In June, the PGA Tour announced a surprising partnership with the Public Investment Fund of Saudi Arabia — backers of the rival LIV Golf circuit that attracted many top players last year.
After Sunday’s final round of the Tour Championship ends the FedEx Cup Playoffs — and thus the 2022-23 season — the PGA Tour enters a new, uncertain era.
Before the tournament, PGA Tour commissioner Jay Monahan said he was “certain” a definitive agreement would be reached with the PIF. But there are growing questions about completing the deal before the December 31 deadline – sources told Front Office Sports that progress is slow.
Monahan and other Tour officials repeatedly pointed to ongoing negotiations when asked for details on what the future might look like.
“I’m not going to talk publicly about them until we complete those discussions and I can answer that question specifically and directly,” Monahan said at his annual “State of the Tour” press conference.
What To Watch
In Atlanta, Monahan would not commit to allowing the banned players back on the PGA Tour in 2024. But if and when they are accepted again, the Tour will certainly try to make the most of the controversy, which will shock TV.
“We’re thinking about everything now, in terms of formats and how to put it together,” PGA Tour chief media officer Rick Anderson told Front Office Sports. “We will look at the short and medium term, but we will also think about the long term. What is the value of introducing teams to our sport?”
LIV Golf currently airs on the CW, but if the PGA Tour creates any new competitions after the merger, it is expected that media partners CBS, NBC, and ESPN will have the rights. Anderson said any potential additions to the Tour calendar would almost certainly fall within the scope of current media contracts.
PGA Tour viewership is up 3% on NBC broadcasts this year, with Golf Channel telecasts (early round and weekend lead-in coverage) up an additional 9%. ESPN+ also saw gains, as PGA Tour Live remained the most-watched content on the streaming platform. CBS, which broadcasts the Tour Championship, did not release final season numbers.
Longtime media consultant Patrick Crakes does not expect the PIF deal to have a negative impact on the TV product. “I don’t understand from any of them — golf’s media partners — that they see this as something that changes their perspective about their investment,” Crakes said.
Golf’s New Landscape
When the 2024 PGA Tour begins in January — the Tour monitors wildfires in Maui, site of the season-opening event — the top players will navigate a unified schedule that will include eight Signature Events that has a $20 million purse, plus four majors. , Players Championship, and FedEx Cup Playoffs. LIV has yet to announce the 2024 schedule, but the 2023 season began in February.
“There are incentives now for signature events for everyone to show up because the FedExCup points are higher,” Rory McIlroy explained. Scottie Scheffler called them a “great reward” for players who qualified by finishing in the top 50 last year.
This is an evolution of the “designated events” structure that started this year, because many tournaments with big money, no cut offered players a sense of security amid the threat of LIV.
PGA Tour president Tyler Dennis told FOS that the framework agreement with the PIF has no effect on the 2024 schedule. But if the Tour reaches a definitive agreement with the PIF as planned, it appears that the all scenarios could be on the table for next season – and certainly for 2025 and beyond.