PGA Tour Commissioner Jay Monahan said he is “certain” that a definitive agreement will be reached with Saudi Arabia’s Public Investment Fund before the end of the year.
“As I sit here today, I am confident that we will reach an agreement that achieves a positive outcome for the PGA Tour and our fans,” Monahan said. “I see it and I’m certain of it.”
Monahan spoke on Tuesday morning during his annual State of the PGA Tour at East Lake Golf Club in Atlanta, ahead of this week’s Tour Championship.
A year ago, Monahan introduced a number of changes that were implemented this season to combat LIV Golf, which had lured a number of the top players, including 2022 British Open champion Cameron Smith, with lucrative guaranteed contracts. Much has changed in the last 12 months, most significantly with the announcement of a framework agreement to create a new commercial entity with PIF. Monahan claims that a deal will secure the Tour’s position in “the driver’s seat” as the preeminent place for professional golf.
But at what cost? It has given Yasir Al-Rumayyan, the chairperson of PIF, a seat at the table he long desired, if not making him the most powerful person in the game. To Monahan, it is a price worth paying to make the litigation go away and bring new financial resources to the PGA Tour to make it bigger and, in his opinion, better.
“I see it because when you look at the performance of our players, you look at the commitment of our players, our partners, our fans, all of our constituents, our tournaments, I feel like we’re in the strongest position to be able to succeed and successfully conclude these negotiations in a way that protects the legacy of the PGA Tour on a long-term basis,” he said.
“I fully acknowledge that this hasn’t been an easy road,” he later added. “What’s most important through this all is that the PGA Tour has gotten stronger.”
Here are four more things we learned from Monahan’s press conference.
Source: Golfweek https://ift.tt/zg7uhvK