Jay Monahan on investor offers: We are focused on the deal with PIF

"The opportunity to potentially participate in the transformative growth of the PGA Tour for the first time brought forth dozens of inbound prospects"

by Sead Dedovic
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Jay Monahan on investor offers: We are focused on the deal with PIF
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PGA Tour's Jay Monahan reaffirms commitment to Saudi Arabia's PIF deal amid multiple investor offers. Despite a quieter period, the deal's still in progress, but hitting the self-imposed December 31 deadline seems improbable.

Monahan assures players it remains the Tour's key focus. Monahan is currently focused only on the agreement with PIF and DP World Tour. However, the offers that are coming are sure to arouse interest.
“We continue to remain focused on our negotiations toward a Definitive Agreement with PIF and the DP World Tour as our priority.

Progress has been deliberate given the complex nature of the potential agreement, and we will keep you apprised of the progress, with continued input and direction from your Player Director and player advisor Colin Neville.

Additionally, as you know, the Framework Agreement with PIF and the DP World Tour generated unsolicited—although not surprising—interest from numerous outside potential investors," he said.

Jay Monahan on the opportunity

Monahan sees this as a golden chance for the PGA Tour to take a big step forward.

He's excited about the possibility of making some serious progress in the right direction.
"The opportunity to potentially participate in the transformative growth of the PGA Tour for the first time brought forth dozens of inbound prospects, which were all initially vetted by the Tour’s investment bank, Allen & Company." The PGA Tour is still the biggest name on the golf scene, so it's no wonder where so many offers come from.

Monahan is happy about that, but ultimately they want to make the best decisions that will be important for the future of the PGA Tour. “Many of those prospects moved forward to a diligence review—with Tour Management and Allen & Company working together with the potential minority investors’ representatives—and we then received significant, formal proposals that demonstrate the power of the PGA Tour brand, its player and our commercial opportunity”.

Source: Golfmonthly

Jay Monahan Pga Tour
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