Monahan confident in his job, hopeful PGA Tour can strike a deal with Saudis

PONTE VEDRA BEACH, Fla. – PGA Tour Commissioner Jay Monahan was short on details but overflowing with confidence Tuesday about the future of the PGA Tour, repairing the fractured landscape of golf and his ability to lead the way.

“I am the right person to lead us forward. I know that,” Monahan said at The Players Championship. “I believe that in my heart, and I’m determined to do exactly that.”

Where it leads remains a mystery. Monahan said at the onset of his news conference – his first in nearly seven months – that while negotiations with the Saudi backers of LIV Golf are “accelerating,” they had to remain private.

“While we have several key issues that we still need to work through, we have a shared vision to quiet the noise and unlock golf’s worldwide potential,” he said. What he offered was hope for a successful outcome with the Public Investment Fund of Saudi Arabia, which announced an agreement on June 6 to partner with the PGA Tour in a commercial investment venture eventually called PGA Tour Enterprises.

Now the only minority investor is Strategic Sports Group, a consortium of U.S. sports owner that agreed in January to pump up to $3 billion into golf. The initial investment of $1.5 billion includes a player-equity program to compensate players and give them ownership.

Monahan said SSG joined him on a January trip to Saudi Arabia to meet with with PIF leader Yasir Al-rumayyan. PIF is funding LIV Golf, which lured away Masters champion Jon Rahm in December to join a roster that includes major champions Brooks Koepka, Dustin Johnson, Cameron Smith and Bryson Dechambeau.

“I do believe that negotiating a deal with PIF is the best outcome,” Monahan said. “Obviously it has to be the right deal for both sides, like any situation or negotiation.” Among the sticking points, which Monahan declined to discuss, is how to bring the players back together when so many of them defected from the PGA Tour to sign lucrative signing bonuses with a league that offers $20 million purses with no cut over 54 holes.

Most players believe LIV players should not be allowed back without some penalty. Rory Mcilroy said last month there should be no punishment.

“However we end up, I think that we’re not going to be able to satisfy everyone, and that goes for both sides,” Monahan said. “But what we’re trying to do is to get to the best possible outcome again for the tour and for the game, and I do think that that’s achievable.”