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7 Things We Learned from Leaked PGA Tour-Saudi PIF Agreement

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PGA Tour holds marathon 5-hour player meeting over PIF-Saudi deal. It’s hard to top the shock value of the merger itself, but here are 7 other MOST astonishing revelations from the deal. Honestly, it’s still quite unclear how, or even IF it will all go down. As of right now…Here’s what we know.

Twenty days after the shocking announcement of a “framework agreement” between the PGA Tour and the Saudi Arabian Public Investment Fund, confidential copies of the deal became public Monday night. The document, which was first reported on by The Athletic and No Laying Up and also obtained by GOLF.com, was sent to Congress Monday evening, ahead of the July 11 Senate hearing on the proposed partnership. 

According to the five-page accord, which was signed May 30, the proposed company — temporarily named NewCo — “will be the entity for professional golf,” but for the time being the PGA Tour, DP World Tour and LIV Golf will coexist. The PGA Tour will maintain its powerful position atop the men’s professional golf world, its costly litigation now nullified while forging an uncertain future that could see Tour members and LIV golfers regularly competing in the same tournaments.

Importantly, this is all part of an initial agreement, only parts of which are legally binding. “Definitive Agreements” are cited throughout the deal that these once-warring sides hope to ratify. The document has been shared with Congress because the entire proposal is under investigation by both the U.S. Senate and the Department of Justice. A hearing is scheduled for July 11, which the PGA Tour has said it plans to attend. LIV Golf declined to comment when asked if it would be in attendance, and the PIF did not respond to an inquiry about its intentions.

LIV Golf and the PGA Tour were embroiled in multiple lawsuits throughout 2022 and early ’23, one of them focused on alleged anticompetitive practices of the PGA Tour. For a major market shareholder to suddenly merge its business interests with its primary competitor(s) is a move we’ve seen in other pro sports, but that still garners close attention from U.S. lawmakers. This proposed partnership, because it involves the DP World Tour, is also likely to face investigation from European regulators.

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Key Details: 

1. One through-line of the document, as previously reported by GOLF.com, are clauses that ensure power for the PGA Tour. The PIF is making an investment and bringing its golf assets to the table — one of which is LIV — but the PGA Tour will maintain voting control of the NewCo board. Additional investment from the PIF — and/or actions under its right of refusal on new capital raised — will not increase its presence beyond a non-controlling voting interest.

2. LIV Golf’s future, as well as that of team golf, is unclear. It’s not dead, but it’s certainly not guaranteed to survive, either. When PGA Tour commissioner Jay Monahan repeatedly mentioned an “empirical evaluation” would take place on the prospects of LIV Golf, he was simply quoting the agreement:

“NewCo will be provided access to all information requested to facilitate this evaluation and assessment … so that the NewCo Board, with the recommendation of its [CEO] Jay Monahan, will determine the ongoing plan and strategy regarding all NewCo operations…”

In other words, Monahan will hold many cards. Jimmy Dunne and Ed Herlihy — both proposed members of the NewCo executive committee — would also possess much influence. Will they want LIV Golf to exist as it currently does? Monahan said himself that is unlikely. Could the league be repackaged as the PGA Tour’s own version of team golf? That’s plausible. The agreement states that the parties “will make a good faith assessment of the benefits of team golf…and determine how best to integrate team golf into PGA Tour and DP World Tour events going forward.” 

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Tom Watson Jay Monahan
Tom Watson blasts PGA Tour-Saudi PIF merger in an open letter

3. Players who left for LIV Golf would be allowed to return but with specific qualifiers. For starters, no players will be allowed back before the 2023 season plays out. (Also, for the time being, no players will be recruited to play for LIV teams.) More important, the PIF, PGA Tour, and DP World Tour will be setting “fair criteria and terms of readmission consistent with each Tour’s disciplinary policies.” That likely means that different players who left at different times and in different ways — i.e. departed mostly silently or went so far as to recruit other players — will be dealt different terms for reinstatement. Phil Mickelson, for example, was one of the first players officially suspended by the PGA Tour, in March 2022, when he worked to recruit players to join LIV, according to court documents. 

4. The words “good faith” are used throughout the agreement, but perhaps most important in regards to the Official World Golf Ranking: “The parties will cooperate in good faith and use best efforts to secure OWGR recognition for LIV events and players under OWGR’s criteria for considering LIV’s application.” LIV events have not received world ranking points since its inception, which has caused the world ranking for each of its commitments to fall as a result, and caused great consternation among the upstart league’s strongest supporters. The only player whose ranking has risen since joining LIV was Brooks Koepka, who played well in major championships in 2023. The agreement seems to state that LIV events could earn ranking points in the future, but no details have been finalized beyond that.

