2024 was supposed to be the beginning of a new era in professional golf after a year’s uncertainty. This followed the shocking announcement made last June by the DP World Tour, PGA Tour and Saudi Arabia Public Investment Fund – the financial backer for the rival LIV Golf – that they had agreed to combine their commercial assets into a new, profit-making golf entity.
Over the past six months, golf fans have realized that the framework agreement is nothing more than a way to settle litigation. It’s also a poor way to announce the plans to create a new company, PGA Tour Enterprises to reunite professional game.
The deadline for reaching an agreement was Dec. 31, but on Sunday, PGA Tour Commissioner Jay Monahan sent a message to players stating that “active and fruitful” negotiations with the PIF would continue until 2024 based on progress made so far. Monahan claimed that the Tour had “made meaningful progress” in its negotiations with the Strategic Sports Group, an investment group led by Fenway Sports Group.
What now? Golf fans still wonder about the future of golf as the PGA Tour resumes action this week. New Year’s Day update left golf fans with many unanswered and urgent questions. Let’s don our speculation hats until then and see what impact an extension of the deadline could have on the professional game.
