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PGA TOUR updates players on negotiations with SSG, PIF, DP World Tour

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(Ben Jared/PGA TOUR)

(Ben Jared/PGA TOUR)

    Written by Staff @PGATOUR

    The PGA TOUR provided its players with an update on negotiations with Strategic Sports Group (SSG), the Public Investment Fund (PIF) and the DP World Tour via a memo from PGA TOUR Commissioner Jay Monahan on Sunday.

    The memo covered three primary points. First, Monahan noted that “we have made meaningful progress” in negotiations with SSG and are currently working toward finalization of terms and drafting necessary documents.

    Secondly, with just hours until the Dec. 31 expiration date for the Framework Agreement with the PIF and DP World Tour, the memo spoke to an effort to extend the deadline into the new year based on the progress made to date. Monahan categorized the PIF and DP World Tour discussions as “active and productive.”

    Finally, the memo restated the TOUR’s goal relative to all negotiations, which is to bring SSG, PIF and the DP World Tour on board as minority co-investors in PGA Tour Enterprises in 2024. Monahan said, “These partnerships will allow us to unify, innovate and invest in the game for the benefit of the players, fans and sponsors.”

    Several players were already at Kapalua in Maui, Hawaii, where FedExCup champion Viktor Hovland and world No. 1 Scottie Scheffler will be among the headliners at The Sentry, which will kick off the 2024 PGA TOUR season. This week also marks the TOUR’s return to a calendar-year schedule.

    The TOUR has been negotiating with PIF since June’s Framework Agreement was announced and has since attracted a host of other interested investors. The list was formalized in early December when the Board unanimously agreed to further negotiate with SSG, a consortium of U.S.-based professional sports team investors led by Fenway Sports Group.

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