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McIlroy says he and Adam Scott also involved in Saudi meetings

Rory McIlroy, of Northern Ireland, walks off after completing the first round of the Wells Fargo Championship golf tournament at Quail Hollow on Thursday, May 9, 2024, in Charlotte, N.C. (AP Photo/Erik Verduzco)

Rory McIlroy, of Northern Ireland, walks off after completing the first round of the Wells Fargo Championship golf tournament at Quail Hollow on Thursday, May 9, 2024, in Charlotte, N.C. (AP Photo/Erik Verduzco)

Rory McIlroy, of Northern Ireland, hits from the fairway on the 16th hole during the first round of the Wells Fargo Championship golf tournament at Quail Hollow on Thursday, May 9, 2024, in Charlotte, N.C. (AP Photo/Erik Verduzco)

Adam Scott hits on the sixth hole during the first round of the Byron Nelson golf tournament in McKinney, Texas, Thursday, May 2, 2024. (AP Photo/LM Otero)

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Rory McIlroy and Adam Scott are joining Tiger Woods on the subcommittee directly involved in negotiating with the Saudi backers of LIV Golf, an addition to what the PGA Tour previously disclosed even though McIlroy says he’s been involved in discussions.

McIlroy said Thursday at the Wells Fargo Championship that while he is not on the PGA Tour Enterprises board, “I’m in some way involved in that transaction committee.”

It was yet another twist in the players’ involvement on the board. McIlroy resigned in November, and the other player directors voted to replace him with Jordan Spieth. Then, Webb Simpson said he would resign his seat but only if McIlroy would replace him.

McIlroy was willing, but he said there was “a subset of people on the board that were maybe uncomfortable with me coming back on for some reason.”

The PGA Tour sent out a release Thursday night confirming Joe Gorder, the chairman and CEO of Texas-based Valero, would be the inaugural chairman of PGA Tour Enterprises. It also listed McIlroy and Scott on the transactional subcommittee — along with Woods, Gorder, PGA Tour Commissioner Jay Monahan, John W. Henry of Fenway Sports Group and Joe Ogilvie, the director liaison.

McIlroy said he was on a call with the group Sunday that last 1 1/2 hours as it went over a 150-page document on a future model, among other things.

Xander Schauffele reacts to a putt on the 12th hole during the second round of the Wells Fargo Championship golf tournament at Quail Hollow on Friday, May 10, 2024, in Charlotte, N.C. (AP Photo/Erik Verduzco)

“I’m not on the board, but I’m in some way involved in that transaction committee,” McIlroy said. “I don’t have a vote so I don’t have I guess a meaningful say in what happens in the future, but at least I feel like I can be helpful on that committee.

“And that was sort of a compromise for I guess not getting a board seat.”

A person directly involved with the PGA Tour Enterprises board was surprised Thursday to hear Woods was the only player involved because the person thought McIlroy and Scott were supposed to be part of the subcommittee. The person spoke on condition of anonymity because board matters are to be kept private.

Simpson suggested as much Wednesday when he spoke of player directors supporting McIlroy being involved based on his ideas and experience.

“I just think his views are important, and the other guys feel the same,” Simpson said. “We kind of had to figure out, ‘OK, where is his place? How can we hour our role as board members ... but also bring in a guy at least to voice his ideas and just see how he can help us.”

Monahan had said McIlroy not returning to the board was “in no way a commentary on Rory’s important perspective and influence.” He said it was more sticking to the process of how a player becomes a board member.

Scott joined the PGA Tour in January. Other players on the board are Woods, Spieth, Simpson, Patrick Cantlay and Peter Malnati, with Ogilvie — a former player — as a liaison director.

The PGA Tour already has Strategic Sports Group as a minority investor, and is working on a similar deal with the Public Investment Fund of Saudi Arabia.

AP golf: https://apnews.com/hub/golf

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The price of loyalty: pga tour pros from jordan spieth to adam scott to chesson hadley react to the pga tour's equity ownership plan, share this article.

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McKINNEY, Texas – On April 24, PGA Tour pros competing in the pro-am at the Zurich Classic of New Orleans couldn’t stop checking their phones. The reason? To tap refresh on their email and see if their notification of how much they had been allocated of $930 million in player equity shares that were divvied up to nearly 200 Tour members, or as one player put it, “Christmas in April,” had arrived.

