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One year ago today, the PGA Tour and the Saudi Arabian PIF announced a shock merger agreement with each other after weeks of undisclosed negotiations. Amidst the LIV Golf vs. PGA Tour saga that left the entire golf world split, the merger agreement aimed to serve as a unifying factor for the sport.
In an unexpected press conference, PGA Tour commissioner Jay Monahan and PIF governor Yasir Al-Rumayyan sat together, talking about the combination of the two rival league. During the announcement of the merger agreement, the expected timeline was December 31st, 2023.
There would also be the formation of a new organisation to bring the PGA Tour, the DP World Tour, and LIV Golf under one umbrella - the PGA Tour Enterprises. The announcement of the merger also left many pro golfers, analysts and the audience torn.
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June 2023: The PGA Tour and PIF's Senate investigation
The agreement, however, hit a major snag just as the Senator Richard Blumenthal, Democrat of Connecticut, decided to open an investigation about the merger. There were concerns about 'sportswashing' as well as the 'disturbing human rights record of Saudi Arabia'.
Here's what Blumenthal said about the investigation via CNN:
“There’s an ongoing Department of Justice investigation, I would intensify it and focus not only on the anti-trust issues, but also on the potential foreign registration questions."
The investigation was taken to the Congress in June and July of 2023 and continued into early 2024. The probe has not ended yet, but did lose steam over the months.
July 2023: Jay Monahan returns after taking leave over mental health issues due to PGAT- PIF deal
During this time, Jay Monahan also received quite a bit of flak from golf stars and the golf world. Several PGA Tour golfers expressed their surprise and disappointment over not being informed or even hinted at regarding the situation that was to come.
He took a leave that lasted for a little over a month, and came back on July 17. Speaking about his leave, Monahan said via Golf Digest:
“I realized that I need to step away and deal with that and to develop the skills to deal with that going forward. Ultimately, you can’t wait when you’re in a situation like that, and I needed to deal with it. I needed to deal with it for my family and for myself. That was a very hard thing for me.”
Monahan also mentioned how the announcement was a hasty one, and could have been publicly declared after a little bit more consideration.
October - December 2023: LIV Golf makes big moves amidst rumours of it being dissolved
The agreement, which was expected to be completed by December 31, also brought about discussions of the future of the LIV Golf Series. While many thought that the Saudi backed tour would be dissolved during the creation of the PGA Tour Enterprises, LIV CEO Greg Norman spoke out for the first time since the agreement.
He said (via SB Nation):
“LIV is and will continue to be a standalone enterprise. Our business model will not change. We changed history, and we’re not going anywhere.”
During this time, not only did the Series announce its 2024 schedule, but also poached the World No. 3 golfer from the PGAT. In what was a big blow to the PGA, Jon Rahm announced that he would be switching to the LIV Golf Series. Tyrrell Hatton soon followed suit in early 2024.
January - February 2024: PGA Tour hits back with new investment from the Strategic Sports Group
The beginning of the new year also brought about a new investment for the PGA Tour Enterprises. The Strategic Sports Group announced an investment of $3 billion, with $1.5 billion being awarded as equity to Tour players.
Speaking via AP News, Tiger Woods expressed optimism about the inclusion of different minority investors in the game.
"As the tour grows, we grow. So the more we invest into the tour, the more we get the benefits of it, which has never been — it’s never happened in sports history. So we’re the first. Exciting for me to be able to be part of that.”
The negotiations seemed to be making headway soon after SSG's announcement.
March - April 2024: Negotiations make headway with Tiger Woods spearheading the deal
The merger agreement seemed to be making headway, as the player directors, including Tiger Woods, made a trip to the Bahamas to meet Yasir Al-Rumayyan. Talks were held about the vision, the priorities, and the future of golf. Both parties negotiated with an open mindset, and the deal seemed to be taking a positive turn.
In April 2024, it was announced that Tiger Woods would be the sole golfer on the PGA Tour policy board sub-committee that would carry out negotiations with the PIF.
May - June 2024: The PGA Tour policy board falls apart, and one year later there is still no deal on the table
There was a lot of tension regarding the negotiations between the PGA Tour and the PIF. Rory McIlroy, who had stepped down from the PGA Tour board earlier in the year, said that he was open to coming back if it would help further the negotiations.
However, after reports of internal backlash, McIlroy took a step back. Soon after, directors from the Policy Board resigned, with Jimmy Dunne sending out a strongly worded resignation.
On June 6, 2024, the PGAT- PIF merger completed, one year after the announcement. However, there is no clarity in sight so far and the golf world remains just as confused as it was a year ago.
