Player Directors and Woods Address Speculation in New Memo

Speculation abounds in the golf world as rumors of more players defecting from the PGA Tour to join LIV Golf continue to dominate the headlines and prompt a response from the circuit’s top players. In a memo sent to players late Friday, the Tour’s six policy board player directors, including Tiger Woods, Charley Hoffman, Peter Malnati, Patrick Cantlay, Webb Simpson, and Jordan Spieth, addressed the ongoing negotiations with Saudi Arabia’s Public Investment Fund and the highly anticipated “governance” review.

The memo, which also mentions Adam Scott as Hoffman’s future replacement, sought to dispel the swirling rumors and provide a two-page update on the status of the negotiations. “With the 2024 season looming, and amidst intense speculation in our game, we felt it important to communicate directly with you,” the memo began. The player directors assured players of their commitment to the Tour’s long-term success and their progress on various fronts since Tiger Woods joined the board.

The update emphasized the establishment of a “governance committee” to ensure that significant decisions moving forward will require input and approval from the player directors, echoing Tiger Woods’ comments at the Hero World Challenge earlier in the week.

While the memo did not provide specific details, it mentioned the ongoing negotiations with PIF and the DP World Tour toward reaching a definitive agreement by the Dec. 31 deadline outlined in the framework agreement. The memo also hinted at potential investment opportunities, in line with recent suggestions by Tour commissioner Jay Monahan, that could complement the PIF investment.

Highlighting the non-traditional nature of the potential investment groups, the memo stressed the importance of reaching a unanimous consensus before voting on any proposal that involves creating a for-profit entity or considering third-party investment. Central to any deal with PIF or other private equity would be equity grants for members, with a commitment to providing ownership opportunities to both current and future PGA Tour members.