The PGA Tour insists the merger with the Saudi sovereign wealth fund will not be affected by the “medical issue” that indefinitely sidelined commissioner Jay Monahan, a week after the shock alliance was announced.
Well wishes came from around the golf world – including here LA Country Club that on Thursday will stage the first round of the US Open – after the Tour revealed late on Tuesday that Monahan is recovering from the as yet unstated condition.
There was no further update as to the 53-year-old’s status on Wednesday, but the Tour’s executive vice president Tyler Dennis tried to calm fears that the forthcoming negotiations with the Public Investment Fund could be skewed by the absence.
“We’re full steam ahead as a business,” Dennis told the Golf Channel after it was confirmed that he and chief operating officer Ron Price will temporarily fill Monahan’s duties. “All of our priorities remain unchanged. We had a big announcement last week and nothing is changing in that regard. We’re working very hard towards the definitive agreements. There’ll be a lot of news on that subject in the coming weeks and months.”
Monahan had earlier stressed that only ‘a framework’ has been agreed with the PIF and that the brunt of the detail needs to be finalized over the coming weeks. Monahan is due to be the chief executive of the new company, which will also include the DP World Tour, and despite PIF governor Yasir Al-Rumayyan taking the role of chairperson, the PGA Tour will have the majority voting board on the newly-assembled board.
One of the main decisions will be on the future of LIV Golf, with Jimmy Dunne – the PGA Tour board member who was central to triggering the deal that shocked the game – maintaining that Monahan would have the final say. That runs contrary to what LIV players such as Dustin Johnson have claimed they have been told by Al-Rumayyan, who is also the Newcastle United chairman.
Of course, Monahan was and still is due to play a critical role in the negotiations, although Dunne and another Tour board member in Ed Herlihy were due to put most hours around a table that on the PIF side is likely to include Amanda Staveley, the Englishwoman who set up the PIF’s takeover at St James Park.
Dennis claimed that the 2024 Tour schedule will be announced in the “next few weeks”. “We’re stronger than we’ve ever been and we’re focused on the future,” he said.
It’s been a tumultuous time for Monahan after the bombshell revelation that the Tour had entered into an alliance with Saudi Arabia to create a for-profit company that will oversee the Tour’s commercial interests.
On Tuesday, world No 2 Jon Rahm said that the players who remained loyal to the Tour “felt betrayed” and at a fiery players’ meeting last week there were calls for Monahan to resign.
Furthermore, the US senate has opened an investigation into the amalgamation and on Wednesday two high-profile Democratic senators in Elizabeth Warren and Ron Wyden called on the US Justice Department’s antitrust division to inspect the controversial partnership. The Tour has stated that it is confident that the relevant authorities will be satisfied with the merger when the details are confirmed.
There was a sombre mood at the US Golf Association’s annual address to the media on Wednesday, with Mike Whan, the USGA chief executive, extending his best wishes to Monahan, who replaced Tom Finchem in the hot seat five years ago.
“I want to say to my friend and colleague, Jay – and I hope you’re watching this, Jay – that I hope you’re feeling better and just know that everybody at the USGA and everybody in the game of golf wishes you a speedy recovery,” Whan said.
Whan announced that this week’s prize fund will be £15.8 million – a record for the majors – with £2.8 million going to Sunday’s champion.
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