PONTE VEDRA BEACH, Fla. — Jay Monahan, PGA TOUR Commissioner, speaks during the trophy ceremony during the final round of THE PLAYERS Championship on THE PLAYERS Stadium Course at TPC Sawgrass on March 12, 2023. | Photo by Sam Greenwood/Getty Images
Wednesday night, PGA Tour Commissioner Jay Monahan sent players a memo shedding more light on parts of the framework with the Saudi PIF.
In a memo to players Wednesday evening, PGA Tour Commissioner Jay Monahan detailed updates on the tour’s agreement with the Saudi Public Investment Fund (PIF).
Monahan noted that negotiations between the PGA Tour advisory board and the PIF are “ongoing,” according to James Colgan at Golf.com.
Furthermore, the memo indicated that PGA players who did not defect to the Saudi-backed LIV Golf tour would receive a “financially significant” repayment.
Many notable PGA stars received grandiose offers—some ranging in nine-figure amounts—from the PIF. Yet, those same players turned down the money, opting to play on the PGA Tour instead.
“This program, should we reach a Definitive Agreement, will be financially significant in total and incremental to our planned compensation package,” Monahan’s memo read. “More details to come as we determine how players from across the membership would benefit.”
PGA Tour policy board member Jimmy Dunne had previously alluded to a potential compensation package. But this is the first official notice provided to players from the tour directly.
With the PGA Tour entering a commercial partnership with the PIF, plenty of capital should be available for the tour.
According to reports, the PIF has over $720 billion in assets, as the Saudis are looking to diversify their economy as a part of Crown Prince Mohammed bin Salman’s “Vision 2030.”
Hence the Saudi’s commitment to professional golf.
Photo by Tom Dulat/Getty Images
ST ALBANS, England — Marc Leishman during day three of LIV Golf – London at The Centurion Club on July 9, 2023.
Monahan’s Jul. 26 memo also indicated that the tour has appointed a “task force” to develop “potential pathways back to the PGA Tour for LIV players who wish to reapply in the future.”
Despite this, the memo failed to recognize if penalties would be imposed on players who bolted for LIV and those who filed lawsuits against the PGA Tour.
Outside of these negotiations with the PIF, the PGA Tour has another battle on its hands.
Also within this memo, Monahan announced the PGA Tour’s opposition to the United States Golf Association (USGA) and R&A’s joint proposal to roll back the golf ball in men’s professional golf.
Players on tour can now hit the ball insurmountable distances, as golf’s governing bodies hope to reel that back as early as 2026.
Yet, Monahan said the PGA Tour is “not able to support” this proposal and that it is “not warranted and not in the best interest of the game.”
Monahan’s decrees on Wednesday come just nine days after he returned from a month-long health absence.
The reasoning behind his absence has not been disclosed, but many notable players have admitted to losing faith and trust in Monahan, especially since he left the PGA Tour just days after its bombshell announcement with the PIF.
But Monahan, at the top of the memo, assured he is back and feeling “stronger than ever.”
Jack Milko is a golf staff writer for SB Nation’s Playing Through. You can follow him on Twitter @jack_milko for more golf coverage. Be sure to check out @_PlayingThrough too.
