PGA Tour commissioner Jay Monahan discusses the recent investment in the tour by the Strategic Sports Group (SSG) and the creation of the PGA Tour Enterprises in addition to the future of golf. #GolfChannel #PGATour #JayMonahan
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Jay Monahan believes negotiating with PIF is ‘best outcome’ | Live From The Players | Golf Channel
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DISCUSSION. HE’D BE THE HARDEST ONE TO CONVINCE. >> JAY, YOU SAID EARLIER THAT THE TALKS OF THE PUBLIC INVESTMENT FUND HAS ACCELERATED. DOES THE SSG INVESTMENT MAKE THE TALKS MORE DIFFICULT IN ANY WAY? DID THEY STALL THEM? IS THERE ANYTHING ON THEIR SIDE THAT MAYBE CAUSED PAUSE AND
THAT’S WHY YOU THINK THIS IS GOING TO TAKE A WHILE? >> NO, LISTEN, SSG — AS WE WENT THROUGH THAT PROCESS, BOB, THERE WERE A NUMBER OF POTENTIAL INVESTORS. AND WE MADE THE DECISION ON DECEMBER 7th AS A WORD UNANIMOUSLY TO MOVE FORWARD WITH SSG.
IT WAS IMPORTANT FOR SSG AND IT WAS IMPORTANT FOR THE TOUR TO ENGAGE DIRECTLY WITH THE PIF, PRIOR TO FINALIZING ANY DEAL WHICH IS WHY, YOU KNOW, I JOINED PRINCIPALS FROM SSG ON A TRIP TO SAUDI ARABIA TO MEET WITH YASER AND MEMBERS OF PIF AND THAT’S
WHY WE CONTINUE TO HAVE DISCUSSIONS. THERE’S A MUTUAL RESPECT THERE, IT’S HELPFUL TOWARDS ULTIMATELY GETTING A DEAL DONE. I THINK IT’S THAT LEVEL OF DISCUSSION THAT HAS HELPED ACCELERATE THE CONVERSATION. THAT TRIP WAS IN JANUARY. >> JAY, YOU SAID TO ANDREW ROSS
SORKIN IN NOVEMBER THAT IT WAS THE BEST DECISION FOR THE ORGANIZATION TO COMPLETE A DEAL WITH PIF. DO YOU STILL BELIEVE THAT? AND HOW DOES THAT BALANCE AGAINST THE DECISION YOU MADE TO GO AHEAD AND DO A DEAL WITH SSG? >> I DO — I DO BELIEVE THAT
NEGOTIATING A DEAL WITH PIF IS THE BEST OUTCOME. AND OBVIOUSLY, IT HAS TO BE THE RIGHT DEAL FOR BOTH SIDES, LIKE ANY SITUATION, OR NEGOTIATION. THE CONVERSATIONS WITH SSG, FOR THE REASONS I JUST SAID, ALEX, I THINK HAVE ENHANCED THE LIKELIHOOD OF US REACHING A SUCCESSFUL CONCLUSION.
WHEN YOU BRING IN A GROUP OF INVESTORS ON THAT CONSORTIUM, THAT COMBINED HAVE OVER 200 YEARS OF MANAGING PROFESSIONAL SPORTS FRANCHISES IN THE U.S. AND INTERNATIONALLY, AND YOU BRING IN THAT LEVEL OF EXPERTISE, I THINK THAT THAT, YOU KNOW, IS ATTRACTIVE TO THE PIF.
AND I THINK THAT WE ALL — WHEN YOU STEP BACK FROM THAT, AND YOU JUST LOOK AT, YOU KNOW, LOOK AT WHERE WE ARE. FOR SOME OF THE REASONS I STATED EARLIER. WITH THE GAME BOOMING, BECOMING COOLER. BECOMING MORE MAINSTREAM, IT’S TRULY GLOBAL, THERE ARE FINITE
NUMBER OF ATHLETES. AND THIS IS THE POINT IN TIME, UNIQUE POINT IN TIME, WHERE UNIFICATION ULTIMATELY PUTS THE SPORT IN THE BEST POSSIBLE CONDITION TO TAKE ADVANTAGE OF THIS GROWTH ON A GO-FORWARD BASIS. AND THE PGA IS THEN LIMITED IN OUR ABILITY TO INVESTMENT INTO
SOME OF THOSE OPPORTUNITIES. WE NO LONGER ARE WITH THE FORMATION OF PGA TOUR ENTERPRISES. AND I THINK AN ULTIMATE DEAL WOULD BE IN THE BEST INTEREST OF THE GAME, AND ULTIMATELY, WOULD BE IN THE BEST INTEREST — IF IT CAN BE DONE. THAT’S THE SPIRIT AT WHICH WE
APPROACH THE CONVERSATIONS AND NEGOTIATIONS. >> JUST TO FOLLOW UP, I UNDERSTAND IT’S A CLOSED LOOP AMONGST THE PEOPLE THAT CAN TALK ABOUT THIS. BUT WHEN WE TALKED TO YOUR PLAYERS WHO ARE NOT PART OF THE POLICY BOARD, MANY OF THEM FEEL
THAT THEY DON’T WANT TO SEE PLAYERS FROM THE OTHER SIDE COME BACK. THAT’S OBVIOUSLY AN IMPORTANT PART OF THIS DISCUSSION. IF THE PLAYERS ARE FEELING THAT WAY, HOW CAN YOU STILL GET A DEAL DONE? >> WELL, BALANCE IN THE INTEREST OF THE MEMBERSHIP IS 200-PLUS PLAYERS.
YOU KNOW, IT’S COMPLICATED AND IT’S CHALLENGING. AND WE’RE FORTUNATE TO HAVE A GROUP OF PLAYER DIRECTOR AND STRONG COUNCIL WITH A STRONG SYSTEM IN PLACE. WE’RE ULTIMATELY, AS WE GO FORWARD AND WE MAKE MORE PROGRESS, OUR PLAYER DIRECTORS REPRESENT OUR MEMBERS. THEY’RE DOING AN EXCEEDINGLY
GOOD JOB OF DOING JUST THAT. AND I THINK WHEN YOU’RE IN A NEGOTIATION LIKE THIS, AND YOU’RE IN A TIME LIKE THIS, IT REQUIRES OPEN MINDEDNESS. IT REQUIRES FLEXIBILITY AND A LONG-TERM VIEW AND LONG-TERM VISION. THAT’S WHAT WE CONTINUE TO TRY,
WE PUSH OURSELVES FOR THAT TO BE ON OUR MIND-SET. BUT HOWEVER WE END UP, I THINK THAT WE’RE NOT ABLE TO SATISFY EVERYONE THAT GOES FOR BOTH SIDES. BUT WHAT WE’RE TRYING TO DO IS TO GET TO THE BEST
