Tiger Woods has been selected as the sole player on a five-member subcommittee tasked with negotiating with the Public Investment Fund as part of the PGA Tour's efforts to strike a deal with Saudi backers of LIV Golf. Woods, who joined the PGA Tour board in August, holds a unique position as the sixth player-director with no term limits.
The newly formed 'transaction subcommittee' on the board of PGA Tour Enterprises will oversee day-to-day negotiations with the PIF seeking to become a minority investor. Joining Woods on the subcommittee are PGA Tour Commissioner Jay Monahan, board chairman Joe Gorder, John W. Henry of Fenway Sports Group, and Joe Ogilvie, a former tour player appointed as a director liaison in March.
The subcommittee will provide updates to the full board, which recently saw Rory McIlroy's bid to rejoin the board face resistance from some members. McIlroy had hoped to replace Webb Simpson, who offered to resign on the condition that McIlroy would succeed him. However, the board opted for Jordan Spieth to fill the vacancy left by McIlroy's previous resignation.
The seven player-directors, including Woods, Spieth, Simpson, Ogilvie, Patrick Cantlay, Adam Scott, and Peter Malnati, serve on both the PGA Tour and PGA Tour Enterprises boards. The commercial entity recently secured a deal with Strategic Sports Group as a minority investor, involving a substantial investment ranging from $1.5 billion to potentially $3 billion.
Despite the recent developments, McIlroy remains committed to contributing his insights and influence unofficially, given his experience on the board and his global relationships within the sport. The ongoing negotiations with the PIF, aimed at addressing the division in golf and fostering reunification, have yet to yield significant progress since the framework agreement was announced in June.
Woods, Monahan, and Henry were part of a delegation of player directors who met with PIF governor Yasir Al-Rumayyan in the Bahamas in March. Woods expressed optimism following the meeting, indicating a positive trajectory in the discussions.
Gorder, the chairman and CEO of Valero, has been appointed as the inaugural chairman of the PGA Tour Enterprises board, overseeing the strategic direction of the organization during this critical period of negotiations.
