ATLANTA — The PGA Tour is all in on its still-developing agreement with the Saudi Public Investment Fund. Speaking prior to the Tour Championship at East Lake on Tuesday morning, PGA Tour commissioner Jay Monahan indicated that while he fully expects a deal to get done, the Tour was facing impending financial challenges … and there is, as yet, no public indication of any other source of funding for the Tour.
In his annual “state of the Tour” address, Monahan held forth on a range of topics, most notably the status of ongoing negotiations between the Tour and PIF.
“When you look at the performance of our players, you look at the commitment of our players, our partners, our fans, all of our constituents, our tournaments,” Monahan said, “I feel like we're in the strongest position to be able to succeed and successfully conclude these negotiations in a way that protects the legacy of the PGA Tour on a long-term basis.”
Monahan conceded as much on Tuesday, but spun the agreement forward as an opportunity to tap into the PIF’s capital for the Tour’s own purposes. He noted that the agreement will be a chance for the Tour to “use the capital to be able to invest back in our product … to do things like further reduce commercial inventory in our broadcast, to further invest in our data businesses, to further invest in our media business.
“I'm not going to talk publicly about [specific details] until we've completed those discussions and I can answer that question specifically and directly,” he said.
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