With Architect of the ‘Framework Agreement’ Gone, PGA TOUR-PIF Merger Looks Cloudy

The resignation of Jimmy Dunne from the PGA Tour policy board shed plenty of light on the current state of negotiations between PGA Tour Enterprises and Saudi Arabia’s Public Investment Fund (PIF).

Jimmy Dunne Resigns from PGA Tour Policy Board Citing Lack of Movement on PIF Merger

Dunne was the man who got the ball rolling by meeting with PIF governor Yasir Al-Rumayyan after sending him a message on WhatsApp. That led to the framework agreement last June.

Dunne, however, hinted that all progress towards finalizing the agreement by the original deadline of Dec. 31, 2023, stopped once players held the majority on the policy board.

Players were largely upset when the deal went through last June for being in the dark while the secret negotiations took place. When Tiger Woods was added to the board last August, it was seen as a move by PGA Tour commissioner Jay Monahan to appease the players.

Dunne said that with no say on the committee negotiating directly with the PIF, he felt his position was superfluous:

Just talked to Jimmy Dunne, who resigned from the Tour's Policy Board this evening. “There's a group that decides things and I’m not in it and I’m not consulted.” Was referring to the board of the for-profit entity PGA Tour Enterprises. “I’m superfluous. It’s time to move on.”

— Eamon Lynch (@eamonlynch) May 13, 2024

From reports that surfaced in recent weeks, the speculation is that Woods and fellow board members Patrick Cantlay and Jordan Spieth are not in any hurry to make a deal. Rory McIlroy, who resigned from the PGA Tour policy board last November, is said to be more in favor of getting a deal done. While he was not able to re-take a seat on the board, he was added to the committee to negotiate with Al-Rumayyan.

I’m dubious that Jimmy Dunne exits if Rory is allowed back on the board. Maybe this has been brewing and he still leaves, but the timing feels a lot like, “you don’t want my guy, fine, I’m out as well.”

Also cannot believe I’m writing this sentence during a major week.

— Kyle Porter (@KylePorterCBS) May 13, 2024

As Kyle Porter of CBS points out, with this being PGA Championship week, it will be interesting to hear from the likes of Woods, McIlroy, Cantlay, LIV Golfers Jon Rahm, and defending champion Brooks Koepka about this latest development in what is close to a year-long saga now.

But what isn’t positive for golf is that the focus should not be on Tuesday and Wednesday during the week of a major. This also begs the question of whether a final agreement will be made since Dunne indicated that there hasn’t been any meaningful progress in the negotiations over four months after the original deadline was extended.

Cover Image via Golf Magazine