PGA Tour Commissioner Jay Monahan, who had been on medical leave, returned to the spotlight for the first time Wednesday night. He sent a long and detailed memo to PGA Tour members. He detailed numerous updates about the PGA Tour in the message. This included news regarding the framework agreement between the Public Investment Fund of Saudi Arabia and the PGA Tour.
Monahan began by saying that he feels better than ever since his return on 17 July. He did not specify what the medical emergency was.
Monahan stated that the framework agreement was ongoing in the memo. In his message, Monahan provided additional details on the deal. This included a “Player Benefit Program” which would “be financially significant in total as well as incremental to our planned Compensation Package .”
The memo included a section on player discipline. It stated that a task force was evaluating potential pathways for LIV players to return to the PGA Tour in the future.
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The memo did not mention if LIV players will face penalties when they return. The task force is led by Andy Pazder, PGA Tour chief tournaments and Competitions officer, Jason Gore (who in the memo announced himself as the new Executive vice president and Chief player Officer), and Neera Shetty, Executive Vice president/vice counsel.
Colin Neville of Raine Group, who was appointed as a “third-party advisor” for players in light of the framework agreement, will also be on board. In the memo, Neville was to play a role in streamlining communication between the Tour’s players and the PIF during the “complicated” and “time intensive” negotiations.
Monahan said that the PGA Tour schedule for 2024 will be announced in two weeks, during the FedEx St. Jude Championship which takes place on Tuesday, August 8. For the first time in 2013, the Tour will be returning to a calendar-year schedule.
Monahan stated that Tour members believed that the proposed rollback “was not warranted” and “not in the best interests of the game”. Monahan added that the Tour would work with the USGA, R&A, and other stakeholders to find a solution to serve players, fans, and the sport at all levels.
Monahan said that the Tour is also working to replace Randall Stephenson who resigned due to the framework agreement. Patrick Cantlay, Webb Simpson and independent directors Mark Flaherty, Mary Meeker and Patrick Cantlay are all part of a search for a new director.
By: Cameron Jourdan
Title: Jay Monahan’s late-night memo to players filled with series of PGA Tour updates
Sourced From: golfweek.usatoday.com/2023/07/26/pga-tour-news-jay-monahan-memo-liv-merger/
Published Date: Thu, 27 Jul 2023 02:00:36 +0000
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