The PGA Tour could not afford to conduct a lengthy spending war against Saudi Arabia, the Wall Street Journal reported on Saturday, citing a person who heard the remarks by PGA Tour commissioner Jay Monahan.
Sep 25, 2022; Charlotte, North Carolina, USA; PGA Tour commissioner Jay Monahan talks during the singles match play of the Presidents Cup golf tournament at Quail Hollow Club. Mandatory Credit: Peter Casey-USA TODAY Sports
June 10 - The PGA Tour could not afford to conduct a lengthy spending war against Saudi Arabia, the Wall Street JournalMonahan told employees that the Tour had spent close to $50 million in its legal fight which had years to go, and had dipped into $100 million of its reserves to pay for its schedule, the report added.
"We cannot compete with a foreign government with unlimited money," Monahan said, according to the WSJ report. "This was the time….We waited to be in the strongest possible position to get this deal in place."Reporting by Urvi Dugar in Bengaluru; Editing by Alex Richardson
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