PGA Tour commissioner Jay Monahan reaffirmed the commitment to reaching an agreement with Saudi Arabia’s Public Investment Fund (PIF), despite reports of offers from dozens of other potential investors, and confirmed that the negotiations with PIF and the DP World Tour remain the primary focus, with interest from numerous outside potential investors, and also announced changes to the board of directors.
At Glance
– PGA Tour commissioner Jay Monahan reaffirms commitment to reaching an agreement with Saudi Arabia’s Public Investment Fund (PIF)
– The Tour has received offers from “dozens” of other potential investors
– Fenway Sports Group and Endeavour were among the organizations that showed interest in partnering with the Tour
– Patrick Cantlay reappointed as a Player Director and Joe Gorder to fill vacant final Independent Director seat on the PGA Tour’s Policy Board
Tour continues "negotiations toward a definitive agreement with PIF" and "unsolicited interest from numerous outside potential investors," according to memo sent to players.
— Rex Hoggard (@RexHoggardGC)
PGA Tour commissioner Jay Monahan has reaffirmed his commitment to reaching an agreement with Saudi Arabia’s Public Investment Fund (PIF) but confirmed reports that the Tour had received offers from “dozens” of other potential investors. Initially announced in June, the potential deal with the PIF, which currently funds the LIV Golf tour, has been fairly quiet in recent months with very few public updates. The Tour had set a deadline of December 31 to complete the deal but that now appears unlikely to be hit.
In a memo released to players, Monahan confirmed that the deal is still progressing and remains the primary focus of senior officials at the Tour. “We continue to remain focused on…our priority,” the memo read.
Monahan also confirmed reports that the PGA Tour has been approached by dozens of other organizations looking to partner and become minority investors. “The opportunity to potentially participate in the transformative growth of the PGA Tour for the first time brought forth dozens of inbound prospects,” he stated.
One group that showed interest was Fenway Sports Group, the owner of Premier League club Liverpool, NHL side Pittsburgh Penguins, MLB outfit Boston Red Sox, and the new TGL team Boston Common Golf Club. Another company that showed interest was Endeavour – majority owners of the UFC and WWE – although their offer was turned down.
Monahan also announced that Patrick Cantlay has been reappointed to serve as a Player Director until 2026, while Joe Gorder will fill the vacant final Independent Director seat on the PGA Tour’s Policy Board. Gorder replaces former AT&T executive Randall Stephenson who resigned in July, citing “serious concerns” over the proposed deal between the Tour and the PIF.
