Monahan: Meeting with PIF head ‘constructive’

PALM HARBOR, Fla. — The PGA Tour took a first step in sparking negotiations with Saudi Arabia’s national wealth fund with a meeting in the Bahamas that Commissioner Jay Monahan described as “constructive” without offering many more details.

In a memo late Monday night to players, Monahan said the player directors on the PGA Tour Enterprises board met with Yasir Al-Rumayyan, governor of the Public Investment Fund that provides the money behind rival LIV Golf.

It was the first time player directors, including Tiger Woods, met with Al-Rumayyan. Woods played nine holes with him at Albany Golf Club, according to a person informed of the meeting who spoke to The Associated Press on condition of anonymity because of the private nature of the day.

The other player directors are Patrick Cantlay, Adam Scott, Jordan Spieth, Webb Simpson and Peter Malnati. Golfweek first reported the meeting was likely to take place Monday in Ponte Vedra Beach. It shifted to the Bahamas, where Woods often keeps his yacht.

“The conversation throughout was constructive and represents an important part of our due diligence process in selecting potential investors for PGA Tour Enterprises,” Monahan said in the memo. “This mirrors the approach we employed earlier this year as we evaluated an investment offer from the Strategic Sports Group.”

The PGA Tour, European tour and PIF reached an agreement announced June 6 to form a commercial partnership. The deal was to be finalized by the end of 2023. But amid government inquiries, and interest from private equity groups, the deal wasn’t done.