PGA Tour and Saudi Arabia Public Investment Fund remove key clause from framework agreement, according to report

The PGA Tour and the Saudi Arabia Public Investment Fund have removed the no-bid clause from their framework agreement, according to The New York Times. One of the few binding terms in the agreement, the non-promotion clause states that the PGA Tour, DP World Tour and LIV Golf will not solicit or recruit players from opposing leagues.

According to the report, people familiar with the situation argue that the removal of the provision is due to antitrust pressure imposed by the Justice Department as it tightens the labor market and curtails competition for workers. play. This provision was put in place to stem the flow of players between the three tours – mainly the outflow to LIV Golf – as the PGA Tour and PIF negotiate the terms of their agreement to host the activities. trade under a new for-profit organization called PGA Tour Enterprises.

Legal tensions continue to engulf the landmark agreement between the PGA Tour and PIF. On Tuesday, PGA Tour executive director Ron Price and policy board member Jimmy Dunne testified at a hearing of the US Senate Standing Subcommittee on Investigations into the “PGA-LIV Agreement: Italy” Meaning for the Future of Golf and Saudi Influence in the United States.”

“I’m afraid that if we don’t come to an agreement, they [PIF] Dunne said at the Senate hearing has invested billions of dollars in golf. “They have a management team that wants to destroy the league. Although you could say hire five or six players a year, they have unlimited vision and unlimited money.”

6B Final Agreements in Dispute Resolution; No referendum stated:

As of the date of the Agreement, pursuant to Paragraph 10 of this document, PIF, PGA TOUR, DP World Tour all agree that they will and will make their affiliates (including LIV, but not including Asian Tour or MENA). Tour) to the extent that the PIF does not control these entities) and other representatives on their behalf do not directly or indirectly enter into any contract, agreement or arrangement with, solicitation or employment of any any player who is a member of another person’s organization or tournament to become a member of their respective organizations or any other golf tournament or participate in golf events organized by any golf tournament organize or terminate their membership with the LIV, PGA TOUR or DP World Tour, if applicable.

Players like Dustin Johnson, Cameron Smith, Brooks Koepka, Bryson DeChambeau and Phil Mickelson are all believed to have won contracts in the nine-figure range to move from the PGA Tour to LIV Golf.