Many prominent names in golf continue searching for details in regards to the PGA Tour's deal with the Saudi Arabian Public Investment Fund where commercial operations across the sport would be housed under a new for-profit entity, and you can now add Tom Watson to that list. The eight-time major champion penned an open letter to PGA Tour commissioner Jay Monahan and the PGA Tour Policy Board sharing his reservations about the impending agreement as he joins those seeking much-needed clarification.
"There are many unanswered questions to date, which I hope will be addressed with the players by Tour management at this week's Travelers tour event," wrote Watson. "What does acceptance of this partnership mean to the Tour? What do we get? What do we give up? Why was this deal done in such secrecy and why wasn't even one of the players who sits on the Tour's Policy Board included? A matter this profound deserves thorough vetting by a representative group of stakeholders which include those, who in the end, define the public image and emotional connection with the PGA Tour."
Watson's letter follows a tumultuous two-week stretch for the PGA Tour, highlighted by the PGA Tour revealing its framework agreement with the Saudi Arabian PIF and DP World Tour in a surprise announcement on June 6. Details were scarce — and remain that way — as Monahan and PGA Tour policy board member Jimmy Dunne -- who's recognized as the architect of this landmark deal -- made the media rounds.
An open letter from Tom Watson to the @PGATOUR sent this morning regarding the recent agreement with the PIF. @5ClubsGolf pic.twitter.com/AGglnJDk50
— Gary Williams (@Garywilliams1Up) June 19, 2023
The Tour has since announced that Monahan, who is slated to serve as CEO of the proposed for-profit entity, is recovering from a medical situation and has momentarily stepped down from leading the day-to-day operations. In his place, PGA Tour executives Ron Price and Tyler Dennis will assume his leadership responsibilities.
Dennis insists the PGA Tour (and this deal) is business as usual with Monahan recovering and news surfacing of the Department of Justice poking its nose into the deal. The PGA Tour and the Saudi Arabian PIF have since dropped their litigation with prejudice.
Watson goes on to pose many more questions. What percentage of PIF investment is an acceptable amount? What is the plan to reinstate LIV Golf members on the PGA Tour? Which PGA Tour assets will be housed under the new commercial entity?
"My overarching questions remain." Watson continued. "Is the PIF the only viable rescue from the Tour's financial problems? Was/is there a plan B? And again, what exactly is the exchange? We need clarity and deserve full disclosure as to the financial health of the PGA Tour and the details of this proposed partnership."
The 73-year-old's thoughts mirror that of PGA Tour and LIV Golf members. Players are still unaware of the details of this agreement and those such as Matt Fitzpatrick, Collin Morikawa, Cameron Smith and Brooks Koepka voiced their lack of knowledge during the week of the U.S. Open. Watson asks questions players, fans and media have all been wondering.
The next question is: When will we get the answers?
