Speculation has been swirling in the golf world this week regarding players leaving the PGA Tour to join LIV Golf. In response, the circuit’s six policy board player directors, including Tiger Woods, Charley Hoffman, and others, released a two-page update addressing the ongoing negotiations with Saudi Arabia’s Public Investment Fund and the awaited “governance” review.
In a memo sent to players late Friday, the player directors aimed to provide clarity amidst the speculation, stating, “With the 2024 season just around the corner and with so much speculation in our game, we wanted to speak to you directly.” The memo highlighted the efforts of the player directors, emphasizing their commitment to positioning the PGA Tour for long-term success.
The update mentioned the creation of a “governance committee” to ensure that major decisions involve the prior involvement and approval of the player directors. It also referenced ongoing negotiations with PIF and the DP World Tour towards a definitive agreement by the Dec. 31 deadline outlined in the framework agreement.
The memo also alluded to potential investment opportunities, indicating that the player directors are working towards a unanimous consensus before voting on any proposal related to creating a for-profit entity or third-party investment. The focus appears to be on securing equity grants for members, signaling the directors’ commitment to providing ownership opportunities to both current and future PGA Tour members.
This update echoes comments made by Woods earlier in the week, offering limited details but providing insight into the Tour’s objectives and ongoing negotiations. For more information, you can find the memo sent to players and details on the ongoing negotiations at https://sports.yahoo.com/woods-player-directors-call-speculation-030836510.html.
