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Rory McIlroy appointed to a new subcommittee working on the PIF deal

Tiger Woods, Rory McIlroy and Adam Scott are key players in a new PGA Tour subcommittee designed to negotiate with Saudi Arabia’s Public Investment Fund.

In a subsequent announcement Thursday evening, the PGA Tour said Valero executive chairman Joe Gorder will be the first chairman of PGA Tour Enterprises. Gorder also works on the so-called Transaction Subcommittee, “which has been directly involved in negotiations with the Public Investment Fund (PIF),” according to the tour.

The subcommittee also includes PGA Tour Commissioner Jay Monahan; Joe Ogilvie, a former professional golfer turned money manager who serves as “liaison director” for the tour; John W. Henry of Fenway Sports Group, a key part of the Strategic Sports Group (SSG) investor in PGA Tour Enterprises; and Woods, McIlroy from Northern Ireland and Scott from Australia.

McIlroy recently saw a return to the PGA Tour policy board after resigning as player director in November. Webb Simpson reportedly asked McIlroy to take his seat, but after encountering resistance to the plan, Simpson opted to serve out his term, while McIlroy was moved to another role to facilitate the PGA Tour’s ongoing negotiations with the Saudis to help.

“I’ve already called that group, I actually zoomed with those guys for an hour and a half on Sunday,” McIlroy told reporters Thursday after his first round at the Wells Fargo Championship. “We went through a 150-page document about the future product model and all that.

“Yes, I am not on the board, but I am involved in that transaction committee in some way. I don’t have a voice, so I don’t have a – you know, I don’t have a meaningful voice, I guess. in what happens in the future, but at least I can – I feel like I can be helpful on that committee, and that was kind of a compromise, because I don’t think I’m going to get a seat on the board.

While the PGA Tour is working with SSG – a consortium of US-based sports owners – to invest in the tour’s new for-profit wing called PGA Tour Enterprises, the tour is still trying to strike a deal with the PIF, which will provide funding for the LIV Golf Circuit.

“Having witnessed the PGA Tour’s profound impact at the Valero Texas Open, I have seen firsthand how deeply the tour connects with communities and ignites its passionate fan base,” Gorder said in a press release. “My dedication to this organization and my optimism about what lies ahead are shared by all board members. Together with our player directors, we understand that fans rely on us to be actively involved in the PIF and to pursue other investment and innovation opportunities that benefit everyone – fans, players and sponsors, we are all committed to making this happen.”

In a statement, Woods called the work “well underway” and said Gorder “has the experience and vision to help us realize all that this organization can achieve in the future.”

— Field-level media