5. Pending approval and the various investigations, the PIF would become a corporate partner of the PGA Tour and DP World Tour, wherein the three sides would “identify a high profile event for which the PIF or its designee(s) will make a financial investment to serve as title sponsor.” 

The PIF is already a title sponsor of Saudi International, which is now in its fifth year. The event was initially sanctioned by the DP World Tour but in recent years was rebranded “PIF Saudi International powered by Softbank Investment Advisors” and on the Asian Tour schedule. The agreement seems to make it not just possible but likely that we could see a PIF-sponsored event on the PGA Tour schedule.

6. The PGA Tour Policy Board will have a PIF-appointed member. We already knew this was coming — PIF governor Yasir Al-Rumayyan is set to join the board, as part of the initial announcement — but the wording in the agreement portends that perhaps another PIF executive could take Al-Rumayyan’s place. The deal nonetheless creates an 11th seat on the board, which currently includes five PGA Tour players and five independent directors. The board has never once blocked a decision that was unanimously approved by its player directors, but it is unclear if Al-Rumayyan’s inclusion would trigger adding a sixth player director for balance. 

7. There’s still much to be decided. That’s the understatement of the century, however, a stipulation of the document states that the contents of it will remain until (a) the Definitive Agreements are signed, (b) an extension is agreed to, or (c) Jan. 1, 2024, arrives.

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HERE IS THE BOTTOM LINE – If neither A nor B above takes place, the agreement between the PGA Tour and PIF will be terminated.

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“It Was A Great Day Until It Wasn’t”

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We all remember the images of Rory McIlroy, head bowed in the scoring area at Pinehurst, as Bryson DeChambeau putted out to win the US Open immediately followed by he and his caddie Harry Diamond trunk slamming on the way out of town. McIlroy refused to speak to the press about his two missed short putts on both 16 and 18. Until today.

Speaking at his press conference at the Genesis Scottish Open Rory finally answered the questions that every reporter wanted to ask following the meltdown at Pinehurst. He also address the criticisms that both Hank Haney and Smylie Kaufmann raised last week about Rory’s choice of caddy.

4th Round at Pinehurst

With respect to the final round at the US Open McIlroy was very candid. “[I]t was a great day until it wasn’t. I did things on that Sunday that I haven’t been able to do the last couple of years. Took control of the golf tournament. Holed putts when I needed to… mostly when I needed to (with a slight laugh).” “It was a tough day. A tough few days after that.” “I look back on that day…I’ll learn a lot from it and I’ll hopefully put that to good use. It’s something that’s been a bit of a theme throughout my career and I’ve been able to take those tough moments and turn them into great things not very long after that.”

Haney, Kaufman Criticize Harry Diamond

Hank Haney, once the coach of Tiger Woods, and Smylie Kaufman, a former tour pro and now commentator, both publicly questioned Rory’s choice of caddy following Pinehurst. Haney questioned McIlroy using his friend Harry Diamond rather than a more professional looper like veteran Steve Williams. Kaufman was quoted as saying, “I felt like Harry Diamond really should have stepped in on the 15th hole.” “I don’t really ever see Harry stepping in a ton. Rory always, if he has a question, he’ll ask, but for the most part, Rory kind of goes and does his thing…”

Rory didn’t mince words defending Diamond during his interview. “You know, it’s certainly unfair. Hank Haney has never been in that position. Smylie has been in that position once…I just wish that you know, these guys that criticize when things don’t go my way, they never say anything good when things do go my way. So where were they when I won Dubai earlier this year or Quail Hollow or the two FedEx Cups that I’ve won with Harry or the two Ryder Cups or whatever? They are never there to say Harry did such a great job when I win…”

Rory seems motivated. He might lap the Scottish Open field this week.

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Two to Watch at the Rocket Mortgage

15 Year Old Miles Russell and Golf Galaxy Employee Nick Bienz Make PGA Tour Debuts

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This week the PGA Tour heads to Detroit Golf Club for the Rocket Mortgage Classic, the first event in a month that is neither a Major nor a Signature Event. Defending Champion Rickie Fowler leads a field that features Tom Kim, runner up in a playoff at the Travelers, playing for the ninth consecutive week. Other top players teeing it up include Akshay Bhatia, Cam Young and Australian Olympian Min Woo Lee.

