One year after the shocking announcement of a framework agreement between the PGA Tour and Saudi Arabia's Public Investment Fund (PIF), golf remains in a state of uncertainty. The two parties had intended to finalize an agreement by December 31, 2023, but no deal has been reached yet.
The news of the potential partnership sent ripples through the golf world on June 6, 2023. Maverick McNealy received forty text messages about the deal that day. Veteran Kevin Streelman described the situation as chaotic following Jay Monahan's announcement at a player meeting.
The PGA Tour reported progress in negotiations with the PIF during a face-to-face meeting between their transaction committee and Yasir Al-Rumayyan, governor of the Saudi Arabian sovereign wealth fund. Negotiations have been ongoing for some time and have accelerated recently.
Despite this progress, Rory McIlroy believes that LIV Golf will continue to operate and expand in the coming years regardless of any deal with the PGA Tour. Tiger Woods was appointed to the board with no term limits, while McIlroy resigned from the board and then was put back into play as a non-voting member of a negotiating committee.
The antitrust lawsuit by PIF-funded LIV and the countersuit by the PGA Tour were done away with in the agreement. However, there is still no clarity on where golf is headed and how to repair such a splintered sport created by Saudi money and a secret deal.
The Memorial Tournament at Muirfield Village saw players like Xander Schauffele, Tiger Woods, Rory McIlroy, Webb Simpson, Patrick Cantlay, and others grapple with the uncertainty of the future. The situation remains complex as golf tries to navigate its way through this new era.