In a move that perhaps strengthens Jay Monahan’s future with the PGA Tour and ensures that Tiger Woods will have an increased role in shaping the future of the tour, both men were named to the 13-member board of directors of the newly formed PGA Tour Enterprises on Wednesday.
Woods, a 15-time major champion, joined the PGA Tour’s policy board for the first time in August. He will serve as vice chairman of the board of PGA Tour Enterprises, which will lead all commercial activities related to the PGA Tour and will “focus on fan engagement and growth, as well as developing new media, sponsorship and commercial opportunities,” the tour said in a statement.
Monahan, who is in his eighth year as PGA Tour commissioner, will serve as CEO of PGA Tour Enterprises. The tour said a chairman would be selected at a future meeting.
Monahan has been heavily criticized for the tour’s lack of transparency before it struck a surprising deal June 6 to form a strategic partnership with Saudi Arabia’s Public Investment Fund (PIF) and the DP World Tour. Most players, including player directors on the policy board, didn’t learn of the deal until it was announced.
The framework agreement with the PIF expired Dec. 31 and was extended as negotiations continue. The PIF has financed the rival LIV Golf League the past three years.
Monahan, the PGA Tour’s fourth commissioner, helped secure a potential $3 billion investment from Strategic Sports Group (SSG), a consortium of billionaire owners of sports teams led by Fenway Sports Group. Under the terms of the deal announced Jan. 31, SSG will make an initial investment of $1.5 billion into PGA Tour Enterprises with the possibility of another $1.5 billion coming later. The PGA Tour will control the for-profit company.
Monahan also will become a voting member on the newly expanded 14-person policy board, the tour said.
“Today’s announcement is another milestone for our organization, as I believe we have arrived at a PGA Tour Enterprise’s Board of Directors with the right composition, expertise and balance necessary to take our organization into the future,” Monahan said in a statement.
“Our current and former players will provide essential insight into our members’ priorities and needs. And we welcome key SSG members to the leadership team, whose exceptional track records and achievements in global professional sports will lend a wealth of knowledge into the opportunities ahead for the PGA Tour. Their expertise will undoubtedly play a pivotal role in the success and growth of our commercial initiatives.”
Woods is among six PGA Tour policy board player directors who will simultaneously serve on the PGA Tour Enterprises board. The others are Patrick Cantlay, Peter Malnati, Adam Scott, Webb Simpson and Jordan Spieth.
Former PGA Tour pro Joe Ogilvie will join both boards and will serve as a director liaison. Policy board independent director Joe Gorder also will be on the PGA Tour Enterprises board.
Fenway Sports Group principal owner John W. Henry, Atlanta Falcons owner Arthur Blank, New York Mets vice chairman Andrew B. Cohen and Boston Red Sox president and CEO Sam Kennedy will represent SSG on the PGA Tour Enterprises board.
“Our role on the Enterprises board will focus on hearing player director ideas and working alongside them to ensure the sport’s commercial growth occurs in a way that creates the best possible product for fans,” Henry said in a statement. “All of us at Strategic Sports Group see a bright future for the PGA Tour and the constitution of the Enterprises Board is an important first step in realizing that future.”