Commissioner Jay Monahan originally detailed the Tour’s first-of-its-kind equity ownership program in a Feb. 7 memo to players. And it was why players experienced an uncontrollable urge to check their phones during play; it was so egregious that the Tour sent pros a memo reminding them of its phone usage policy. 

Everyone wanted to know how much their loyalty was worth. The Telegraph reported Tiger Woods was to receive $100 million in equity and Rory McIlroy $50 million from a tier in which 36 players reportedly split $750 million. When McIlroy was asked at the Zurich Classic how much would make players feel validated for their decision to stay with the PGA Tour, he said, “I think the one thing we’ve learned in golf over the last two years is there’s never enough.”

We talked to a wide array of pros at the CJ Byron Nelson last week to find out how the rollout went and how they feel about being shareholders in the Tour’s new for-profit entity.

Chesson Hadley: 'The basement pays pretty good'

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Chesson Hadley hits his tee shot on the first hole during the third round of the Farmers Insurance Open golf tournament at Torrey Pines Municipal Golf Course – South Course. Mandatory Credit: Ray Acevedo-USA TODAY Sports

One of those players who had his phone out and received a memo with good news was Chesson Hadley. Last June, he was the first-round leader at the RBC Canadian Open after Tour Commissioner Jay Monahan stunned the world by announcing the framework agreement with Saudi Arabia’s PIF. Hadley, 36, remarked at the time that he would like to be compensated for his loyalty and the one-time Tour winner, ranked No. 297 and with earnings north of $12 million, was crucified for it.

“I chose the wrong pronoun. I said ‘I’ and people thought I was trying to be like I’m some world hero, golf hero that deserves it. I’m very aware of my career compared to the big fish who have stayed, I’m very aware of that,” he said last week ahead of the CJ Cup Byron Nelson.

“The basement pays pretty good. I have a good view from the basement.”

Hadley was pleased to receive his shares, something he said all players who finished in the top 125 in the FedEx Cup point standings received and noted that he was “blessed to be in the right place at the right time.”

“Some people deserve more, some people didn’t get any that probably should have but it’s not a perfect system,” he added. “It will be curious what the Tour looks like in 10 years. There’s never been a major sports association that hasn’t gone up in value, right? They keep growing. Teams like the Dallas Cowboys are worth $6 billion now and 10 years ago they were worth $3 billion. Hopefully, that’s the trajectory of the PGA Tour and everybody’s equity grows.” 

Asked if being a shareholder in the Tour changes his view about LIV players returning, he said, “It makes me want some of them back more. My piece goes up immediately if Jon Rahm comes back. The Tour is instantly more valuable if he comes back. I would think my equity goes up if PIF becomes an investor but I don’t know.”

Adam Scott: 'I don't think anything the PGA Tour is doing right now is about spending time looking in the mirror'

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Adam Scott putts on the fourth hole during the third round of the AT&T Pebble Beach Pro-Am golf tournament at Pebble Beach Golf Links. Mandatory Credit: Michael Madrid-USA TODAY Sports

As a player-director on the Tour’s policy board, Scott, 43, has had an intimate view of how the sausage has been made in forming the for-profit entity and dishing out shares in the new venture.

“Honestly, I’ve really only heard of a couple of disappointments from some people who didn’t receive any. Of course, you’d be disappointed if you thought you were going to get some equity or a grant and you didn’t,” he said, noting that no one had directly approached him but that’s what he had heard through the grapevine. “I don’t think there are any holes in the system that was devised. I was asked should Jack Nicklaus get the most? I don’t think anything the PGA Tour is doing right now is about spending time looking in the mirror. It’s about building a Tour for the future.

“Grants to the legends category was correct and I just don’t know how far you can go in giving grants to players of 20 years ago, for example, when it is more about now and looking forward.”

Scott said he wasn’t sure how big a carrot the shares would be for players but called it a “gift,” a “perk,” and a “bonus.”

“It’s not exactly the same as the retirement plan but I think it is an additional perk of being a Tour member and having a stake in the business,” he said. “In the years going forward, hopefully the business goes well and this equity is a real bonus.”

