Rory McIlroy has resigned from the PGA Tour Board of Governors on Tuesday, an unexpected decision that comes as the circuit tries to finalize a deal to create a new business venture involving Saudi Arabia’s national wealth fund.
McIlroy did not reveal his decision earlier in the DP World Tour Championship in Dubai, although one comment was revealing about his three years on the board during some of the tour’s most turbulent times.
Asked if he liked having a chair at the table, McIlroy said: “Not particularly, no. It’s not what I wanted when I came on the board. But yes, professional golf has changed over the last two years.”
In a statement, the PGA Tour Commissioner Jay Monahan and Board President Ed Herlihy thanked McIlroy for his dedication and commitment over the past five years. “Rory’s vision has been instrumental in helping shape the success of the Tour, and his willingness to voice his opinions has been even more impactful,” they said. “Given the extraordinary time and effort that Rory – and all his fellow player managers – have invested in touring during this unprecedented time of change in our history, we certainly understand and respect his decision to step down to focus on his game and his family”.
The New York Times first reported McIlroy’s resignation. Monahan said in a memo to players early Tuesday that the tour is working to close a deal with Saudi Arabia’s Public Investment Fund and is trying to narrow down offers from several private equity firms that want to invest in PGA Tour Enterprises. to earn The deadline to finalize the tour agreement with the Saudis, an agreement announced on June 6, is the end of the year, though the deadline could be extended.
No player has been more outspoken than McIlroy about the PIF’s financial backing of rival league LIV Golf, which has attracted a string of major champions with huge (fixed starting) fees. McIlroy continued to criticize Greg Norman, general manager of LIV Golf, and criticized some of the younger players who left for LIV for “taking the easy way out.” But he was unaware of Monahan’s secret FIP negotiations in May, along with other top players.
The day after the shock announcement, McIlroy said: “It’s hard for me not to sit here and feel a little bit like a sacrificial lamb.” He also said that day that he had come to terms with Saudi involvement in other sports, and that it would probably be in the Tour’s interest to be a partner as long as it was done the right way. Last week, without going any further, he said he hoped the PIF would participate in the tour agreement “and we can get back to unity in golf.”
Players do not receive fees for serving on the Board, and McIlroy became involved in the tour business at a difficult time. He served on the PAC in 2019 and 2020, the latter right in the middle of the COVID-19 pandemic and the tour of finding a way to keep the circuit going. Even before LIV Golf was created, McIlroy was the first to say he wasn’t interested in a new league, stating he wanted to be “on the right side of history.”
McIlroy is also involved in TMRW Sports with Tiger Woods, a media and entertainment company behind the new technology TGL golf league, which will launch in January.
The five remaining player-managers on the 12-member board will choose a successor to serve out McIlroy’s term, which ends after next year.
Source: La Verdad
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