The PGA Tour and the Public Investment of Saudi Arabia are still in talks, but due to recent resignations, they are currently conducting these talks without two important policy board members.
As negotiations over a peace agreement with the Public Investment Fund of Saudi Arabia (PIF) proceed, Mark Flaherty, a member of the PGA Tour policy board, has become the most recent to step down from his position.
In an attempt to end their animosity with LIV Golf, the Tour has been in negotiations with PIF. However, they will now have to function without one of their board members, as Flaherty chose to resign over the weekend. Commissioner Jay Monahan informed the players of the news in a memo.
In his letter of resignation, the outgoing director called his tenure on the board a “privilege and honor.” “My life has always revolved around golf,” Flaherty wrote in a letter to his fellow directors.
“It has been an incredibly fulfilling experience to be able to combine my love of the game with the intricate operations and expansion of the PGA Tour.” “I would like to extend my heartfelt thanks to Chairman Herlihy and Commissioner Monahan for their leadership in driving a successful business and product agenda,” he continued, expressing gratitude to Monahan.
It is one that constantly puts the needs of our supporters, athletes, media, title sponsors, competitions, marketing partners, and volunteers first. I also want to sincerely thank the PGA Tour staff for their hard work in supporting the Board and making sure our events are executed flawlessly every week, which results in an excellent product that the golf community can enjoy.
“I want to thank everyone that has helped me during my time on the Policy Board. Sincerely, Mark Flaherty. Following Jimmy Dunne’s resignation last week, Flaherty became the second board member to leave in as many days.
Dunne was instrumental in reaching the initial framework agreement with PIF, but he has resigned from his position and will not be involved in the agreement going forward. When defending his choice, the former director emphasized how little progress was being made in the ongoing negotiations and expressed serious doubts about the peace agreement being finalized anytime soon.
In his letter of resignation, he stated that “no meaningful progress has been made towards a transaction with PIF.” In retrospect, he said, “Everyone involved in the game was concerned about the fundamental threat of LIV Golf when I joined the board in January 2023.
“I contacted the Public Investment Fund, the majority owner of LIV, per Commissioner Monahan’s instructions, to try to resolve the lawsuits and bring the game back together. Crucially, we reached a consensus whereby the lawsuits were thrown out with prejudice and a way was established for the Tour to continue running professional golf. I think history will view this result favorably, as well as the very real opportunities that the Tour is now enjoying.
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