Two competitors to watch this week are two who are making their first swings in a PGA Tour event. One is making his first appearance above the state championship level. 15 year old Miles Russell became the youngest competitor to make the cut on the Korn Ferry Tour earlier this season. Golf Galaxy employee Nick Bienz made it through Monday qualifying to earn his way into the 156 player field.

Miles Russell – Sponsor’s Exemption

Most golf fans had never heard of Miles Russell until April when he became the youngest player to make the cut in a Korn Ferry Tour event, finishing T-20 at the LECOM Suncoast Classic. The AJGA Player of the Year and winner of the Junior PGA Championship and Junior PLAYERS will make his PGA Tour debut this week on a sponsor’s exemption. People are already comparing the 135 pound Russell to Tiger Woods. In today’s day and age it is not surprising that he already has NIL deals with both Taylor Made and Nike.

Nick Bienz – Monday Qualifier with a Buzz

Nick Bienz arrived at Monday qualifying for the Rocket Mortgage with nothing more than his clubs and the clothes he was wearing. Bienz had never played in an event above the state open level and his job at Golf Galaxy allows him to maintain his professional status. Thanks to a story broken by Ryan Francis, (Monday Q Info on X @acaseofthegolf1), Nick will be the golfer to root for this week.

Bienz teed off early on Monday and surprised himself by shooting a 65. Nervous to see if he actually was going to live his dream and play in a PGA Tour event, he had a beer as he watched the scores come in. Then a second. And a third. His 65 didn’t quite get him into the field. The 65 got him into a 5 for 4 playoff. According to Monday Q Info, the fans were drunk and boisterous as they watched the 8 holes needed to finalize the field. Nick had a few in him as the playoff commenced. When it ended he had played his way into his first PGA Tour start.

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Scheffler Wins 6th Title of Year at Travelers

Ending Marred by Environmental Protestors

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Scottie Scheffler continued his white hot 2024 season on Sunday winning the Travelers Championship, the final Signature Event of the 2024 PGA Tour Season. The title, his sixth of the season, makes him the fourth to win 6x on Tour in the last 40 years joining Tiger Woods (6x), Vijay Singh and Nick Price. He is the first golfer to win 6x on the Tour prior to July 1st since Arnold Palmer accomplished the feat in 1962.

Scheffler’s win concluded a dramatic week that saw Cameron Young on Saturday become the 13th player in PGA Tour history to shoot a 59 in competition in a round where he eagled 2 par 4’s. Young started his final round making birdie on his first four holes. Tom Hoge made 8 birdies on Sunday to finish solo 3rd. At one point on the back nine 5 golfers were tied for the lead. Rounds 2 and 3 saw lengthy weather delays with 3 spectators injured by lightning on Saturday. Tom Kim, who turned 22 on Friday, led the field at the end of each of the first three rounds and found himself on the 18th green one stroke behind Scheffler needing a birdie to force a playoff.

Protestors Delay the 72nd Hole

Things turned chaotic on the 18th green as Scheffler, Kim and Ashkay Bhatia were lining up their putts. Six members of a radical environmental group, Extinction Rebellion NYC, stormed the course from various directions. The protestors ran thru a bunker and onto the green throwing paint onto the green surface. Officers of the Cromwell Police Department quickly tackled and subdued each of the intruders.

While it is difficult to know what was going through Scheffler’s head as he saw all the police running onto the course in his general direction, Bhatia was very specific about his reaction. “I was scared for my life. I didn’t even really know what was happening. I was in shock and my heart rate was high. It got low and then once that kind of happened I was just freaked out, I just tried [to] get over where everyone was.”

As a result of the paint on the green, Bhatia with the assistance of a Rules Official had to relocate his mark to an area where the paint was not in his line of play. A birdie would have made him solo 4th. He two putted to finish T-5.

Scheffler putting from the right fringe missed his birdie opportunity, tapped in for par and awaited Kim’s birdie try. Kim rolled his uphill 9 footer and confidently walked it into the cup for a tying birdie.

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Due to the damage caused by the environmental extremists, the Tournament Committee decided to move the hole location to the front right of the green, just over a bunker. In an almost anti-climactic finish, on the 73 hole Scottie reached the green in two while Kim came up short finding himself with a buried lie in the bunker. His bunker shot ended well past the hole and he wasn’t able to complete the up and down for par. Scheffler easily 2 putted to take home his sixth trophy this year.

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