Tiger Woods and Rory McIlroy could have owned LIV franchises as Senate considers PGA Tour/PIF deal

Tiger Woods and Rory McIlroy had the opportunity to acquire ownership stakes in LIV Golf franchises as part of a proposed truce involving the PGA Tour, DP World Tour, and Saudi Arabia’s Public Investment Fund (PIF).

Documents released during a Senate sub-committee hearing in Washington, which investigated the compromise agreement that resolved the lawsuit between the tours and the PIF-backed breakaway LIV circuit, unveiled this and several other revelations.

Greg Norman, the LIV tour commissioner, seemed poised for exclusion from his role, as it was made clear in the three-hour-long hearing that his position would become redundant if the agreement goes ahead.

Yasir Al-Rumayyan, governor of PIF, was also being considered for a possible membership in Augusta National Golf Club, host of the Masters, and the St Andrews-based Royal and Ancient.

The deal with PIF is anticipated to bring in over $1bn to the PGA Tour and its strategic partners, Europe’s DP World Tour, both of whom have agreed to the preliminary deal announced on June 6.

Woods and McIlroy, strong critics of the LIV project, were expected to participate in 10 LIV events, had they decided to join. However, discussions regarding their involvement didn’t progress further.

The committee, led by Democratic Senator Richard Blumenthal, is examining potential anti-trust issues and foreign participation in a US sports league.

Norman’s future with LIV Golf seems uncertain. Ron Price, the chief operating officer, testified that if the preliminary agreement becomes permanent, the PGA Tour would manage LIV, effectively eliminating the need for Norman’s role, which also includes CEO duties.

Other propositions considered during the negotiations that led to the initial agreement included: a World Golf Series team event in Saudi Arabia, repositioning LIV tournaments to the autumn, and Saudi sponsorship of designated PGA Tour events.

The only significant development so far has been the resolution of the legal conflict between the competitors, which was reportedly costing $100m annually.

Amanda Staveley, director of Newcastle United, and British businessman Roger Devlin, who initially proposed the idea of a peace deal, are documented to have been involved. The preliminary agreement was signed on May 30, a day after a clause was added to prevent criticism towards the Saudi regime, widely criticized for human rights abuses and alleged involvement in the 9/11 attacks – claims repeatedly denied by the Saudi authorities.

During the hearing, Blumenthal addressed Price and Dunne, stating, “There is something that stinks about this path you’ve taken.” He added, “Saudi has the money, the money is why you have surrendered. I think the American people can see through this.”

PGA Tour officials defended their decision, claiming LIV could have jeopardized their organization without the agreement. A “taskforce” has been set up to determine how to compensate golfers who remained loyal to the PGA Tour rather than accepting lucrative deals to join LIV.

Dunne stated, “These safeguards were very important to us. We could not, and would not, have reached even this initial framework agreement without all of those strong safeguards against inappropriate control over the game of golf by PIF.”

The investigation continues as both sides strive to finalize details regarding the future of men’s professional golf.

Any agreement must be approved by the PGA Tour policy board, which recently lost a long-standing member. Randall Stephenson resigned after serving for 12 years, expressing disapproval of the deal with PIF.

Frequently Asked Questions (FAQs) about PGA Tour/PIF peace deal

Who could have potentially owned LIV Golf franchises as per the proposed peace deal?

Tiger Woods and Rory McIlroy could have potentially owned LIV Golf franchises as part of the proposed peace deal between the PGA Tour, DP World Tour, and Saudi Arabia’s Public Investment Fund.

What role was Greg Norman expected to lose?

Greg Norman was expected to lose his position as the commissioner of the LIV Tour if the proposed deal were to go through, as his role would become redundant.

What is the potential value of the deal with the Public Investment Fund (PIF) to the PGA Tour?

The deal with the Public Investment Fund (PIF) is estimated to be worth over $1 billion to the PGA Tour and its strategic alliance partners.

What was the stance of Tiger Woods and Rory McIlroy on the LIV project?

Tiger Woods and Rory McIlroy were strong critics of the LIV project and had been expected to participate in 10 LIV events if they had decided to join.

What issues is the committee led by Democratic Senator Richard Blumenthal examining?

The committee led by Democratic Senator Richard Blumenthal is examining potential anti-trust issues and the extent of foreign involvement in a US sports league.

What proposals were considered during the negotiations that led to the initial agreement?

Proposals considered during the negotiations included hosting a World Golf Series team event in Saudi Arabia, moving LIV tournaments to the autumn, and securing Saudi sponsorship for designated PGA Tour events.

Who resigned from the PGA Tour policy board due to disapproval of the deal with PIF?

Randall Stephenson, who served on the PGA Tour policy board for 12 years, resigned due to his disapproval of the deal with the Public Investment Fund (PIF).

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