Dustin Johnson and Phil Mickelson during a LIV Golf event in Miami in October 2023. | Photo by Cliff Hawkins/Getty Images
Peter Malnati, one of the six player directors on the PGA Tour Policy Board, shared insight into the tour’s equity program.
After shooting a 6-under 66 during the third round of The Players Championship, Peter Malnati headed to the interview area to speak with the media.
He briefly touched on his round, which featured a run of birdies on the back nine, including one of the famous par-3 17th. But Malnati primarily discussed the PGA Tour’s current situation with LIV Golf and its benefactor, the Saudi Public Investment Fund (PIF).
As a PGA Tour policy board member, Malnati is in the loop regarding the ongoing negotiations between the tour and the PIF. But he did not have much to say about a secret meeting that will reportedly take place after The Players.
“I would rather tell our membership first,” Malnati said. “But I don’t know where it is or how I’m getting there. I would like to know that information, and I would like to then tell the membership about it before I talk about it.”
And yet, Malnati proved to be a wealth of information once he started talking more with the press.
One reporter then asked the one-time PGA Tour winner about a potential path back for LIV golfers. The tour suspended any player who joined LIV.
Malnati answered with gold:
“I think the easiest, most likely route we go when we do find a way for guys to come back, is just guys aren’t coming back to the PGA Tour with membership on the PGA Tour,” Malnati explained.
Photo by Kevin C. Cox/Getty Images
Peter Malnati.
“I think there are certain methods that we’ve been able to establish and put in place that will be really, really good for the PGA Tour and its membership, and our fans too. This player equity plan, I don’t understand it, it’s a little bit above my head, but I certainly know enough to say that I really do support it…
“It’s going to make players owners of the Tour, and guys who violated our policies aren’t ever going to be eligible for that. That’s a big deal. Like, that’s a big, big deal.”
Anyone who joined LIV Golf violated the PGA Tour’s policies and, therefore, will not be included in the PGA Tour’s $930 million equity plan.
Of that plan, the top 36 players will receive $750 million in equity shares, while the remaining $180 million will be distributed to 121 more players and other legends of the game.
“We have to work through all that,” Malnati continued.
“I’m definitely of the mind that, in some way, shape, or form, we need to give our fans a product where, when we have events like this, at the best venues, with the best everything, we have the best players in the world playing. We need to find a way to give that to our fans. Because that’s what they deserve for being loyal to us.”
Jack Milko is a golf staff writer for SB Nation’s Playing Through. Be sure to check out @_PlayingThrough for more golf coverage. You can follow him on Twitter @jack_milko as well.
