Fresh turmoil for PGA Tour as PIF deal-broker quits

The PGA Tour has been thrown into fresh turmoil after the man largely responsible for attempting to broker peace in golf’s civil war quit yesterday.

Jimmy Dunne has resigned from the tour’s board in frustration over a lack of “meaningful progress” in turning the framework agreement, unveiled to much fanfare and shock last June, into an actual deal between the tour and the Public Investment Fund of Saudi Arabia.

In a letter obtained by Sports Illustrated, Dunne described his position as “utterly superfluous” ever since players seized control of the PGA Tour board and cut him out of negotiations with the PIF and its governor Yasir Al-Rumayyan.

Dunne had worked behind the scenes to convince Al-Rumayyan to invest more than a billion dollars into a new, for-profit entity called PGA Tour Enterprises, and drop litigation against the tour.

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The agreement also stipulated that Al-Rumayyan would become chair of the new organisation and that PIF would receive one seat on the tour’s policy board.

However, since that framework agreement was announced, the tour has secured funding from a consortium of American businesses. And whilst it has maintained, publicly at least, an intention to continue to find common ground with PIF, both the original and subsequent deadlines imposed on the framework agreement have come and gone with no deal.

Speaking to reporters ahead of the PLAYERS Championship in March, PGA Tour commissioner Jay Monahan refused to be drawn on specifics of the negotiations but insisted that “negotiations are accelerating”.

However, Dunne – a close friend of Rory McIlroy – has cast doubt on that with his bombshell resignation.

“When I arrived on the Board in January 2023, everybody involved with the game was concerned about the fundamental threat of LIV Golf,” he wrote. “They were successfully luring away some of our top players, including several major champions.

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“It was clear that the fracture would greatly damage our game and the Tour. On top of that, the tour was engaged in burdensome litigation that was expensive, unwelcome, and uncertain.

“As directed by Commissioner Monahan, I engaged LIV’s majority owner, the Public Investment Fund, to see if we could end the lawsuits and reunify the game. Importantly, we were able to come to an agreement in which the lawsuits were dismissed with prejudice and a path was created for the Tour to remain in control of professional golf.

“Since there was no exclusivity clause, the players had a full range of options to seek outside investors. That resulted in a multi-billion-dollar commitment from the Strategic Sports Group.

“I believe that history will look favorably on this outcome and the very real opportunities now afforded the Tour.”

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He added: “I have not been asked to take part in negotiations with the PIF since June 2023. During my testimony at the Senate hearing, I said it was my intention to cast my vote alongside the Player Directors if a final agreement was reached with the PIF.

“Since the players now outnumber the Independent Directors on the Board, and no meaningful progress has been made towards a transaction with the PIF, I feel like my vote and my role is utterly superfluous.

“It is crucial for the Board to avoid letting yesterday’s differences interfere with today’s decisions, especially when they influence future opportunities for the Tour.

“Unifying professional golf is paramount to restoring fan interest and repairing wounds left from a fractured game. I have tried my best to move all minds in that direction.”

Michael McEwan is the Deputy Editor of bunkered and has been part of the team since 2004. In that time, he has interviewed almost every major figure within the sport, from Jack Nicklaus, to Rory McIlroy, to Donald Trump. The host of the multi award-winning bunkered Podcast and a member of Balfron Golfing Society, Michael is the author of three books and is the 2023 PPA Scotland 'Writer of the Year' and 'Columnist of the Year'. Dislikes white belts, yellow balls and iron headcovers. Likes being drawn out of the media ballot to play Augusta National.

Deputy Editor