Does he expect player equity to discourage more players from jumping to LIV Golf for lucrative guaranteed contracts?

“I don’t think it was designed as a retention tool if you want to call it that,” said Scott, fifth on the career earnings list with more than $64 million in earnings. “I think the guys who have stayed so far will have a longer-term view of things and will appreciate what the equity is and not just throw that away and leave.”

Jordan Spieth: 'I think it's very confusing'

2024 CJ Cup Byron Nelson

Jordan Spieth watches his shot from the second tee during the second round of the 2024 CJ Cup Byron Nelson. (Photo: Jim Cowsert-USA TODAY Sports)

Spieth, age 30 and seventh on the all-time career money list with $62 million, is a fellow player- director on the Tour policy board. He was asked about the player equity program during his pre-tournament press conference.

“I had a couple players call me and say, wow, I didn’t know — they were excited about what their grants — I don’t know what their grants were. They were excited it was more than they thought it was,” he said. “I had conversations all the way back to even maybe just into the new year with some guys who missed out on it that would’ve made it other years. So I heard both sides.

“As far as the roll-out, I believe that it was made very clear to everybody that if anyone was confused in what it meant, how was it coming, and the roll-out specifically, there was PGA Tour officials every week that could sit down and explain any time anybody wanted to. I thought that was a good idea. I think it’s very confusing. It still is confusing for us players on when it’s vested, what’s the best idea for taxes, you know, stuff that we don’t — we all have people for that. That’s not what any of us do and it’s fairly complicated.”

Matt Kuchar: 'It feels like you're a shareholder now'

2024 Zurich Classic

Matt Kuchar waits his turn on the 16th green during the first round of the Zurich Classic of New Orleans golf tournament. Mandatory Credit: Stephen Lew-USA TODAY Sports

Kuchar, 45, is 10 th  on the all-time money list with earnings nearing $60 million. He said he’s kept a low-key, head-down approach to the player equity plan.

“It feels like you’re a shareholder now. It’s kind of cool to be an investor in the original new entity, whatever that is,” Kuchar said, but added, “I don’t get real excited until the deal is done, until the money is in your account. I reserve some of the excitement until the deal is done. It’s a nice bonus.”

Kuchar has always been a good soldier for the Tour, willing to do a media interview, shake hands with sponsors, stop by a tent after the round. Asked if being a shareholder will make him more willing to do more, he said, “I feel like I have a good rapport with fans and they like that I smile and I look like I’m enjoying myself out there. I feel like that has gone as far for me financially as good golf has. That’s a way I’m an asset to the Tour. I’m fortunate that fans want to holler my name. Am I going to start a social media presence? I probably have such a tainted view of social media that it would be tough for me to actually be the one that does it, maybe if someone else does it on my behalf, maybe if that helps the PGA Tour and the stock, maybe. It’s a neat incentive to think about it as a shareholder if you can do something to help the Tour, you can also help yourself. It’s an incentive, for sure.”

Kuchar said his stake was what he expected. He didn’t have any problems with how it was handled but did express some disappointment with the signature event sponsor invites, particularly with the RBC Heritage, where he was a past champion. “I had high hopes on that one. That’s the one I thought I stood my best chance. I was bummed out. I thought I did the things you were supposed to do. A couple of days of being disappointed went away and I realized best to earn them,” he said.

[Kuchar learned on Sunday that he had received an exemption into the Wells Fargo Championship.]

Mackenzie Hughes: 'I wasn't waiting for a handout'

2024 Valspar Championship

Mackenzie Hughes of Canada plays a shot from a bunker on the 16th hole during the final round of the Valspar Championship at Copperhead Course at Innisbrook Resort and Golf Club on March 24, 2024 in Palm Harbor, Florida. (Photo by Julio Aguilar/Getty Images)

Hughes, 33, has been a refreshing voice speaking out on the greed in the game during these turbulent times. He’s earned more than $15 million during his career and the player equity program wasn’t something he was spending too much time thinking about given the number of years before a player can vest.

“I think they could have done a better job. Some people have to vest for eight years and some guys don’t. You have to play 15 events but there are other guys like Tiger who isn’t going to play 15 events; he’s going to vest in other ways. That option isn’t going to be available for others. To me there are so many questions and loopholes,” Hughes said. “It’s not money that I expected. I wasn’t waiting for a handout, let’s put it that way. If it turns out to be something nice, great, but I haven’t put much thought into it.” 

