In an open message to PGA Tour commissioner Jay Monahan and the PGA Tour Board, World Golf Hall of Famer Tom Watson complained that the communication of the partnership between the Tour, and the Saudi Public Investment Fund, was handled poorly. He also asked if the players had any other options.
The note was sent Monday and wished Monahan all the best as he dealt with a recent health issue. It also acknowledged that it has been difficult for him to do his job as LIV Golf has made advances. Watson, who has won five U.S. Watson, who won five U.S.
After recent events, I can also relate to the accusations of hypocrisy. Jay is also smart, because he’s a man of intelligence. I believe that the Tour’s communication was mishandled, and the process used to agree on a partnership with PIF without following due process. What are our options as a group representing the Tour’s face and brands?
Watson said that although the RBC Canadian Open meeting allowed for a brief forum on the deal many questions remain unanswered. He hopes to have a more robust conversation this week when the Tour travels to TPC in Cromwell for the Travelers Championship.
It will take a lot more explaining from the Commissioner and PGA Tour Board (on which five Tour players are seated) to convince our members to accept this partnership. Tour stakeholders, including the Players, global media, tournament sponsors, and independent Tour partners need to be informed of the benefits.
Monahan informed PGA Tour employees that the current model was not sustainable. PIF assets are reported to be $620 billion. The Toronto meeting came just two days after an agreement was announced to create a for-profit company.
Monahan told employees that the Tour spent $50 million on legal fees, and $100 million from its reserves to pay for increased purses at designated events and bonuses.
The Tour’s management will hopefully address these questions with the players at this week’s Traveler’s Tour. What does the Tour gain by accepting this partnership? What are we getting? What are we giving up? Why was the deal made in secrecy, and why didn’t one of the Tour Policy Board members get involved? This is a serious matter that deserves a thorough vetting from a group of stakeholders, including those who define the PGA Tour’s public image and emotional attachment.
A letter sent by Tom Watson this morning to @PGATOUR regarding the recent PIF agreement. @5ClubsGolf pic.twitter.com/AGglnJDk50
Gary Williams (@Garywilliams1Up 19 June 2023
Watson, who won the PGA Tour Player award six times in a career that spanned 39 PGA Tour tournaments, said the partnership with Saudi Arabia’s PIF was difficult to accept for many.
The hypocrisy of Tour leadership in ignoring the moral issue is what compounds these questions. This position was publically highlighted for many years. It is understood that all players would like to earn more money. However, the fact that some players do not seek money at any cost has been demonstrated. The few players who have remained loyal to the Tour, for whatever reason (personal or moral), are not alone. The Tour has rumors that it will offer financial compensation to players who refused offers from LIV but remained loyal to the Tour. This is a small part of the context. What plans, if any, do you have to reinstate Tour Players who left and want to return to PGA Tour?
Watson concluded by saying that he hoped more answers and transparency would be forthcoming in the near future.
I still have a few questions. Is the PIF a viable solution to the Tour’s financial issues? Was/is a Plan B in place? What is the exact exchange? We deserve and need full disclosure of the financial status of the PGA Tour, and of the proposed partnership.
Over the course of my life, I have always felt a strong loyalty to both golf and this nation. Please educate me, and others so that we can be loyal to both. We should also make it easier to look at 9/11 families and ourselves when looking in the mirror.
The PGA Tour has allowed me to live a wonderful life. I am grateful for my country and its many opportunities.
