PGA Tour commissioner Jay Monahan provides update on LIV Golf merger

Jay Monahan says negotiations with the Saudi Arabia Public Investment Fund are ‘accelerating’ as the wait for a resolution to the PGA Tour-LIV Golf saga drags on.

Jay Monahan, the commissioner of the PGA Tour, stated that discussions with the Saudi Arabia Public Investment Fund (PIF) for a merger deal are currently in progress and moving quickly.

Progress has been sluggish ever since the surprising announcement nine months ago that the tour had entered into a framework agreement with the PIF, the supporter of the breakaway LIV Golf circuit. Several deadlines have come and gone without reaching a finalized agreement.

Meanwhile, the tour has finalized a $3 billion investment agreement with the Strategic Sports Group consortium, led by Fenway Sports Group, the owners of Liverpool and the Boston Red Sox.

Despite this, Monahan stated during a press conference before The Players at TPC Sawgrass that the tour is still planning to establish official connections with PIF.

“As mentioned on several occasions before, it is not possible to conduct negotiations like this in a public setting, so I will keep my remarks brief,” he stated.

“I recently had a meeting with the governor of the Public Investment Fund, Yasir Al-Rumayyan, and our discussions are progressing as we spend more time together.

Although there are a few important matters that still need to be addressed, we both share a common goal of reducing distractions and tapping into the global potential of golf.”

“It’s going to take time, but I reiterate what I said at the Tour Championship in August. I see a positive outcome for the PGA Tour and the sport as a whole. Most importantly, I see a positive outcome for our great fans.”

Monahan has faced firm criticism from fans and players for his handling of the LIV Golf saga, and he admitted at Sawgrass that he had made mistakes. But he insists the tour has only improved since the merger deal was announced and he has become a “stronger leader” through the process.

Looking back, there are always things we wish we could do differently. I have discussed this with our players, and it’s clear that I could have handled last summer better.

I take full responsibility for my actions and acknowledge that I could have done better. However, we have progressed significantly since then.

I have gained valuable lessons, become more humble, and believe I have grown as a leader. I am thrilled about the advancements we have achieved since then.

Running a business with over 200 members, 100 corporate partners, 50 tournament organizations, and various communities to oversee can be quite challenging.

The speaker expresses pride in both the players and team members, and emphasizes the continuous strive for improvement. “As a company, I believe we have made significant strides over the last few months, and I anticipate that the next time I address you all, we will have even more achievements to share.”