After a year of uncertainty, 2024 was meant to usher in a new era of professional golf following the shocking announcement last June that the PGA Tour, DP World Tour and Saudi Arabia’s Public Investment Fund – the financial backer of the rival LIV Golf – had agreed to merge their commercial assets to create a new, for-profit golf entity.
Golf fans have come to realize over the last six months that the framework agreement was nothing more than a good way to end litigation and a bad way to announce plans to form a new venture, known as PGA Tour Enterprises, to reunite the professional game.
A Dec. 31 deadline was set to reach an agreement, but on Sunday night, PGA Tour commissioner Jay Monahan sent a memo to players that stated “active and productive” negotiations would continue into 2024 with the PIF based on the progress made to date. Monahan also claimed the Tour has “made meaningful progress” with the Strategic Sports Group (SSG), an outside investment group headlined by Fenway Sports Group.
So … now what? As the PGA Tour returns to action this week, golf fans are still left to wonder what the future of the sport will look like. The New Year’s Eve update provided little information and left fans with numerous unanswered questions that need to be addressed, sooner rather than later. Until then, let’s put on our speculation hats and look at the impact extending the deadline may have on the pro game.