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The PGA Tour Policy Board met Tuesday, ahead of the 2023 Rocket Mortgage Classic, to discuss the movement of the landmark agreement between the Tour and Saudi Arabia’s Public Investment Fund announced on June 6. With the agreement in place, the next step in the process is negotiating with the Saudi PIF and finalizing deal details that, if agreed upon, would need to be approved by the Tour’s Policy Board and Player Directors.
“Entering the Framework Agreement put an end to costly litigation. Management, with input from our Player Directors, has now begun a new phase of negotiations to determine if the TOUR can reach a definitive agreement that is in the best of interests of our players, fans, sponsors, partners, and the game overall,” the Policy Board said in a statement. “That was the focus of our productive Policy Board meeting this afternoon, with valuable and crucial input and perspective from the membership through our Player Directors.
“If future negotiations lead to a proposed agreement, it would need approval by the TOUR’s Policy Board, which includes Player Directors. In the meantime, we are all committed to the safeguards in the Framework Agreement that ensure the PGA TOUR would lead and maintain control of this potential new commercial entity. We are confident that the TOUR’s mission will continue to focus on showcasing the game of golf while serving local communities.”
All 10 members of the board were in attendance at the meeting, including Rory McIlroy, Patrick Cantlay, Webb Simpson Charley Hoffman and Peter Malnati. PGA Tour commissioner Jay Monahan was absent as he continues to recover from a medical situation, but Tour executives Tyler Dennis and Ron Price were present in his place.
Details of the agreement remain scarce despite the framework being publicized Monday evening, but we do know the broad concept of the deal. The PGA Tour, DP World Tour and LIV Golf will be…
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Source : cbssports
