PGA Tour Commissioner Jay Monahan meets PIF governor in Saudi Arabia to discuss the framework agreement: Report
On Tuesday, January 16, the Sports Business Journal reported that PGA Tour commissioner Jay Monahan was in Saudi Arabia for the week to discuss with PIF governor Yasir Al Rumayyan the future of the framework agreement. This is the first time they have met since last June when they jointly announced the merger of the PGA Tour, DP World Tour, and LIV Golf to form a common entity.
As per reports, Monahan was scheduled to meet Saudi Arabia's sovereign wealth fund governor in November, but that couldn't materialize. However, the London Telegraph reported that both of them recently had a long phone conversation, indicating progress towards negotiations.
During the telephonic exchange, both parties decided to give the December 31 deadline an extension until April. Last month, Strategic Sports Group, a private equity group led by Fenway Sports, also entered as a minority party in the framework agreement.
Last week, DP World Tour CEO Keith Pelley announced his departure from the position after holding it for more than eight years. However, he will be at the helm through April and hopes that the agreement comes to fruition. He also warned the PGA Tour that they needed to accept the global nature of the game.
Pelley said, as per the Guardian:
"The growth of the game is global. I think that’s where the focus needs to be. I think with the emergence of FSG, which owns Liverpool , they understand the importance of global. PIF certainly understands the importance of being global. This is a global game. Every business now that is growing wants to be global. What I would like to see is the game becoming unified with a global strategy.
"I think the PGA Tour is coming to the realisation is global is the key for the growth. They have heard me say it once or twice."
PGA Tour Enterprises will be the name of the new entity if the deal is finalized. According to reports, Brian Rolapp, the current Chief Media and Business Officer of the NFL, and Sean Bratches, the former Managing Director of F1, were a couple of names that surfaced in the speculations to lead the company.
As per SBJ, Chris Halpin, a former official at the NFL, is the latest name in the speculation. Halpin played a crucial role in the growth of the league during his ten-year stint.
When will PGA Tour and LIV Golf players be back in action? Upcoming schedule explored
The PGA Tour began the new season earlier this month at The Sentry and now will head to La Quinta for the American Express, the third event this season. The event will take place from January 18 to 21 at the three golf courses of La Quinta Resort and Club.
The LIV Golf will kick off its third season next month with the LIV Golf Mayakoba, which will be played from February 2 to 4 at the El Camaleón Golf Course in Mayakoba, Mexico.