The vast majority of golf fans appeared to believe the PGA Tour is now firmly in Tiger Woods’ hands after he was named the vice chairman of their newly-formed company backed by private equity cash.
On 6 March, PGA Tour Enterprises officially unveiled their board of directors.
Unsurprisingly, Woods is heavily involved in the company and will serve as the vice chairman.
PGA Tour commissioner Jay Monahan will be as the company’s chief executive.
“CEO soon,” one wrote on X after seeing the news of Woods’ new position. Another added: “Tiger Woods is making moves on the PGA Tour.”
PGA Tour Enterprises was initially formed last June when the North American circuit entered into a framework agreement with Saudi Arabia’s Public Investment Fund (LIV Golf’s backers) and the DP World Tour.
Per the terms of that agreement, the commercial interests of all the tours would fall under the umbrella of PGA Tour Enterprises.
LIV’s mastermind, the powerful Saudi businessman Yasir Al-Rumayyan, was expected to be the chairman of PGA Tour Enterprises with the aforementioned Monahan answering directly to him.
But Al-Rumayyan was not referred to in the announcement.
We are led to believe talk between the PGA Tour and PIF are ongoing but whether they can be brought on as investors could prove troublesome given government scrutiny.
In January, PGA Tour Enterprises also had a $1.5bn cash injection from a consortium of American sports team owners led by Fenway Sports Group.
In addition to Woods, active PGA Tour players Patrick Cantlay, Peter Malnati, Adam Scott, Webb Simpson and Jordan Spieth were also named on the board of directors at PGA Tour Enterprises.
Former player Joe Ogilvie was named as director liaison.
Who is on the board of directors?
- Jay Monahan – chief executive
- Tiger Woods – vice chairman
SSG directors:
- John W. Henry
- Arthur M. Blank
- Andrew B. Cohen
- Sam Kennedy
Player directors
- Patrick Cantlay
- Peter Malnati
- Webb Simpson
- Adam Scott
- Jordan Spieth
Independent directors
- Ed Herlihy
- Jimmy dunne
- Mark Flaherty
- Mary Meeker
- John Lindert
