Tiger Woods to serve as vice chairman of PGA Tour Enterprises
Tiger Woods was named vice chairman of the 13-member board of directors for PGA Tour Enterprises, a newly formed for-profit entity.
The board will oversee all commercial activities related to the PGA Tour, with a focus on increasing fan engagement and growth, as well as developing new media, sponsorship, and commercial opportunities.
All six PGA Tour Policy Board Player Directors will serve on the Enterprises board at the same time, alongside 15-time major champion Woods, Patrick Cantlay, Peter Malnati, Adam Scott, Webb Simpson, and Jordan Spieth.
Former PGA Tour player Joe Ogilvie was appointed to the board after the Player Directors recognized the value of having a "Director Liaison" on both boards, given the significant time commitment required of the players to serve on both boards.
"We are excited to continue to build the PGA Tour as the highest level of competition in professional golf," the Player Directors and Liaison Director said in a joint statement.
"It's an opportunity for us to shape something special that will not only create more value for the PGA TOUR, but will also benefit and grow our fanbase. We're ready to get started."
PGA Tour Commissioner Jay Monahan and Joe Gorder, an Independent Director on the PGA Tour Policy Board, will complete the U.S.-based circuit's representation on the Enterprises Board, with Monahan as CEO.
The other board members will be from Strategic Sports Group, a consortium of US sports team owners who completed a $3 billion deal in January to become equity owners in PGA Tour Enterprises.
The four SSG Directors are: John Henry, principal owner of Fenway Sports Group; Arthur Blank, owner of the NFL's Atlanta Falcons; Andrew Cohen, vice chairman of MLB's New York Mets; and Sam Kennedy, a Fenway Sports Group partner.
The PGA Tour Enterprises Board will elect a chairman at its next meeting.
Monahan referred to the board members' announcement as a "milestone," claiming that the group possesses the necessary expertise and balance to lead the organization forward.
"Our current and former players will provide essential insight into our members' priorities and needs," said Monahan.
"And we welcome key SSG members to the leadership team, whose exceptional track records and achievements in global professional sports will lend a wealth of knowledge into the opportunities ahead for the PGA Tour."
Last June, the PGA Tour, Saudi Arabia's Public Investment Fund, and Europe's DP World Tour announced a framework agreement to consolidate their commercial operations into a for-profit entity called PGA Tour Enterprises.
As talks with the PIF dragged on, outside investor interest in the PGA Tour increased via SSG.
The consortium will invest an initial $1.5 billion with a strategic focus on increasing revenue generation for the benefit of players and identifying opportunities to improve the game of golf around the world.
SportsLigue