Tiger Woods Says PGA Tour-LIV Golf Agreement Is 'Murky' With Many Moving Parts
NASSAU, Bahamas — For the first time since the "framework agreement" was announced in June, Tiger Woods spoke to the media Tuesday in advance of the Hero World Challenge.
In brief, Woods was surprised by the deal between the PGA Tour, DP World Tour and the Public Investment Fund of Saudi Arabia, and was unhappy he and other players were left out of it, while adding that "it won’t happen again."
He acknowledged the criticism directed at PGA Tour commissioner Jay Monahan but has faith in him going forward.
Tiger Woods admitted to being surprised at first by the news in June of the framework agreement.
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"I think Jay has been a part of the direction, he understands what happened prior to that can't happen again and won't happen again, not with the players that are involved and not with the player directors having the role that we have," he said. “That was part of why I came on to the board is I did have faith in Jay and in what he could do going forward and what can't happen again."
Woods was since named to the PGA Tour Policy Board as a player director and has been involved in negotiations with a Dec. 31 deadline looming.
"I'm pleased at the process and how it's evolved," Woods said. "Also frustrated in some of the slowness and the governance change that we want to have happen. And December 31st is coming up very quickly, so there's the timetable there that we would like to implement some of these changes that have not taken place.
"The guys, all the player directors have spent so many hours and worked tireless hours to make sure that we have the best deal for all the players that are involved, the entire PGA Tour."
Woods admitted there is much work to be done and that the deadline could be extended.
He also touched on the myriad possibilities for the new entity known as PGA Tour Enterprises, which will be a for-profit entity separate from the non-profit PGA Tour.
Woods also made it clear that he believes the PGA Tour as it exists needs to be protected, no matter how this deal comes about—but is unclear on what form a new venture would take.
"I would say that the answer is murky," Woods said. "I would have to say there's a lot of moving parts on how we're going to play. Whether it's here on the PGA Tour or it's merging, or team golf. There's a lot of different aspects that are being thrown out there all at once and we are trying to figure all that out and what is the best solution for all parties and best solution for all the players that are involved."
Woods acknowledged this is a big task. Whether it’s the PIF investing multi-millions into the for-profit LLC or private equity firms—as the Tour has acknowledged negotiating with—or a combination of all of them, there is a new concept that needs to be formed that would allow for the players to benefit while also allowing these companies to profit.
Jordan Spieth, who replaced Rory McIlroy on the policy board, would not say if he wanted a deal with the PIF but acknowledged it would be up to the players and would come with stipulations he’s unclear the PIF would meet. All of which makes the situation all the more unclear.
Woods did not mention LIV Golf specifically, but he did without prompting acknowledge team golf as one of the possibilities. The LIV Golf League is playing on in 2024, with a 14-event, 12-team schedule. How it fits into anything new is among the many questions that have no answers at this point.
"Everyone involved wants a return, that's just part of doing deals, but we have to protect the integrity of our Tour and what that looks like and what that stands for going forward," Woods said. "That is trying to figure all that out in the past few months has been a very difficult task.
"There are a lot of different options, a lot of different parts that are moving, trying to get a deal done whether it's from all different types of money, what that looks like. But we have to protect what the Tour is for the players."
Asked if he was confident a deal would get done by the deadline, Woods said:
"I am confident a deal will get done in some way. Whether that comes December 31st or is pushed back—all sides understand we're working together. There are no lawsuits. Everyone's understanding what that looks like and we're all progressing going forward. Everyone's working right now with no animosity. We're trying to work to try and get a deal done for the Tour and for all parties involved."