McIlroy on PGA subcommittee formed to hold direct talks with PIF regarding merger
On Thursday, Rory McIlroy revealed details about a new PGA Tour subcommittee formed to hold direct talks with Saudi Arabia's Public Investment Fund (PIF) about a merger.
Tiger Woods, Adam Scott, and McIlroy will serve on a seven-person PGA Tour Policy Board transaction subcommittee, which will sit across the table from the financial backers of rival series LIV Golf and negotiate terms to bring the tours together.
A framework agreement released in June has yet to be finalised, as the board must approve such a move, and talks have lasted far longer than the initial deadline of last December.
"There's a window of opportunity here," McIlroy said. "I think that window closes ever so slightly every day that passes by, so I would say time is of the essence, absolutely."
Other members of the subcommittee would include PGA Tour commissioner Jay Monahan and Fenway Sports Group CEO John Henry, who led an investment group of US sports team owners that formed the $1.5 billion for-profit entity PGA Tour Enterprises.
McIlroy stated that, while he will not return to the tour policy board, he was brought into the subcommittee to provide knowledge and perspective.
"A different perspective, maybe more of an international perspective," he said. "My insight is more the position of where the global game is and where it could go."
McIlroy also has contacts on both sides of the table, including PIF Governor Yasir al-Rumayyan.
"I feel like I've got good relationships on both sides there and hopefully I can bring something to the table, try to provide some insight and value and see if we can get this thing done," McIlroy said.
Woods, a 15-time major winner, was reportedly at odds with McIlroy on the sport's future direction. McIlroy stated that their relationship is not strained, despite the fact that they do not fully agree on a path forward.
"Friends can have disagreements or not see eye to eye on things. I think that's fine," McIlroy said. "We had a really good talk last Friday for 45 minutes just about a lot of different things. No, there's no strain there."
"I think we might see the future of golf a little bit differently, but I don't think that should place any strain on a relationship or on a friendship."
According to McIlroy, the subcommittee has already met to plan the next steps in the negotiations.
"I've already had calls with that group. I had a really good hour and a half Zoom with those guys on Sunday. We went through a 150-page doc about the future product model and everything," McIlroy said.
"Yeah, I'm not on the board, but I'm in some way involved in that transaction committee. I don't have a vote so I don't have, I guess, a meaningful say in what happens in the future, but I feel like I can be helpful on that committee, and that was sort of a compromise for not getting a board seat."
McIlroy stated that the main issue with him returning to the board in place of Webb Simpson, who was leaving but is now staying, was improper procedure, not his viewpoints.
When discussing potential PGA-LIV deal stumbling blocks on Wednesday, McIlroy mentioned American players' reluctance to travel more globally for tournaments compared to mostly US-based events now, as well as what punishment might be required for those who jumped from the PGA Tour to LIV for lucrative deals while others declined and remained loyal to the established circuit.
SportsLigue