PGA Tour Policy Board Says It's 'Begun New Phase of Negotiations' With Saudi Public Investment Fund

Following a players'-only meeting on Tuesday, the Policy Board said it will be part of the approval process as the new agreement with LIV Golf takes shape.

The PGA Tour held a players'-only meeting on Tuesday at the Rocket Mortgage Classic. After its conclusion, the Tour's Policy Board released the following statement regarding its agreement and future partnership with the Saudi Public Investment Fund:

“Entering the Framework Agreement put an end to costly litigation. Management, with input from our Player Directors, has now begun a new phase of negotiations to determine if the TOUR can reach a definitive agreement that is in the best of interests of our players, fans, sponsors, partners, and the game overall. That was the focus of our productive Policy Board meeting this afternoon, with valuable and crucial input and perspective from the membership through our Player Directors.

“If future negotiations lead to a proposed agreement, it would need approval by the TOUR’s Policy Board, which includes Player Directors. In the meantime, we are all committed to the safeguards in the Framework Agreement that ensure the PGA TOUR would lead and maintain control of this potential new commercial entity. We are confident that the TOUR’s mission will continue to focus on showcasing the game of golf while serving local communities.”