The PGA Tour is making significant changes, including hiring its first CEO, as it navigates a complex landscape with Saudi investment and competition from LIV Golf.
The PGA Tour, with Saudi-backed LIV Golf as a minority investor, is hiring its first CEO to work alongside commissioner Jay Monahan. Monahan announced the news to staff Tuesday morning as part of a year-end message looking ahead to 2025. The PGA Tour is concluding a year of major changes while still without an agreement with the Public Investment Fund of Saudi Arabia, though recent signs indicate they are closer than ever.
It remains unclear to what extent this can unite a sport where its biggest names are competing in separate leagues. A consortium of American sports business owners led by Fenway Sports Group invested $1.5 billion in a deal announced in late January, with the possibility of that investment reaching $3 billion. Atlanta Falcons owner Arthur Blank, part of SSG and a member of the new commercial PGA Tour Enterprises, will lead a search committee that includes Monahan. The PGA Tour Enterprises board includes all six players on the policy board, led by Tiger Woods, four members of SSG, Monahan and Valero CEO Joe Gorder. The 13th member is former PGA Tour player Joe Ogilvie in a liaison role. Professional golf now has four top executive openings. The LPGA is searching for a new commissioner to replace Mollie Marcoux Samaan; the PGA of America has narrowed its search for a CEO to replace Seth Waugh; and LIV Golf is expected to name Scott O'Neil as its new CEO with Greg Norman taking on a different role. The PGA Tour has already tightened player eligibility by eliminating 25 cards through the FedEx Cup, meaning only the top 100 will be guaranteed full status at the end of the year. Field sizes are also being reduced. The tour will also be launching its massive PGA Tour Studios next to its headquarters, filled with the latest technology that will allow the tour to produce its own content and “delivering our fans around the world more of what you want to see,” Monahan said
GOLF PGA TOUR LIV GOLF SAUDI ARABIA EXECUTIVE CHANGES
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