Memo: No agreement between PGA Tour-PIF; signature event changes for tiger woods, field size

CROMWELL, Conn. – Negotiations with the Saudi Public Investment Fund continue, but an agreement between the PIF and the PGA Tour remains elusive, according to a memo sent to players late Tuesday.

The Tour’s policy council met on Tuesday at the Travelers Championship and despite speculation that a deal with the PIF was imminent, there were no signs of a breakthrough.

“We are making progress,” the memo to the players read. “Two weeks ago, members of our PGA Tour Enterprises transactions subcommittee met in New York with (PIF Governor) Yasir Al-Rumayyan. During that meeting, we reached consensus on several issues, but both sides recognize that there is still work to be done to reach a final agreement.

“Our discussions are ongoing, with the aim of developing a shared vision for the future of professional golf that is competitive and offers players the best global opportunities.”

However, the board approved a number of new initiatives, including a special exception on signature events for Tiger Woods.

“An additional sponsorship exemption will be created to recognize Tiger Woods in his own category as a player who has achieved an exceptional lifetime achievement threshold of 80 (plus) career victories,” the memo said.

Woods played the Genesis Invitational, which he hosts, with a sponsor exemption this year, but the new category creates an exemption for any signature event if he chooses to play.

The board also approved a proposal that would create an alternate roster for signature events to ensure a field size of 72 players. “The alternate list will be created based on the next available players, in order of the Aon Next 10 list, after the commitment deadline on Monday of the tournament week,” the memo said.