If you’re feeling perplexed by the current state of negotiations between the PGA Tour and Saudi Arabia’s Public Investment Fund, as well as emerging investment opportunities from U.S.-based interests, you’re not alone. Imagine being one of the approximately 500 members of the PGA Tour, with a certain status and a lot of uncertainty. Fortunately, former PGA Tour pro Joe Ogilvie has stepped in to explain the current situation in a way that’s easy to comprehend. Ogilvie, who played on the PGA Tour from 1999-2014 and now manages money for Wallace Capital Management, recently sent an open letter to the Tour’s membership on October 24th, obtained by Golfweek. Known for his knowledge of the Tour’s inner workings, Ogilvie is considered one of the smartest voices in the game and remains well-informed about Tour happenings. Ogilvie highlights the pros and cons of potential decisions to be made and emphasizes the importance of understanding the implications of adding a partner to the Tour. He compares the decision to getting married, stressing that once the Tour takes on a financial partner, they will be intimately involved in decision-making and overall management. Ogilvie advises the players to prioritize addressing governance issues and ensuring their control over the Tour, particularly if they adopt a “for profit” model. He emphasizes the need for players to maintain governance control over the new for-profit entity, as well as the existing not-for-profit entity. While Ogilvie doesn’t explicitly state the best course of action for the Tour, he reminds the players that it is ultimately their Tour and urges them to take charge. He suggests that any new investors should understand and respect the players’ relative control position on the board. Ultimately, Ogilvie’s letter aims to provide clarity and guidance to the PGA Tour membership during this critical time.
Daniel Miller takes readers to the greens with his passion for golf. He offers coverage of major golf tournaments, player achievements, and insights into the sport’s rich history, making him a trusted source for golf enthusiasts.