PGA Tour players send letter to policy board demanding transparency amid negotiations with Saudi Arabia PIF

news7g12/14/2023

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The PGA Tour could be on the cusp of yet another legal battle, this time with its own players. In a letter to the PGA Tour Policy Board obtained by multiple outlets, 21 players have demanded information regarding the bids from capital partners to invest in the PGA Tour’s new for-profit arm: PGA Tour Enterprises.

“The board has recently received multiple bids by prospective capital partners that will potentially transform how the PGA Tour operates, who controls it, and who owns it,” the letter sent by Susman Godfrey LLP read. “All but a handful of PGA Tour players have been kept entirely in the dark about the prospective transaction, how it will impact them, and what conflicts of interest may impact the decision-makers.”

“We demand full disclosure of the details and analyses of any proposals by prospective capital partners, which should be shared promptly with all Tour players,” the letter continued. “We also demand a meeting with the independent directors on the policy board to understand the process that has been followed and will be followed going forward. Importantly, we seek assurances that all conflicts of interest will be disclosed and will not be permitted to color the decision-making process.”

This letter follows the petition which circulated around membership during the first week of December demanding a special meeting with the board to discuss the Player Impact Program, leadership and the allocation of FedEx Cup points in 2024 signature events. The policy board sent an email on Monday denying the request to modify FedEx Cup points in those tournaments.

The policy board also informed members on Sunday of its plans to further negotiate with the Strategic Sports Group, a collection of U.S. sports team investors. Fenway Sports Group, Arthur Blank, Gerry Cardinale, Cohen Private Ventures and Marc Attanasio are among those in the group. In addition to unanimously voting to continue conversations with SSG, the board announced its plans to advance negotiations with the Saudi Arabian Public Investment Fund. Commissioner Jay Monahan and Saudi PIF governor Yasir Al-Rumayyan are scheduled to meet this week.

The PGA Tour and LIV Golf’s financial backers are now in a race against the clock as they attempt to hash out a deal by the self-imposed year-end deadline. The two could agree to an extension, if necessary, but it is clear world No. 3 Jon Rahm’s departure to LIV Golf has renewed energy in the discussions.

It also remains clear the policy board is aiming to squash any transparency issues players have felt since the June 6 framework agreement was announced. Measures such as adding Tiger Woods to the policy board and players having the final vote on any details regarding a deal between the PGA Tour and PIF have been implemented to make sure another kerfuffle does not unfold.

Below are the 21 players attached to the letter: