Hours before the PGA Tour Policy Board was set to hold a meeting Tuesday in Detroit, presumably to advance its pending agreement with the DP World Tour and Saudi Arabia’s Public Investment Fund, copies of the bombshell framework agreement between the parties were obtained late Monday by multiple media outlets, including Global Golf Post.
The five-page agreement, signed May 30, one week before it was announced, reconfirmed the basics of what PGA Tour commissioner Jay Monahan and PIF governor Yasir Al-Rumayyan said when they announced the unexpected alliance on CNBC – essentially establishing a plan to join forces and drop all pending lawsuits, which has been done.
There are, however, few details in the letter regarding the proposed final product. According to the letter, the parties have until December 31, 2023 to finalize their agreement.
It is broad and necessarily vague, citing “definitive agreements” that likely are being hammered out. The agreement does state that “PIF, the PGA Tour, and the DP Worl...
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