McIlroy on PGA subcommittee set for direct PIF merger talks

 

 

Rory McIlroy revealed details on Thursday about a new PGA Tour subcommittee created to conduct direct talks with Saudi Arabia’s Public Investment Fund (PIF) about finalizing a merger deal.

Players Tiger Woods, Adam Scott and McIlroy will be on a seven-person PGA Tour Policy Board transaction subcommittee created to sit across the table from the financial backers of rival series LIV Golf and hammer out terms to unite the tours.

A framework agreement released last June has not been finalized, the board needing to approve such a move, and talks have stretched well beyond the initial deadline of last December.

“There’s a window of opportunity here,” McIlroy said. “I think that window closes ever so slightly every day that passes by, so I would say time is of the essence, absolutely.”

Others on the subcommittee would include PGA Tour commissioner Jay Monahan and Fenway Sports Group boss John Henry, who led an investment group of US sports team owners that created a $1.5 billion for-profit entity PGA Tour Enterprises.

McIlroy said that while he is not returning to the tour policy board, he was brought into the subcommittee to provide knowledge and perspective.

“A different perspective, maybe more of an international perspective,” he said. “My insight is more the position of where the global game is and where it could go.”

McIlroy also has relationships on both sides of the table, including with PIF governor Yasir al-Rumayyan.

“I feel like I’ve got good relationships on both sides there and hopefully I can bring something to the table, try to provide some insight and value and see if we can get this thing done,” McIlroy said.

Woods, a 15-time major winner, was among those said to disagree with McIlroy about the future direction of the sport. McIlroy said that there is no strain on their relationship even though they don’t totally agree on a path forward.

“Friends can have disagreements or not see eye to eye on things. I think that’s fine,” McIlroy said. “We had a really good talk last Friday for 45 minutes just about a lot of different things. No, there’s no strain there.

“I think we might see the future of golf a little bit differently, but I don’t think that should place any strain on a relationship or on a friendship.”

McIlroy said the subcommittee has already had meetings to plan the way forward in negotiations.

“I’ve already had calls with that group. I had a really good hour and a half Zoom with those guys on Sunday. We went through a 150 page doc about the future product model and everything,” McIlroy said.

“Yeah, I’m not on the board, but I’m in some way involved in that transaction committee. I don’t have a vote so I don’t have, I guess, a meaningful say in what happens in the future, but I feel like I can be helpful on that committee, and that was sort of a compromise for not getting a board seat.”

McIlroy said the big issue about him returning to the board in place of Webb Simpson, who was leaving but now is staying, was regarding improper process, not his viewpoints.

When noting PGA-LIV potential deal stumbling points on Wednesday, McIlroy cited American players possibly not wanting to have greater worldwide travel for tournaments compared to mostly US-based events now and what punishment might be required for those who jumped from the PGA Tour to LIV for rich deals while others declined them and stayed loyal to the established circuit.

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AFP

(NAMPA / AFP)