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Rory McIlroy isn’t in the field at this week’s Rocket Mortgage Classic, but he was in Detroit on Tuesday anyway for a PGA Tour Policy Council meeting about a proposed tour agreement with Saudi Arabia’s Public Investment Fund (PIF).
Sports Illustrated reports A “person familiar with the discussion” revealed that the PGA Tour’s 10-person Policy Board met in person in Detroit to discuss the details of the deal, including McIlroy and fellow players Patrick Cantlay, Webb Simpson, Charlie Hoffman and Peter Malnati. Guy Monahan was not present, but in his place were “Chief Operating Officer Tyler Dennis and Chief Operating Officer Ron Price, who are leading the tour in Monahan’s absence.”
The meeting comes just a day after the confidential framework agreement between the Tour, PIF and DP World Tour was leaked, which, among other things, outlined how the PGA Tour would maintain the controlling interest of the new umbrella company while it accepted it. New investments from the Public Investment Fund.
After the meeting, the PGA Tour issued a statement saying that the focus of Tuesday’s meeting was on starting “a new phase of negotiations to determine whether the tour can reach a final agreement that is in the best interest of our players, fans, sponsors, and the game in general.”
“If future negotiations lead to a proposed agreement, it will need to be approved by the Tour Policy Council, which includes the player managers. In the meantime, we are all bound by the safeguards in the Framework Agreement that you will lead the PGA Tour and maintain control of this potential new business entity. We are I am confident that the tour’s mission will continue to focus on showcasing golf while serving local communities.”
Whether the round’s policy board can create and approve a final agreement with the PIF, the deal faces significant headwinds, in the form of a review by the US Department of Justice, Congress and potential European regulators given DP World’s involvement. .
You can read all about the top seven finds from the leaked tour agreement with PIF and the DP World tour here.