DETROIT – Peter Malnati, a resident of a Residence Inn in the Toronto Airport, was in bed at 7:36 a.m. on Tuesday, June 6. His phone rang, and he learned about the PGA Tour’s landmark agreement with the Saudi Arabian Public Investment Fund.
Malnati, 36 years old, has been on the PGA Tour’s policy board for one year. His only win was at the Sanderson Farms Championship in 2016. He and nine other members of the board met in person for about eight hours on Tuesday. Lunch was served at 12 noon. There were two 5-minute breaks, and the meeting ended around 8 pm.
The Policy Board stated in a press release that the Framework Agreement ended costly litigation. Management, with input by our Player Directors has now started a new phase in negotiations to determine whether the Tour can come to a definitive deal that is in our players’, fans’, sponsors’, partners and the game as a whole.
After a long practice session on Wednesday, Malnati spoke with Golfweek to discuss the meeting. He shed new light on what lies ahead, such as how the Tour can regain player trust. He also discussed the health of Commissioner Jay Monahan and the formation player committees that will punish LIV defectors, and reward those who remain loyal.
The conversation began with a simple but important question: Do you want to see this deal through?
Malnati stated, “I never wanted to see this deal happen.” “But, now that it’s clear that the PGA Tour is in a position that requires this deal for whatever reason, I would like to see them succeed. There are people who are very smart that tell me that the PGA Tour will be set up for long-term prosperity with this agreement. It’s a tough pill to swallow, because I never declined an offer from LIV and never received one. It’s understandable that they never showed any interest in me. I am the 250th ranked player in the entire world. Even if LIV had made me an offer that was significant, I would never have accepted it because I did not want to be associated Saudi Arabia and the PIF. I would never have accepted an offering there. People always said that everyone had a phone number. I didn’t. It was hard to accept that, without our knowledge, the decision was made to partner with PIF.
You asked, “Do I want to make this deal happen?”
“I’m now in a position where I will say ‘Yes’. I believe I understand the situation better. I really want this deal to go through. I believe it is in the long-term best interest of the PGA Tour. I don’t see it as a merger. I don’t believe we will be controlled by LIV. The Board will ensure that PIF is only a minor investor in our business. “With those safeguards, I do think that I would like to see a fair deal for the PGA Tour, and its members.”
Malnati has answered 10 more questions.
