PGA Tour commissioner Jay Monahan has been encouraged by “enhanced” negotiations with the Saudi Public Investment Fund but warned no deadline has been set for a deal to be agreed.
The PGA Tour, DP World Tour and PIF – financers of the breakaway LIV Golf League – signed a framework agreement in June 2023 that would combine the respective tours and seek to bring over $1bn of Saudi investment into the game of golf.
Eight months on from the original December 31 deadline, the PGA Tour and PIF remain in negotiations over the proposed agreement.
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Monahan has stopped short of putting a date on when negotiations will conclude but is adamant progress is being made, with financial backing and sponsorship commitment stronger than ever.
“We have not agreed to a deadline,” he said. “I don’t think we want to restrict ourselves in that way. We want to achieve the best and right outcome at the right time.
“Together, we’re at the table and actively engaged with the Public Investment Fund. We remain hopeful about that outcome. At the same time, we’re moving forward at speed and focused on what we can control. Because that’s what we owe to our fans.”
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He continued: “I would say that the priority; it’s been enhanced. It’s stronger. That’s a direct result of dialogue and conversation and really starting to talk about the future, future product vision and where we can take our sport.
“I think when you get into productive conversations, that enhances the likelihood of positive outcomes and that enhances the spirit of those very conversations. I think that’s where things stand.”
Monahan presented a united front with players, sponsors and investors, stating his mission is to build the best experience for fans and to embrace change to grow the game of golf through re-imagining the schedule.
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“What we’re hearing from fans, what we’re hearing from players – we’re both in position to bring the best players in the world back together,” Monahan added. “I think that’s a good and aspirational goal.
“As I said earlier, we’re in those discussions. We’re at the table. They’re complex. It’s going to take time.
“But ultimately, the PGA Tour is the best tour in the world. I think it’s the right time to be having these conversations, not only for the PGA Tour, but for the game. That’s why we’re having those conversations.”
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