A group of PGA Tour players are set to meet in the coming days with the head of the Saudi Arabian Public Investment Fund, Yassir Al Rymayaan. This was advanced this Friday by Golfweek.
According to the North American publication, six different sources have confirmed that the players’ representatives on the PGA Tour are being encouraged to hold this meeting with Yasir Al-Rumayyan and that it could happen immediately.
Two sources pointed out that the meeting is initially scheduled for this very Monday at a private residence in Ponte Vedra Beach, Florida, where the TPC Sawgrass is located, the venue this week for the THE PLAYERS Championship.
The details of the meeting have not been revealed, although several insiders warn that it is still unclear whether the powerful Saudi investment chief will commit to attend or cancel his attendance at the last minute.
Five of the six player representatives on the PGA Tour, who are also part of the PGA Tour Enterprises board, are playing THE PLAYERS: Patrick Cantlay, Jordan Spieth, Adam Scott, Peter Malnati and Webb Simpson. The only one not competing is Tiger Woods. Joe Ogilvie, a retired veteran who joined both boards last week as a liaison between players and the Board, plans to arrive in Ponte Vedra Beach on Sunday, as a board meeting of Enterprises is scheduled for Tuesday at the Tour’s headquarters in Sawgrass.
Jordan Spieth confirmed the intention for the meeting to take place after finishing his second round. “I’m not sure I can say much more other than that we are being encouraged to have a meeting with them. At the same time, we think our members should know when and what could happen. I don’t think there’s much more I can say about it, but we are being encouraged, which I think is good. The whole board should know if there’s going to be any chance of negotiation”.
The meeting between Al-Rumayyan and the players would serve to break the ice informally and advance negotiations between the Tour and the PIF, which have been stalled since the announcement on June 6 of a framework agreement between the parties. Some players are still angry about the secrecy with which the framework agreement was carried out and are sceptical of a final deal with the Saudis.
On Tuesday, Jay Monahan, the Tour’s commissioner, confirmed that he had recently met with Al-Rumayyan in Saudi Arabia and that he had been accompanied by representatives of Strategic Sports Group. In January, SSG invested $1.5 billion in PGA Tour Enterprises. “Our negotiations are accelerating as we spend time together,” Monahan said.
According to the terms of the Framework Agreement, the PIF could also become a minority investor in PGA Tour Enterprises, but last month Jordan Spieth was notably lukewarm when asked if a deal with the PIF was necessary after SSG’s financial injection.
These comments led to a public response from Rory McIlroy, whom Spieth replaced on the Board of Directors in December. McIlroy said that reaching an agreement with the PIF is the best thing and warned that Spieth’s implied rigidity towards the Saudis could complicate negotiations. McIlroy has also suggested that LIV golfers be allowed to return to the PGA Tour without penalty. This is one of the thorniest issues that negotiators will face. In fact, several players immediately rejected McIlroy’s opinion, including Justin Thomas, Rickie Fowler and Number One Scottie Scheffler.
When Monahan addressed the media on Tuesday at TPC Sawgrass, he repeatedly refused to offer details about the state of the negotiations, but reiterated his conviction that a deal with the Saudis is the best thing. Asked about what the game will be like if a deal is not reached with the Saudis, Monahan said: “I suppose I’ll answer that question if a deal is not reached”.
“However we end up, I think we’re not going to be able to satisfy everyone, and that goes for both sides,” he added. “But what we’re trying to do is get to the best outcome”.