Austin Smotherman: 'I better check my spam'

2023 Butterfield Bermuda Championship

Austin Smotherman of the United States walks the eighth green during the first round of the Butterfield Bermuda Championship at Port Royal Golf Course on November 09, 2023 in Southampton, Bermuda. (Photo by Marianna Massey/Getty Images)

Smotherman, 29, is playing this season out of the Nos. 126-150 category and splitting time between the PGA Tour (five starts) and Korn Ferry Tour (three starts) this season. He’s earned nearly $2 million on Tour during his three seasons. More than a week after the majority of players had received word about their equity ownership, Smotherman still was in limbo.

“I haven’t seen anything yet,” he said. “I was a full-status guy at one point, do I get any? Even if it is half of a half of a percent.” 

He smiled. “I guess I’ve got to check my spam.”

But even Smotherman took solace in knowing that the program has an additional $600 million in equity grants that will be awarded in amounts of $100 million annually starting in 2025.

“Play better and there’s more equity to be had,” he said.

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Taylor Pendrith wins 2024 CJ Cup Byron Nelson for first PGA Tour victory

T he 2024 CJ Cup Byron Nelson became a two-man race with two holes to go, where each player was aiming for their first victory on the PGA Tour.

In the end, it was Canadian Taylor Pendrith who took home the trophy at 23 under for his first win in his 74th start on the Tour. The 32-year-old shot a 4-under 67 on Sunday in the final round at TPC Craig Ranch in McKinney, Texas, to beat Ben Kohles (66) by one shot.

Entering the week, Pendrith had missed more cuts (six) than he had made (five) so far this season on Tour. His five made cuts featured four top-25 finishes, including a pair of T-11's in his last two starts at the Corales Puntacana Championship and Zurich Classic of New Orleans.

This article originally appeared on Golfweek: Taylor Pendrith wins 2024 CJ Cup Byron Nelson for first PGA Tour victory

Taylor Pendrith reacts during the final round of THE CJ CUP Byron Nelson golf tournament. (Photo: Andrew Dieb-USA TODAY Sports)

Rory McIlroy says he and Adam Scott also involved in Saudi meetings

Rory McIlroy, walking off the 18th green after completing his first round of the Wells Fargo Championship Thursday at Quail Hollow in Charlotte, N.C., said he is part of the PGA Tour committee negotiating with the Saudi backers of LIV Golf.

Rory McIlroy and Adam Scott are joining Tiger Woods on the subcommittee directly involved in negotiating with the Saudi backers of LIV Golf, an addition to what the PGA Tour previously disclosed even though McIlroy says he’s been involved in discussions.

McIlroy said Thursday at the Wells Fargo Championship that while he is not on the PGA Tour Enterprises board, “I’m in some way involved in that transaction committee.”

It was yet another twist in the players’ involvement on the board. McIlroy resigned in November, and the other player directors voted to replace him with Jordan Spieth. Then, Webb Simpson said he would resign his seat but only if McIlroy would replace him.

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McIlroy was willing, but he said there was “a subset of people on the board that were maybe uncomfortable with me coming back on for some reason.”

The PGA Tour sent out a release Thursday night confirming Joe Gorder, the chairman and CEO of Texas-based Valero, would be the inaugural chairman of PGA Tour Enterprises. It also listed McIlroy and Scott on the transactional subcommittee — along with Woods, Gorder, PGA Tour Commissioner Jay Monahan, John W. Henry of Fenway Sports Group and Joe Ogilvie, the director liaison.

McIlroy said he was on a call with the group Sunday that last 1½ hours as it went over a 150-page document on a future model, among other things.

“I’m not on the board, but I’m in some way involved in that transaction committee,” McIlroy said. “I don’t have a vote, so I don’t have I guess a meaningful say in what happens in the future, but at least I feel like I can be helpful on that committee.

“And that was sort of a compromise for I guess not getting a board seat.”

A person directly involved with the PGA Tour Enterprises board was surprised Thursday to hear Woods was the only player involved because the person thought McIlroy and Scott were supposed to be part of the subcommittee. The person spoke on condition of anonymity because board matters are to be kept private.

