The PGA Tour and Commissioner Jay Monahan are making efforts to rebuild trust and confidence with players following the merger between the PGA Tour and LIV Golf a few months ago. In an attempt to address concerns and maintain transparency, the PGA Tour and its player members, player directors, and Player Advisory Council have agreed on new governance measures.
These measures grant the six-player directors full transparency and authority to approve or decline any potential changes to the tour within the existing framework agreement with Saudi Arabia's Public Investment Fund (PIF). This means that no major decision can be made without the involvement and approval of the Player Directors, including Tiger Woods, who has agreed to join the Tour's Policy Board.
Woods will join Patrick Cantlay, Charley Hoffman, Peter Malnati, Rory McIlroy, and Webb Simpson as the sixth Player Director on the board. The board also includes five independent directors, one of whom is Jimmy Dunne, who played a role in brokering the merger between the PGA Tour and LIV Golf.
Player leaders came together after the merger announcement in June to demand changes that align with the PGA Tour's principles of being a player-driven organization. Woods expressed confidence in Commissioner Monahan and thanked him for addressing their concerns.
As part of the framework agreement, the PGA Tour will retain its tax-exempt status and continue running its own events, with Monahan as the commissioner. However, it will also become part of a new, collectively owned, for-profit entity that includes the Saudi PIF as the exclusive investor. Monahan will serve as the CEO.
In today's announcement, Monahan emphasized his commitment to regaining the players' trust and ensuring their input and approval in any agreements. Woods' inclusion as a Player Director is seen as valuable due to his leadership and contributions to the success of the PGA Tour.
Under the new transparency measures, the player directors will be kept fully informed about the negotiations between the PGA Tour and the PIF through special advisor Colin Neville, who will have access to all relevant documents and information.
Overall, these steps taken by the PGA Tour and Commissioner Monahan aim to address player concerns, maintain transparency, and rebuild trust following the merger with LIV Golf.