Tiger Woods and PGA Tour’s ‘transaction committee’ to meet the PIF in New York: Reports
It's been one year since the PIF x PGA Tour merger was announced, and reports indicate that Tiger Woods is coming in to help move things along. He will be part of a reported "transaction committee" that is set to hold an in-person meeting with the Principal Investment Fund in New York soon.
Per Flushing It Golf on X, the two sides exchanged term sheets weeks ago but are now going to talk face-to-face. They have been going back and forth for a full year now without much progress, though the United States Justice Department did interfere with an investigation.
Sources noted that this is a positive development. It suggests that the two sides are still interested in making a deal happen. However, these sources cautioned that a deal is far from imminent.
Bringing in Tiger Woods, and having Rory McIlroy join the meeting virtually suggests a level of urgency on the part of the PGA Tour. They'd like to see this resolved, so they're bringing in perhaps the two biggest faces of golf.
Tiger Woods offers update on PIF merger
Tiger Woods is getting much more involved with the pending PIF merger for the PGA Tour. The legendary golfer is set to be involved with the negotiations in person soon, and he also provided some clarity on the situation recently.
His update was not that there was a deal coming soon, though. He said:
“Has there been progress? Yes. But it’s an ongoing negotiation, so a lot of work ahead for all of us with this process, and so we’re making steps, and it may not be giant steps, but we’re making steps.”
In one year, they've only been able to make small steps, but Woods confirmed that they have not stagnated. Jordan Spieth joined Woods and said that the outside perception of the merger made things a little more frustrating.
The two sides are still interested in making a deal, but they do have some distance to cover if they're going to get there. That's something fans, and many players, would like to see as they have expressed publicly.