Negotiations begin with the agenda of one man, regardless of how adamant he may be to see it as his destination. In the coming months, we will be reminded of this reality as professional golf’s reshaping process stumbles towards an increasingly messy and contentious conclusion.
In the past two years we have seen skirmishes referred to as decisive wins. Tiger Woods, Rory McIlroy and Dustin Johnson’s decisions to stay on the PGA Tour and join LIV are no more definitive than theirs. Jon Rahm’s jump to LIV, which has been the subject of intense speculation, will not be any different. It would be a significant event, and not just a case of what can happen to someone of repute who is in the orbit of Phil Mickelson or Sergio Garcia.
The timing of a Rahm departure will have a greater impact, as it will hasten the reckoning on the competing agendas which have paralyzed PGA Tour Policy Board.
There is a group of players who are opposed to the Saudi Arabian Public Investment Fund being involved in the future of Tour. They prefer to partner with any of several private investors interested. They have many reasons for not wanting to sign the Framework Agreement, including patriotism or a desire to continue LIV as leverage. Jay Monahan is insistent that the Saudis are included. This may be because he doesn’t want a rival who spends freely to approach apostates and only promises loyalty until the offer grows large enough.
Yasir al-Rumayyan is set to meet Monahan in the coming week. This will make any attempt by PIF Governor Yasir al-Rumayyan to poach Rahm a clever leverage move. This would serve as a reminder to the resistant director of player associations about the harm he can do, guarantee PIF’s participation in the Tour, and possibly secure more favorable terms than were expected. Al-Rumayyan may not have to pay Rahm for Year 2 if a peace agreement is reached. What if the peace deal is not consummated? He bought the Masters champion, and world No. As a plaything of high profile for his league, he bought the Masters champion and world No.
Monahan would be finished, according to one school of thought. It would reinforce the perception that he was being outmanoeuvred. He could also be strengthened if reluctant players accept his detente proposal. A number of player directors may also become enraged at PIF for being an untrustworthy business partner, and this could completely undermine the Framework Agreement. This too has ramifications. Are the private equity investors who were interested in the Tour, but thought they would be doing business with Saudi Arabia, willing to fight them?
There are many options to choose from, and each has its own dangers.
There are murmurs below the penthouse of professional golf. Tour members circulated a petition this weekend demanding that the leadership meet to discuss grievances regarding how they are too focused on stars and at the expense the ensemble. The rank-and-file will support this pitching wedge uprising, as valid criticisms have been levelled. However, the Tour will no longer govern the elite based on the concerns of proletariat. It is now more than ever an organization led by its members. Just not these members.
In this mess, the fundamental problem is that players expect to be paid for value they haven’t created yet or value they will not contribute to creating. This is an opportunity for many to further their own agendas. A player with guaranteed access to majors wants to cash in without regard to past proclamations and loyalty. Or players who are looking to take advantage of the Tour to get as much money as they can during their period of relevance in the competitive world, without regard for the future. Or journeymen, who are unable to reach the riches they desire and want a piece of it, despite their relative insignificance. Chris Stroud’s cretinous complaint is a prime example. “The Tour never tried to give something back to the players,” said the former winner of an opposite-field event, who has more than $13 millions in rewards for his mediocrity. The sight of it is enough to make anyone run for the nearest barkeep.
Everywhere you look, greed and entitlement is rampant. This could lead to a model which is not sustainable, as the focus seems to be on the current generation of stars and only a passing nod towards what future generations may inherit. There is a tendency to think short-term, whether it’s in the form of panicked reactions or individual agendas. The conversations among members are becoming tense. It’s no surprise that McIlroy decided to leave the board and pack his briefcase.
Al-Rumayyan, LIV and the PGA Tour have a limited amount of time in which to be successful at golf. This is why Rahm’s appeal is almost a necessity. The PGA Tour will not disappear, so its focus should be on improving the product, for all those who are deeply invested, including the forgotten fans. Charlie Munger was a famous investment partner of Warren Buffett who passed away last week. The board should take his wisdom into consideration. He said that the world was full of foolhardy gamblers, and they would not fare as well as patient investors.
