Ron Price, the PGA Tour’s Chief Operating Officer and interim leader during the absence of Commissioner Jay Monahan, wrote an op ed for The Athletic, which previews Tuesday’s hearing at Capitol Hill. He argues that the framework agreement will be the best option moving forward.
Price started by praising the Tour and its mission, while highlighting the charitable impact. He then delved into the turbulent two years that have passed since LIV Golf entered the fray thanks to the financial support from the PIF. The deal was shocking to both players and fans.
, who wrote the, said: “Given that the PGA Tour has been involved in a series of legal disputes with the PIF for many years, we are able to understand the legitimate questions asked by PGA Tour Members, Tour Partners, Media, Fans, and Congress.” We are dedicated to answering these questions, as we have now moved past the destructive litigation that was resolved by the framework agreement and are exploring whether or not we can reach an agreement definitively.
The Tour did not have an answer to these questions when PIF Governor Yasir al-Rumayyan appeared with Monahan in CNBC on 6 June to share the news , despite the fact that the framework agreement had been signed a week earlier. Details are scarce a month after the agreement was signed. Price blamed negative reactions on “misinformation” or “misunderstanding”, and claimed that the Tour was responsible for the botched announcement. Price also reaffirmed the conclusion of the deal several times.
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“Fundamentally there are two reasons why the framework agreement between the PIF, DP World Tour and the PGA Tour is not only a highly positive outcome for the PGA Tour but also the best way forward for professional golf in general. The agreement includes clear, explicit, and permanent safeguards to ensure that the PGA Tour is in control of the decisions that will shape our future and we have full control over our strategy, operations, and mission. If we reach a final deal, we will be able to invest more in the players that define our sport and the events and venues, communities, and technology which bring it to life. We are the stewards for the long-term leadership and health of the organization, working in partnership with members and the Policy Board. The framework agreement was a clear “yes”, when weighed against the threat of an unsustainable, ongoing battle that would threaten our existence.
Price confirmed that the PIF will be a minority, non-controlling investor in the new entity currently known as PGA Tour Enterprises. This is despite initial reports that PIF was the sole investor. Price also said that the new board would be led by a PGA Tour majority and that the entity would be run by Monahan who will be the CEO.
Price never mentioned Al Rumayyan, or that he was going to be the chairman.
Since two years ago, the question was, “Who would lead professional golf to progress?” This work towards a definitive deal has now made it clear that the PGA Tour is in charge of professional golf. Price wrote. This agreement has made the future of the PGA Tour much brighter. The PGA Tour has a unique opportunity to improve player rewards, increase our audience and grow our game. We have many ideas to help us reach these goals. This agreement will increase the excitement and reward of playing professional golf.
Time will tell.
