“I don't think it is a merger” - PGA of America CEO Seth Waugh claims ‘misunderstanding’ in the PGA Tour-PIF deal

In breaking development, the US Senate Permanent Subcommittee investigating the recent PGA Tour deal with the Saudi Public Investment Fund (PIF) has invited PGA Tour commissioner Jay Monahan, LIV Golf CEO Greg Norman, and Saudi Arabia’s PIF governor Yasir Al-Rumayyan, to testify at a public hearing next month. Amid this, PGA of America CEO Seth Waugh has come out to state that the PGA Tour-PIF deal might not be a merger.

Waugh on Wednesday said that he doesn’t think PGA Tour and PIF are going through a merger. The PGA of America CEO commented on the issue after discarding the shocking deal as not his organization’s news story. Waugh, who has been questioned a few times about the move made by Jay Monahan and Yasir Al-Rumayyan, insisted that the PGA of America is not involved in the deal by any degree. Furthermore, he stated that people taking it (PGA-PIF deal) as a merger are 'misunderstanding' the 'handshake'.

Speaking to media at the KPMG Women’s PGA Championship about the PGA Tour-PIF deal, Seth Waugh said, as quoted by Golf Monthly:

“I don't think it (the deal) is a merger. I think that's a misunderstanding of what this handshake is. We're still waiting for lots of details on what it ultimately looks like.”

He went on to state that his organization was not part of the deal. The PGA of America chief added:

“Look, this is not our news story, right, it's others.' This is the PGA Tour and not PGA of America. Sadly, we've been - our brand has been dragged into it because people don't totally understand the difference between the two of us.”

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Seth Waugh remains critical of the PGA Tour-PIF deal

It is pertinent to note that Seth Waugh had previously slammed LIV Golf's flawed business model. The PGA of America chief had insisted that LIV was “unsustainable,” as the PIF was spending large sums with little to no returns. However, the recent agreement between Jay Monahan and Yasir Al-Rumayyan seems to have shocked Waugh along with the rest of the world.

Despite the big news, Waugh is sticking to his assessment of LIV Golf and downplayed the PGA Tour-PIF deal being worked out.

He added:

“I do think that peace is better than war for the whole game because I think you were getting unnatural acts… And I've been pretty vocal about saying that I didn't think it was a sustainable business model, and that's speaking as a pure sort of business person.

"In some ways, I'm hopeful, but obviously it's created an enormous amount of conversation and angst and confusion, and we're a bit a part of that confusion, as well, and trying to sort through it all. I don't think there's any direct effect on us specific to this. Certainly, the war had some implications of competing against a business model that wasn't a business model, and we have to do that, too, and we'll see how it all plays out.”

Interestingly, Waugh’s comments came just hours after the US Senate invited Monahan, Norman, and Al-Rumayyan to testify at a public hearing on July 11. The golf world is eagerly looking forward to developments in the case.