Will the PGA Tour and PIF merger ever become a reality? In the past week, two independent directors have resigned from the PGA Tour policy board. Four days ago, the architect of the PGA Tour and PIF negotiation, Jimmy Dunes left the policy board as his idea probably didn’t align with what Commissioner Jay Monahan and Vice Chairman, Tiger Woods proposed.
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Dunes cited the stagnant growth in the PIF-PGA Tour merger and the majority of players on directors being on board as the reason for his resignation. He said, “Since the players now outnumber the independent directors on the board and no meaningful progress has been made towards a transaction with the PIF I feel like my vote and my role is utterly superfluous.”
Following his path, another independent director, Mark Flaherty stepped down from the director position as the Woods-Monahan duo’s goals failed to inspire him too. However, unlike Dunes, Flaherty didn’t disclose the reason behind his resignation. But he was appreciative of the 4 and a half years spent as an independent director and showed gratitude towards Jay Monahan for his leadership, The news of Flaherty leaving the PGA Tour policy board was shared on X by NBC writer, Rex Hoggard. Flaherty said in the letter as NBC reported, “It’s been an honor and a privilege to serve on the policy board for the past 4 ½ years. Golf has always been a significant part of my life. Being able to blend my passion for the sport with the intricate workings and growth of the PGA Tour has been a truly rewarding experience.”
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With Flaherty out of the PGA Tour policy board, now only three independent directors including Joe Gorder, Mary Meeker, and chairman Ed Herlihy remain on the policy board. The independent directors vote now is in the minority as six players directors, Tiger Woods, Jordan Spieth, Adam Scott, Patrick Cantlay, Peter Malnati and Webb Simpson remain on the policy board.
The Monahan-led PGA Tour’s policy board has been shattering apart, and with no PGA Tour and PIF merger in sight, it leaves the golf world wondering if it would ever be finalized. Although there has not been any particular update regarding the $3 billion merger, the vice chairman, Woods says that there has been progress made.
Tiger Woods says the negotiation with PIF is ‘fluid’
On Tuesday of the PGA Championship, Tiger Woods addressed the reporters and gave an insight into what’s going on behind the closed curtains between PGA Tour and PIF. Unlike Jimmy Dunes’ statement that there has been no progress in the merger, Woods explained, “It’s ongoing, it’s fluid. It changes day-to-day.”