PGA of America CEO Seth Waugh insists the big huge deal that shocked golf is between the PGA Tour and Saudi Arabia Public Investment Fund (PIF) and “not our news story”, while adding that he did not think the move was a merger.
Waugh has been questioned a few times about the move by Jay Monahan to join forces with Yasir Al-Rumayyan, but insists the PGA of America have no part in the deal or how it will eventually work out.
He did, though, point out that he did not characterise the deal as a merger, even though nobody really knows what it will actually look like in the future.
“Look, this is not our news story, right, it’s others’,” said Waugh at the KPMG Women’s PGA Championship.
“This is the PGA Tour and not PGA of America. Sadly, we’ve been – our brand has been dragged into it because people don’t totally understand the difference between the two of us.
“I don’t think it is a merger. I think that’s a misunderstanding of what this handshake is. We’re still waiting for lots of details on what it ultimately looks like.”
Waugh has previously had his say on what he called LIV Golf’s flawed business model which he insisted was unsustainable, with the PIF spending so much to set it up but getting relatively little in return.
The future of LIV Golf is one of several big talking points of the deal, with Greg Norman reportedly saying it’s business as usual but Rory McIlroy fully expects it go to away after the deal is completed.
Waugh is sticking to his assessment of LIV Golf as people wait and see just what will happen with the team golf organisation once the full PGA Tour-PIF deal is worked out.
(Image credit: Getty Images)
“I do think that peace is better than war for the whole game because I think you were getting unnatural acts,” Waugh added.
“And I’ve been pretty vocal about saying that I didn’t think it was a sustainable business model, and that’s speaking as a pure sort of business person.
“In some ways, I’m hopeful, but obviously it’s created an enormous amount of conversation and angst and confusion, and we’re a bit a part of that confusion, as well, and trying to sort through it all.
“I don’t think there’s any direct effect on us specific to this. Certainly the war had some implications of competing against a business model that wasn’t a business model, and we have to do that, too, and we’ll see how it all plays out.”
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