Tiger Woods heads to PGA Tour HQ to discuss the circuit’s future.
Tiger Woods is said to have visited PGA Tour headquarters today for a “important” board meeting as the circuit focuses on identifying PGA Tour Enterprises’ principal investment partner.
With the June 6 announcement of a shock Framework Agreement with the Saudi Public Investment Fund (PIF), a new entity, PGA Tour Enterprises, was established.
In the event that the PGA Tour, DP World Tour, and Saudi PIF—the financiers of the Tour’s adversary, LIV Golf League—merge in 2024, the top division of men’s professional golf as it currently exists will be significantly altered.
In August, Tiger Woods was elected as the sixth player to serve on the PGA Tour policy board.
PGA Tour players Rory McIlroy, Webb Simpson, Patrick Cantlay, Charley Hoffman, and Peter Malnati were among those who shared the scoreboard with the 15-time major champion.
Players now control half of the 12-seat board, giving them more influence over the PGA Tour’s future.
That’s the reason why McIlroy and Woods are both greatly influencing the PGA Tour.
Together with McIlroy, Woods founded the tech-infused golf league (TGL), which will launch in January 2024.
Will Saudi PIF and the PGA Tour combine?
The PGA Tour, DP World Tour, and Saudi Public Investment (PIF) are still in negotiations.
Officials from the PGA Tour have declared that they are making every effort to approve the deal.
The PGA Tour commissioner, Jay Monahan, has emphasized that each party’s contribution has been enormous.
According to a source familiar with the negotiations, the PGA Tour is amassing a $2 billion war chest through private equity investments in case the deal collapses.
Golfweek reports that the PGA Tour has reduced the number of businesses vying to be private equity partners in its new for-profit organization to just five.
Fenway Sports Group (FSG), Liberty Strategic Capital, Acorn Growth Companies, Eldridge Industries, and Friends of Golf are a few of these businesses.
Endeavor was informed last week that its proposal to collaborate with the PGA Tour had been turned down.
It is understood that the PGA Tour’s board of directors is receiving preferred options this week from the five groups that are still in the running.
Woods is very much present, as the well-known TWLegion account attests to.
TWLegion tweeted on November 13:
“Unclear where the PGA Tour is currently at with its review of potential private equity partners but we hear Tiger is up at Tour HQ in Ponte Vedra today for a significant board meeting.”
Woods was last week seen caddying for his son Charlie Woods as his return to PGA Tour action draws ever closer.
The former World No.1 has been out of action since undergoing ankle surgery after withdrawing from The Masters in April 2023.
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