Simpson suggested as much Wednesday when he spoke of player directors supporting McIlroy being involved based on his ideas and experience.

“I just think his views are important, and the other guys feel the same,” Simpson said. “We kind of had to figure out, ‘OK, where is his place? How can we hour our role as board members … but also bring in a guy at least to voice his ideas and just see how he can help us.”

Monahan had said McIlroy not returning to the board was “in no way a commentary on Rory’s important perspective and influence.” He said it was more sticking to the process of how a player becomes a board member.

Scott joined the PGA Tour in January. Other players on the board are Woods, Spieth, Simpson, Patrick Cantlay, and Peter Malnati, with Ogilvie — a former player — as a liaison director.

The PGA Tour already has Strategic Sports Group as a minority investor, and is working on a similar deal with the Public Investment Fund of Saudi Arabia.

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McIlroy, Adam Scott join Woods in PIF talks sub-committee

A day after he was rebuffed while seeking a player director seat on the pga tours’ board, world number two rory mcilroy and australia’s adam scott were drafted into a sub-committee set up to pursue negotiations with liv golf investor pif..

  • Updated May 10, 2024, 7:48 PM IST

File photo of world number two Rory McIlroy who has been inducted into the PGA Tour Enterprises’ panel to further talks with Saudi Arabia’s PIF. Image courtesy Twitter.

  • Rory McIlroy, Adam Scott join Tiger Woods as player representatives in PGA Tour Enterprises’ “transactions sub-committee” to help in talks with Saudi Arabia’s PIF, which funds LIV Golf.
  • McIlroy says he will have no vote on the sub-committee but hopes to contribute with inputs towards compromise deal with PIF.
  • Tour names former Valero CEO Joseph Gorder as inaugural chairman of PGAT Enterprises.

A day after he was denied a seat as player-director on the PGA Tour’s policy board, Rory McIlroy was inducted into a “transaction sub-committee” that has been set up to negotiate a way forward with Saudi Arabia’s Public Investment Fund.

In a statement announcing the unanimous election of Joseph W. “Joe” Gorder as the inaugural chairman of PGA Tour Enterprises’ board of directors, the tour said McIlroy had been added to the seven-member panel “which has been engaging directly in negotiations with the Public Investment Fund”. McIlroy however is not a director of the for-profit subdivision of the tour either.

“The sub-committee’s initial members are Joe Gorder, Joe Ogilvie, John W. Henry, Jay Monahan, Adam Scott and Tiger Woods from the PGA Tour Enterprises board, as well as Rory McIlroy.” The statement added.

Speaking to Golf Channel after the first round of the Wells Fargo Championship in Charlotte, where he was tied for second place behind Xander Schaufele, McIlroy said, “I’m not on the board but I’m in some way involved in that transaction committee.

“I don’t have a vote so I don’t have a meaningful say in what happens in the future, but at least I can feel like I can be helpful on that committee and that was sort of a compromise for, I guess, not getting a board seat.

“I feel like I’ve got good relationships on both sides there and hopefully I can bring something to the table and try to provide some insight and value and see if we can get this thing done.”

Talks between the PGA Tour and PIF, which backs LIV Golf, have stalled despite sporadic efforts to push matters along after the two entities came together under a “framework agreement” last June and set a December 31 deadline that was subsequently pushed back by an unspecified period.

The PGA Tour subsequently roped in the Strategic Sports Group as an outside investor and set up PGA Tour Enterprises, in which PIF has agreed to invest as a minority stakeholder, but is yet to take on any substantial form.

Expanding on its commercial arm, the PGA Tour statement called it “a groundbreaking venture … propelling professional golf into a new era. In January, the Strategic Sports Group made an initial investment of $1.5 billion – with up to $3 billion available – into the entity, and this funding allows the tour to make significant strategic investments for the first time.”

On Gorder, and his role, it added, “Gorder serves Valero Energy Corporation as its executive chairman of the board … Gorder and Valero have been steadfast supporters of the PGA Tour for more than two decades, as Valero has served as title sponsor of the Valero Texas Open since 2002 with the partnership secure through 2028.”

