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PGA Tour's Commissioner Jay Monahan and the Strategic Sports Group (SSG) rocked the golf world on Wednesday, January 31, after announcing that both entities have reached an agreement involving the creation of PGA Tour Enterprises, with Monahan as CEO of the new organization.
PGA Tour Enterprises is the result of an investment that will initially be $1.5 billion but is expected to reach $3 billion. Jay Monahan's appointment as CEO of PGA Tour Enterprises has been one of the most talked about aspects of the announcement.
The news has gone viral, with fans reacting in every possible way. Some fans are unhappy with the management of Monahan, while others think the exact opposite.
One fan suggested that the players are at a disadvantage because of the deal and even went so far as to suggest that they should've moved to LIV Golf. The user wrote on X (formerly Twitter):
Trending
"Players got screwed… should’ve gone to LIV"
Another fan expressed their unhappiness over Monahan being appointed as CEO and wrote:
"Of course he will. It’s all about HIM!"
Here are a few more reactions from fans online:
The agreement between the PGA Tour and SSG was announced on Wednesday. On the subject, Jay Monahan had this to say via the PGA Tour news service:
"Today marks an important moment for the PGA Tour and fans of golf across the world... partnering with SSG – a group with extensive experience and investment across sports, media and entertainment – will enhance our organization’s ability to make the sport more rewarding for players, tournaments, fans and partners."
John Henry, principal owner of Fenway Sports Group and manager of Strategic Sports Group, said the following (via PGA Tour news service):
"We greatly appreciate the opportunity to join PGA Tour players in this important next phase of the PGA Tour’s evolution. Our enthusiasm for this new venture stems from a very deep respect for this remarkable game and a firm belief in the expansive growth potential of the PGA Tour."
Jay Monahan, PGA Tour Enterprises and the players
PGA Tour Enterprises announced one of its first measures on Wednesday, January 31. The measure aims to guarantee players' participation in the new company. This participation will be facilitated by allowing golfers to become equity holders in the new company.
According to the PGA Tour news service, the Player Directors voted unanimously in favor of the agreement to create PGA Tour Enterprises. The Player Directors are Patrick Cantlay, Peter Malnati, Adam Scott, Webb Simpson, Jordan Spieth and Tiger Woods.
As mentioned earlier, PGA Tour member players will reportedly be given the opportunity to become equity holders of PGA Tour Enterprises and the share of equity will be based on sporting performance. The new entity led by Jay Monahan does not rule out extending this measure to future Tour members.
It was also disclosed that this agreement has no bearing on the negotiations with the Public Investment Fund (PIF) of Saudi Arabia related to the 'framework agreement' between the PGA Tour and LIV Golf. In fact, the report states that SSG is open to the idea of PIF's future participation as an investor in PGA Tour Enterprises.
