our sport,” Monahan said in Atlanta on Aug. 28, 2024.
“I think when you get into productive conversations, that enhances the likelihood of positive outcomes, and that enhances the spirit of those very conversations. I think that’s where things stand.”
Those conversations are continuing this week in New York, signaling strokes of progress.
Ironically, Monahan and PIF Governor Yasir al-Rumayyan unveiled the framework agreement live on CNBC’s ‘Squawk on the Street,’ shocking the sporting world from CNBC’s studios in Lower Manhattan.
Officials involved with this deal also met in New York in early June 2024 during the second round of the Memorial Tournament—Rory McIlroy had to tune in via Zoom. McIlroy is not present this week, however. He is at Royal County Down for the Irish Open, but it is unclear if he phoned in remotely again.
Woods, meanwhile, is joined in New York this week by Adam Scott, another member of the transactional subcommittee, per Schlabach’s report. PGA Tour Enterprises chairman Joe Gorder, who is also the Executive Chairman of Valero, and Fenway Sports Group owner John W. Henry are also involved in these discussions.
Jack Milko is a golf staff writer for SB Nation’s Playing Through. Be sure to check out @_PlayingThrough for more golf coverage. You can follow him on Twitter @jack_milko as well.
