Rory McIlroy will participate in the Saudi negotiations as a member of the transactions committee
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Mark Schlabach, ESPN Senior Writer
Rory McIlroy will not return to the PGA Tour’s policy board, but he will still participate in negotiations with Saudi Arabia’s Public Investment Fund over a potential multibillion-dollar investment in PGA Tour Enterprises as member of the newly formed trading committee, the tour announced Thursday.
McIlroy had hoped to rejoin the PGA Tour’s policy committee but said he would not replace him Webb Simpson because of other player directors’ concerns about bringing him back.
Former CEO of Valero Energy Corp. Joseph W. Gorder was unanimously elected by the PGA Tour Enterprises board of directors as its inaugural president, the tour organization said in a press release.
Gorder, currently executive chairman of Valero Energy’s board of directors, will also serve on the transactions subcommittee, along with the director of player communications Joe OgilvieFenway Sports Group founder and principal owner John W. Henry, PGA Tour commissioner Jay Monahan, and golfers Adam Scott, tiger forest and McIlroy.
Gorder joined the PGA Tour’s policy committee last year.
“Joe’s outstanding business acumen and leadership, highlighted by his time as president and CEO of a Fortune 50 company, position him as president and CEO of a Fortune 50 company,” Monahan said in a statement. is the perfect person to lead the PGA Tour Enterprises board of directors as we embark on this new chapter.” “His strategic vision is vital as we collaborate – player directors, board members and league managers – all together to bring the best to the fans, the who remains our top priority, while enhancing the overall tournament for our players and sponsors.”
McIlroy, who resigned from the policy board on November 14, is expected to replace Simpson on that board and the board of directors of PGA Tour Enterprises, the new for-profit organization the tour formed. established with Strategic Sports Group in January.
SSG, a consortium of billionaire American sports team owners and celebrities, made an initial investment of $1.5 billion — with up to $3 billion available.
McIlroy is increasingly frustrated by the lack of progress in the PGA Tour’s negotiations with PIF, which sponsors rival LIV Golf League. The parties signed a framework agreement on June 6 and the deadline passed on December 31. The parties have continued negotiations over the past four months.
McIlroy said Wednesday that the idea of him returning to the policy department “opened up some old wounds and scars from things that happened before.” According to McIlroy, there is a small group on the board who “might be uncomfortable” with the idea of him returning.
“I don’t necessarily think or believe that people don’t want me involved, it’s just the process of how can I get involved again, right?” McIlroy said. “Like the board has [gone] through this massive eight-month governance review, and what happened with Webb and me and that whole thing, that’s outside the scope of governance, right?
“So what’s the process of trying to get me back going to be like? That’s really the point of it all.”
After shooting a 4-under 67 in the first round of the Wells Fargo Championship at Quail Hollow Club in Charlotte, North Carolina, on Thursday, McIlroy was asked if his relationship with Woods was strained. .
“Friends can have disagreements, or disagree with each other but disagree about everything,” McIlroy said. “I think that’s fine. But no, we had a really good 45-minute conversation last Friday about various issues. No, there’s no tension at all. I think we might look at the future of golf a little differently, but I don’t think that would put a strain on a relationship or a friendship.”
McIlroy said he had a video conference with other members of the trading committee for more than an hour on Sunday. The team went through a 150-page document that outlined the future tour’s product model.
“Yeah, I’m not on the board, but in some way I’m involved with that trading committee,” McIlroy said. “I don’t have a vote, so, you know, I guess I don’t have a meaningful say in what happens going forward, but at least I feel like I can be helpful on that committee , and that’s I guess it’s a compromise for not getting a seat on the board.”
Simpson, 38, is finishing his term, which expires in 2025. He had planned to resign from both boards to spend time with his family.
“I felt really comfortable with Webb in that chair,” McIlroy said. “Webb is a very calm, balanced guy with a big picture vision. If it’s not me in his seat then the next best thing is for Webb to stay. Yeah, I’m happy about that.”
Along with Simpson, Scott and Woods, Patrick Cantlay, Peter Malnati And Jordan Spieth is a player director on the policy board.
