PGA TOUR updates players on negotiations with SSG, PIF, DP World Tour

PGA TOUR Negotiations Update

The PGA TOUR has recently provided its players with an update on the ongoing negotiations with Strategic Sports Group (SSG), the Public Investment Fund (PIF), and the DP World Tour. In a memo from PGA TOUR Commissioner Jay Monahan, three primary points were covered.

Firstly, Monahan mentioned that progress has been made in negotiations with SSG, and efforts are being made towards finalizing the terms and drafting necessary documents. This indicates positive developments in the discussions.

Secondly, the deadline for the Framework Agreement with the PIF and DP World Tour is approaching, but there is an effort to extend the deadline into the new year based on the progress made so far. Monahan praised the active and productive discussions regarding this partnership.

Lastly, the PGA TOUR's goal remains to bring SSG, PIF, and the DP World Tour on board as minority co-investors in PGA Tour Enterprises by 2024. This partnership aims to benefit the players, fans, and sponsors by allowing for unification, innovation, and investment in the game.

Preparations for The Sentry

As negotiations continue, several players have already arrived at Kapalua in Maui, Hawaii, for The Sentry event. This event will mark the beginning of the 2024 PGA TOUR season, with FedExCup champion Viktor Hovland and world No. 1 Scottie Scheffler among the headliners. The tournament also signifies the return of the TOUR to a calendar-year schedule.

The negotiations with the PIF began in June with the announcement of the Framework Agreement and have since attracted interest from various other investors. In early December, the Board agreed to further negotiate with SSG, a consortium of U.S.-based professional sports team investors led by Fenway Sports Group. These developments highlight the growing potential for partnerships in the PGA TOUR.