On Jun. 6, 2023, PGA Tour Commissioner Jay Monahan and Yasir al-Rumayyan, the Governor of the Saudi Public Investment Fund (PIF), shocked the world by unveiling a framework agreement that would unite the PGA Tour and LIV Golf.
Many players, fans, and media members alike were surprised but also frustrated by the news.
That includes Tiger Woods.
“I would say that my reaction was surprised as I’m sure a lot of the players were taken back by it, by what happened. So quickly, without any input or any information about it, it was just thrown out there,” Woods said Tuesday ahead of the Hero World Challenge, his first public appearance with the media since the Jun. 6 announcement.
“We were very frustrated with what happened, and we took steps going forward to ensure that the [players] were not going to be left out of the process like we were.”
Hence, Woods joined the PGA Tour Policy Board in August. The board has played a vital role in the ongoing negotiations with the Saudi PIF.
Part of the issues include the level of PIF’s investment, player reinstatement, and co-existence among the tours. It seems as if LIV Golf is not going anywhere, as its popularity has skyrocketed worldwide. Thus, the players, along with the key stakeholders, are working on creating a way where players can possibly move back and forth between tours.
Many more variables are involved in these difficult discussions, and time is running out.
Per the framework agreement, the PGA Tour, the DP World Tour, and the PIF have until Dec. 31, 2023, to establish a formal agreement.
“I’m pleased with the process and how it’s evolved. Also frustrated with some of the slowness and the governance change we want to have happen,” Woods said.
“Dec. 31 is coming up very quickly, so there’s the timetable there that we would like to implement some of these changes that have not taken place. The guys, all the player directors, have spent so many hours and worked tireless hours to make sure that we have the best deal for all the players that are involved, the entire PGA Tour.”
Of course, alternative options exist for the tour. Fenway Sports Group has expressed its interest in investing in the PGA Tour. So, too, has Endeavor. However, the PGA Tour decided not to partner with Endeavor, the parent company that owns WWE and UFC.
As Alan Shipnuck writes in LIV and Let Die, “The would-be PIF money could be replaced by private equity/venture capital firms like Raine Capital and Silver Lake, which have already been sniffing around the pro game. There are plenty of Wall Street billionaires who would love to fill PIF’s vacated seat at the table.”
Plenty of money exists within the American market, which Woods alluded to Tuesday.
“We have multiple options, but still, we would like to have a deal done by Dec. 31,” Woods added.
“That’s what the agreement said in the summer, and all parties understand that. But there are other options out there.”
Outside of these equity firms and sports ownership groups, it is unclear who else the tour has had discussions with.
Yet, Woods emphasized the importance of player involvement in these discussions. Many players who are a part of the PGA Tour’s governance have had many sleepless nights, mulling over the difficult decisions that will shape the future of professional golf.
“As long as a player has input and we’re able to make faster decisions, and the board recognizes that, I think that is one of the key things that the players, all the player directors have focused on,” Woods said.
“We can’t let that happen again. How do we do that? We have six player directors, so we control the board and what we’re going to do. We’re not going to have what transpired a few months ago without our involvement again.”
Woods wanted to join the PGA Tour Policy Board, to help reshape the tour for the better.
He is eager to get a deal done for the PGA Tour and the players’ sake. He wants to put golf’s great schism behind him.
But most importantly, he wanted to have the players involved. The PGA Tour is supposed to be a player-run organization, and tour brass left its membership entirely in the dark throughout the spring of 2023.
As Woods said numerous times Tuesday, that cannot happen again.
Despite that, the 15-time major champion is glad to make an impact, especially considering his mounting injuries over the past few years. Plus, he turns 48 years old on Dec. 30.
“I made an impact on the PGA Tour for a number of years hitting a golf ball and doing that,” Woods said.
“I can have, I think, a lasting impact by doing what I’m doing, by being on the board and being a part of the future of the PGA Tour.”
Overall, the frustrations Woods had on Jun. 6 and during the weeks that followed are now in the rearview mirror.
But now he can only look ahead, and the clock is ticking.
Jack Milko is a golf staff writer for SB Nation’s Playing Through. You can follow him on Twitter @jack_milko for more golf coverage. Be sure to check out @_PlayingThrough too.
