PGA Tour commissioner Jay Monahan says progress is being made with the Saudi PIF but although positive he says the sheer complexity of the matter is why a deal remains some way off.
It’s now just over a year since the shock initial ‘framework agreement’ was first agreed and published, and as yet no final deal has been struck.
Monahan sent a memo out to players to issue a positive update ahead of the Travelers Championship, and in a rare press conference later tried to explain what the huge delay was.
Monahan says that only certain aspects of that framework agreement are now in place, and that they were “building from the ground up” having largely started again.
PGA Tour and PIF representatives – including both chairmen and Tiger Woods – met in New York on June 7 to discuss building a successful future for men’s professional golf, but that meeting has not brought about a deal.
Having Strategic Sports Group (SSG) on board as investors has brought a wealth of sports business experience with them, and Monahan says that although they are the right people to take part in discussions – even those more experienced in business find the situation a complex one.
“All I can say is that when you have people the likes of John Henry and Arthur Blank, Sam Kennedy, Andy Cohen, Joe Gorder, a lot of people that – some people are new to our sport, but have massive experience in sport in the corporate world. When they say that this is one of the more complex scenarios that they have ever seen, I think that says a lot,” Monahan said at his press conference.
“So, as it relates to whether or not the complexity is being underestimated, I think it’s only fair to say that unless you have a full context for everything that’s being discussed, it would be unreasonable for anyone to think that you would fully understand the complexity.
“But with complexity comes opportunity. So there are a lot of different factors at play, but nobody who is having the conversation is unaware of the complexity, and everyone I think is embracing the fact that there are things, obstacles and things you got to overcome in a complex situation.
“We have the right people around the table for us and they do as well.”
(Image credit: Getty Images)
Monahan insisted that some parts of that initial framework agreement are still…
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