Tiger Woods joins PGA Tour board as Saudi deal talks continue

The PGA Tour connected Tuesday said Tiger Woods would articulation its argumentation board, a concession meant to springiness players much input and oversight arsenic negotiations proceed for its arguable deal with Saudi-backed LIV Golf.

Woods joins the committee little than a period aft erstwhile AT&T CEO Randall Stephenson resigned owed to concerns regarding the Saudi investment.

The determination comes arsenic contention has surrounded the circuit since it announced a projected woody that would spot it harvester with LIV Golf, which is backed by the Saudi Arabia Public Investment Fund, an entity controlled by Saudi Crown Prince Mohammed bin Salman, and Europe's DP World Tour.

Until the projected woody was announced, the PGA Tour and LIV were embroiled successful antitrust lawsuits – lobbed astatine each different – arsenic players near the circuit for large paydays astatine LIV. The lawsuits person since been squashed.

So far, lone a framework agreement has been met and PGA subordinate directors volition person to motion disconnected connected an eventual definitive agreement. The projected woody has been met with ire and confusion from lawmakers, members of the circuit and fans.

The circuit said it reached this caller statement to guarantee it "lives up to its ngo of being a player-driven organization, 'for the players, by the players.'" Woods volition beryllium the sixth subordinate manager connected the board, which besides includes 5 autarkic directors and the PGA of America director.

Other subordinate directors see Patrick Cantlay, Charley Hoffman, Peter Malnati, Rory McIlroy and Webb Simpson.

"This is simply a captious constituent for the tour, and the players volition bash their champion to marque definite that immoderate changes that are made successful circuit operations are successful the champion involvement of each circuit stakeholders, including fans, sponsors and players," Woods said successful the statement. "The players convey Commissioner Monahan for agreeing to code our concerns, and we look guardant to being astatine the array with him to marque the close decisions for the aboriginal of the crippled that we each love. He has my assurance moving guardant with these changes."

Last month, Stephenson stepped down. In a memo viewed by CNBC, the circuit said its 4 remaining autarkic directors, successful consultation with its subordinate directors and PGA director, would enactment unneurotic to capable his position.

Stephenson said successful his memo to the committee that helium had "serious concerns" astir the projected woody and whether helium could objectively measure oregon enactment it owed to the U.S. quality study assessing that the Saudi crown prince ordered the killing of writer Jamal Khashoggi successful 2018.

PGA Tour golfers person voiced vexation the projected woody was announced successful June. PGA Tour Commissioner Jay Monahan said helium had expected to beryllium called a hypocrite and accepted the criticism.

Aside from the antitrust lawsuits – and the tour's propulsion to support its players from leaving for LIV, arsenic Phil Mickelson and Bryson DeChambeau did – LIV has been surrounded by contention and disapproval since its motorboat successful 2022 since it's backed by the Saudis. Critics person accused the sovereign wealthiness money of "sportswashing" by utilizing LIV to distract from the kingdom's past of quality rights violations.

Players came unneurotic "to uphold the tour's halfway principles and inquire that definite steps beryllium taken immediately," the circuit said successful a statement, adding that Monahan agreed to enactment the players and their requests.

In summation to Woods' appointment, Monahan said the circuit volition enactment unneurotic with the players to amend the argumentation board's governing documents to marque it wide nary large determination tin beryllium made successful the aboriginal without anterior engagement and support of the subordinate directors.

The projected woody with PIF came unneurotic implicit a span of weeks, during which committee members met with Saudi officials. Players learned of the woody either close earlier oregon erstwhile it was announced.

The latest statement with the players includes that Colin Neville, the subordinate directors' peculiar advisor, volition beryllium successful the loop regarding the negotiations contemplated by the model agreement. It besides adds that subordinate directors volition person afloat transparency and the authorization to o.k. oregon diminution immoderate imaginable changes to the circuit arsenic portion of the negotiations.

So far, lone a model statement has been met betwixt PIF and the tour, which says it would make a for-profit subsidiary of the PGA Tour, and the caller entity would negociate commercialized assets for each the tours. The circuit would negociate competitions, and has said it is starring the negotiations scope a finalized deal.

Tour representatives person defended and testified astir the woody to a Senate subcommittee, saying they judge the PGA Tour would payment from the projected deal. Policy committee autarkic manager Jimmy Dunne said during his grounds that if the woody is completed, the circuit would "definitely enactment intact and becomes much powerful."

Documents obtained by lawmakers showed that a projected thought would person seen Woods and McIlroy ain LIV play teams and enactment successful astatine slightest 10 league events.

McIlroy has been 1 of the astir outspoken critics of LIV, arsenic good arsenic the deal. He expressed agitation that the projected woody was being referred to arsenic a merger.