The PGA Tour and Saudi Public Investment Fund partnership continues to face vitriol.
PGA Tour policy board member Randall Stephenson resigned from his position citing “serious concerns” about the tour’s partnership with the Saudi Public Investment Fund according to the Washington Post. Randall had been a member of the PGA Tour policy board for 12 years.
Stephenson’s letter, dated Saturday, July 10, recognized that he cannot “in good conscience support” the deal given the U.S. report that said that the Saudis were responsible for the assassination of journalist Jamal Khashoggi in 2018.
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The approval of the 10-member policy board that Stephenson is stepping away from is the initial step needed in order for the partnership to be finalized.
“I hope, as this board moves forward, it will comprehensively rethink its governance model and keep its options open to evaluate alternative sources of capital beyond the current framework agreement,” Stephenson said in his letter.
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Stephenson indicated in his letter that he had planned to resign less than a week after the shocking announcement of the partnership between the PGA Tour and the LIV Tour’s backer on June 6. He decided to stay on longer due to the medical leave filed by PGA Tour Commissioner Jay Monahan.
Monahan announced on Friday, July 7, that he will make his return on July 17.
The PGA Tour and its partnership with the PIF is currently under investigation by congress. The PGA Tour to testify on Tuesday, July 11. Jimmy Dunne, another policy board member who reportedly helped broker the deal, is expected to testify.
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