Tiger Woods and Jay Monahan have been promoted to crucial positions in the newly formed PGA Tour entity. They now hold voting positions in the new venture, PGA Tour Enterprises. It was announced on Wednesday that 13 board members were selected for this new formation. Also, the SSG has already vowed to invest $3 billion in PGA Tour Enterprises.
It would control the PGA Tour’s commercial business and rights, as well as those on the DP World Tour. This venture would also help the tour boost its revenue. Now, let’s take a look at the existing positions of Jay Monahan and Tiger Woods in this new venture.
Jay Monahan and Tiger Woods’ Existing Roles In The PGA Tour Enterprises
Monahan was previously declared the PGA Tour Enterprises CEO, and now he has voting right. On the other hand, Woods became the vice chairman of the board. The 15-time major winner got the position as a result of the petition given by the players to the board to keep things transparent about the PGA Tour’s affairs.
As per ESPN, Monahan stated how the PGA Tour is approaching the business of PGA Tour Enterprises.
“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.”
Added to that, he continued,
“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.”
The tour has gotten nine board seats, and the SSG members have filled up the remaining four seats. Six of the nine seats were given to the six-player directors, and Joe Ogilvie was named director liaison to join the new entity. Jay Monahan and Joe Gorder got the final positions.
The tour no longer depends on the PIF financially and can let the PIF know of any future needs. Right now, both parties, PIF and the PGAT are in talks, and some decisions will come up by April regarding the framework agreement.
