In a memo to gamers Wednesday night, PGA Tour Commissioner Jay Monahan detailed updates on the tour’s settlement with the Saudi Public Funding Fund (PIF).
Monahan famous that negotiations between the PGA Tour advisory board and the PIF are “ongoing,” based on James Colgan at Golf.com.
Moreover, the memo indicated that PGA gamers who didn’t defect to the Saudi-backed LIV Golf tour would obtain a “financially vital” reimbursement.
Many notable PGA stars obtained grandiose presents—some ranging in nine-figure quantities—from the PIF. But, those self same gamers turned down the cash, opting to play on the PGA Tour as an alternative.
“This program, ought to we attain a Definitive Settlement, shall be financially vital in complete and incremental to our deliberate compensation bundle,” Monahan’s memo learn. “Extra particulars to come back as we decide how gamers from throughout the membership would profit.”
PGA Tour coverage board member Jimmy Dunne had beforehand alluded to a possible compensation bundle. However that is the primary official discover offered to gamers from the tour straight.
With the PGA Tour getting into a industrial partnership with the PIF, loads of capital must be accessible for the tour.
In line with studies, the PIF has over $720 billion in property, because the Saudis need to diversify their financial system as part of Crown Prince Mohammed bin Salman’s “Imaginative and prescient 2030.”
Therefore the Saudi’s dedication to skilled golf.
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Monahan’s Jul. 26 memo additionally indicated that the tour has appointed a “activity power” to develop “potential pathways again to the PGA Tour for LIV gamers who want to reapply sooner or later.”
Regardless of this, the memo failed to acknowledge if penalties could be imposed on gamers who bolted for LIV and people who filed lawsuits towards the PGA Tour.
Outdoors of those negotiations with the PIF, the PGA Tour has one other battle on its fingers.
Additionally inside this memo, Monahan introduced the PGA Tour’s opposition to the US Golf Affiliation (USGA) and R&A’s joint proposal to roll again the golf ball in males’s skilled golf.
Gamers on tour can now hit the ball insurmountable distances, as golf’s governing our bodies hope to reel that again as early as 2026.
But, Monahan mentioned the PGA Tour is “not in a position to help” this proposal and that it’s “not warranted and never in the very best curiosity of the sport.”
Monahan’s decrees on Wednesday come simply 9 days after he returned from a month-long well being absence.
The reasoning behind his absence has not been disclosed, however many notable gamers have admitted to dropping religion and belief in Monahan, particularly since he left the PGA Tour simply days after its bombshell announcement with the PIF.
However Monahan, on the high of the memo, assured he’s again and feeling “stronger than ever.”
Jack Milko is a golf employees author for SB Nation’s Enjoying Via. You’ll be able to comply with him on Twitter @jack_milko for extra golf protection. You should definitely try @_PlayingThrough too.