“Joe’s outstanding business acumen and leadership, marked by his time as chairman and CEO of a Fortune 50 company, position him perfectly to lead the PGAT Enterprises Board as we embark on this new chapter,” said tour commissioner Jay Monahan, who is also CEO of the entity.

“His strategic vision is crucial as we collaborate — player directors, board members and tour management — all pulling together to deliver the best for our fans, who are always our top priority, while also enhancing the tour overall for our players and sponsors.”

Added Woods, “With so much work well underway, we were proud to unanimously elect Joe Gorder as chairman,” said Woods, on behalf of the player directors. “He not only has a deep understanding of what the PGA TOUR has and always will stand for, but also the experience and vision to help us realize all that this organisation can accomplish in the future.”

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Rory McIlroy reveals new role in discussions over golf's future and insists 'no strain' with Tiger Woods

Tiger Woods, Rory McIlroy and Adam Scott are players on PGA Tour Enterprises' new transaction subcommittee, who are negotiating with Saudi Arabia's Public Investment Fund; McIlroy not replacing Webb Simpson on the PGA Tour policy board after the prospect reopened "old wounds"

Friday 10 May 2024 12:25, UK

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Rory McIlroy said he has been "some way" involved with discussions with Saudi backers of LIV Golf and insists there is "no strain" in his relationship with Tiger Woods.

The PGA Tour confirmed on Thursday that McIlroy is one of three active players on the newly-created PGA Tour Enterprises' Transaction Subcommittee, alongside Tiger Woods and Adam Scott, who are engaged in direct negotiations with Saudi's Public Investment Fund (PIF).

The trio are part of the seven-person subcommittee alongside four additional members of the PGA Tour Enterprises Board, including PGA Tour commissioner Jay Monahan, although McIlroy is the only member not on the PGA Tour Enterprises board itself.

  • Why Rory McIlroy isn't returning to the PGA Tour policy board
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McIlroy confirmed his role to reporters after the opening round of the Wells Fargo Championship, a day after admitting he was not replacing Webb Simpson on the PGA Tour policy board because the prospect of his return reopened "old wounds" among other players.

"I've already had calls with that group [transaction subcommittee]," McIlroy said on Thursday. "I had a really good hour and a half Zoom with those guys on Sunday, we went through a 150-page doc about the future product model and everything.

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Highlights of the first round of the Wells Fargo Championship, from the Quail Hollow Golf & Country Club

"Yeah, I'm not on the board, but I'm in some way involved in that transaction committee. I don't have a vote so I don't, you know, I don't have I guess a meaningful say in what happens in the future.

"But at least I can, I feel like I can be helpful on that committee, and that was sort of a compromise for I guess not getting a board seat."

McIlroy misses out on board return

Why was McIlroy's board return blocked?

PGA Tour: Latest headlines and video

When is golf next live on Sky Sports?

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Joe Gorder, the chair and chief executive of Valero - an energy company in the United States - has been elected as the inaugural chairman of PGA Tour Enterprises, which was launched when the framework agreement between the PGA Tour, DP World Tour and Saudi Arabia's PIF was announced last June.

John W. Henry of Fenway Sports Group and manager of the Strategic Sports Group is also on the committee, along with player-turned liaison director Joe Ogilvie.

'No strain' with Tiger over 'different views'

It is understood that Patrick Cantlay was among the players who felt "uncomfortable" that McIlroy would automatically take Simpson's seat on the PGA Tour policy rather than going through a formal process, with the former FedExCup champion's view backed up by Jordan Spieth and Woods.

McIlroy sees globalisation and a move towards a 'World Tour' as an absolute necessity in order to unify game, with the former world No 1 also admitting that his friendship with Woods remains strong despite their differing views on some elements of golf's future.

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"I mean, I think friends can have disagreements or not see eye to eye on things," McIlroy added. "I think that's fine.

"We had a really good talk last Friday for 45 minutes, just about a lot of different things. No, there's no strain there.

rory

"I think we might see the future of golf a little bit differently, but I don't think that should place any strain on a relationship or on a friendship."

Watch Rory McIlroy in action at the Wells Fargo Championship and the PGA Championship this month live on Sky Sports. Stream the PGA Tour, DP World Tour, majors and more with NOW.

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