Negotiations between PGA TOUR Enterprises, PIF continue to progress

Negotiations between PGA TOUR Enterprises and the PIF continue to progress after an in-person meeting Friday between Enterprises' Transactions Subcommittee and PIF Governor Yasir Al-Rumayyan and his team.

The meeting took place in New York City as talks between the two sides continue to accelerate.

"Representatives from the PGA TOUR Enterprises Transaction Subcommittee and the PIF have been meeting multiple times weekly to work through potential deal terms and come to a shared vision on the future of professional golf,” the seven-person PGA TOUR Enterprises Transaction Subcommittee said in a joint statement. "On Friday evening, an in-person session in New York City included the entire Transaction Subcommittee and PIF Governor Yasir Al-Rumayyan and his team, where more progress was made."

The PGA TOUR Enterprises Transaction Subcommittee, which is engaged in direct negotiations with the PIF, includes three active PGA TOUR players – Rory McIlroy, Tiger Woods and Adam Scott – and four additional members of the PGA TOUR Enterprises Board:

• Jay Monahan, PGA TOUR Commissioner and Chief Executive Officer of Enterprises
• Joe Gorder, Chairman of PGA TOUR Enterprises
• John W. Henry, principal, Fenway Sports Group and manager, Strategic Sports Group
• Joe Ogilvie, a former PGA TOUR winner and Liaison Director of PGA TOUR Enterprises’ Board

Rory McIlroy, who is currently competing in the Memorial Tournament presented by Workday, joined the meeting remotely.

“We remain committed to these negotiations, which require working through complex considerations to best position golf for global growth,” the Transaction Subcommittee said in the statement. “We want to get this right, and we are approaching discussions with careful consideration for our players, our fans, our partners and the game’s future.”