Jordan Spieth looks forward to partnering with Tiger Woods and Patrick Cantlay on the PGA Tour Board of Directors as deadline approaches to finalize framework agreement with LIV Golf’s Saudi backers that poached Masters champion Jon Rahm He dispelled the idea that he was a member of the .
Sports Illustrated reported Saudi Arabia’s Public Investment Fund will pump $2 billion into commercial deals proposed as part of the June 6 agreement, as well as an additional $1 billion for PGA Tour players who turned down LIV’s lucrative offer. He indicated his intention to prepare a dollar equalization pool.
He also said Cantlay has taken control and is pushing ahead with negotiations with Woods and Spieth as part of a partnership to protect the interests of top athletes. Mr. Spieth was recently appointed to end the term on the board of Rory McIlroy, who resigned last month and frequently sparred with Mr. Cantlay.
“There are no facts,” Spieth told The Associated Press by phone Friday. “It’s been very collective since I jumped on board. It’s not even a thing. We want the best outcome for the entire player, and that’s six people (as player directors).”
The tour has until December 31st to complete its agreement with PIF. The agreement, announced June 6, said the deadline could be extended if both sides agreed, but PGA Tour Commissioner Jay Monahan said last week that Dec. 31 was a “firm goal.” ”.
A representative for Woods declined to comment. Mr. Cantlay chose not to speak publicly other than to say he has a responsibility to represent the membership as a whole.
Cantlay, who won the 2021 FedEx Cup and was named PGA Tour Player of the Year, has a unique intelligence.He was conspicuous by not wearing a hat at the Ryder Cup According to reports, it was a protest against unpaid wages.he denied.
Spieth said Cantlay’s personality may make him an easy target.
“But he’s very smart and very careful in everything he says,” Spieth said. “He doesn’t waste a word and often it comes across as demanding.
“He’s not in control of anything in any way, shape or form. He wants objectivity, even when it doesn’t seem to be the case,” Spieth said. “He, like the rest of us, all agree. We may disagree about when, how, and why. But our collective obligation is to agree. , no deal, multiple partners, etc., to represent the players.”
Several partners, including private equity groups, are part of the negotiations. The tour is narrowing down its list of candidates in conjunction with negotiations with PIF, with Acorn Growth and Fenway Sports Group seen as leading candidates.
Negotiations were further complicated when Rahm, a PGA Tour supporter since LIV’s inception, announced his resignation Thursday.Advertisements contracted with rival leagues. This was not only a huge loss for the PGA Tour, but also a reminder that the PIF has the funds to acquire more players.
“I don’t think it was about the money for him,” Spieth said of Rahm. “I think he looked at two places, neither of which were in a great place right now, and said, ‘Maybe it’s better to have the money.'”
Mr Monaghan was originally scheduled to meet with PIF President Yasir Al-Rumayan this week. It was postponed to next week, and it was not clear whether they would meet even after signing Rahm.
“Really great play by them,” Spieth said of the Saudis. “I think we have the best hand, but they know what our hand is. This is a great leverage tool that can be used in any situation.”
Among the leaders of Acorn Growth, which seeks to invest in the PGA Tour, is former AT&T Chairman Randall Stephenson, who resigned from the tour’s board of directors in protest of the deal with Saudi Arabia.
Mr. Spieth has been an ambassador for AT&T for the past 10 years. Meanwhile, McIlroy was associated with Fenway Sports Group through the TGL League, which has been postponed to 2025. Woods was appointed to the board four months ago, bringing the total to six player directors and five independent directors.
Other player directors are Webb Simpson, Charlie Hoffman, and Peter Malnati.
Mr. Spieth said he thought reports that Mr. Cantlay had taken the lead in negotiations were “much crazier than Mr. Pat thought.”
“I believe he’s accomplished more on the PGA Tour in the last six months than anyone since Tiger. That’s how great he’s been for our members,” Spieth said. “It’s as if he’s the biggest problem and that couldn’t be further from the truth.”