Tiger Woods will be the only player on a five-member subcommittee negotiating with the Public Investment Fund. This is part of a hectic day of governance as the PGA Tour attempts to reach an agreement with LIV Golf’s Saudi sponsors.
Tiger Woods To Be The Only Player On The Negotiation Committee With Saudis.
According to the tour, Woods will serve on the “transaction subcommittee” of the PGA Tour Enterprises board, which will manage day-to-day negotiations as PIF attempts to become a minority partner.
The subcommittee includes PGA Tour Commissioner Jay Monahan, board chairman Joe Gorder, John W. Henry of Fenway Sports Group, and Joe Ogilvie, a former tour player named director liaison in March.
The subcommittee reports back to the entire board.
The developments concluded a day that began with Rory McIlroy losing his inside track on returning to the board as Webb Simpson’s successor after board members opposed his return.
“I think there was a subset of people on the board who were maybe uncomfortable with me coming back on for some reason,” McIlroy said at the Wells Fargo Championship in Charlotte, North Carolina, a $20 million marquee tournament.Simpson had offered to quit, but only if McIlroy replaced him. When a player director resigns, the remaining players on the board must unanimously agree on a replacement. McIlroy resigned from the board in November, and the players chose Jordan Spieth as his replacement.
The seven players — Woods, Spieth, Simpson, Ogilvie, Patrick Cantlay, Adam Scott, and Peter Malnati — serve on the boards of the PGA Tour and PGA Tour Enterprises, the business organization that signed an agreement with Strategic Sports Group as a minority partner.
That contract included a $1.5 billion investment, which may rise to $3 billion.
McIlroy was eager to return, hoping he could help find a solution to golf’s schism, which has left some of the top players on two tours. McIlroy sees reunification in some form as the ultimate aim and offended players earlier this year when he recommended that LIV players return without penalties.
“Today’s news is in no way a commentary on Rory’s important perspective and influence,” Monahan said. “It’s simply a matter of following our governance process when a tour player becomes a board member.
Tiger Woods To Be The Only Player On The Negotiation Committee With Saudis.
“Webb remaining in his position as a member of the policy board and PGA Tour Enterprises board through the end of his term provides the continuity needed at this vital time,” he stated. “We are making progress in our negotiations with the PIF.”
Given his two years on the board and his influence in the game, McIlroy is almost certain to remain involved in an unofficial manner. He was the sole European Tour member on the PGA Tour board, and he has built contacts across continents throughout his career.
On a British soccer podcast earlier this year, he stated that he met with the PIF governor, Yasir Al-Rumayyan, during the DP World Tour Championship in Dubai in late 2022, then returned home and persuaded the tour board to meet with him.
The PGA Tour, European Tour, and PIF announced a framework agreement on June 6, with a deadline of the end of 2023. Negotiations continue with little progress.
Tiger Woods To Be The Only Player On The Negotiation Committee With Saudis.
At the Masters, Woods stated of that meeting, “I’m not sure if we’re closer, but we’re definitely on the right track.” That was a pretty productive meeting, and I believe both parties left feeling good.
Gorder is chairman and CEO of Valero, the Texas Open’s title sponsor. He has been selected as the first chairman of the PGA Tour Enterprises board.
SOURCE – (AP)
