Players who have remained loyal to the PGA Tour amid the lucrative recruitment efforts of Saudi-funded LIV Golf are starting to see the financial rewards of their decision. The PGA Tour has begun distributing $930 million in equity shares to 193 eligible players under its new Player Equity Program, which is part of the newly formed PGA Tour Enterprises.
The bulk of the equity, $750 million, has been allocated to 36 top-performing players based on their career achievements, the last five years of performance, and their star power. The specific amounts received by individual players have not been disclosed, but it is believed that Tiger Woods and Rory McIlroy may have received $100 million and $50 million, respectively.
The Player Equity Program is designed to incentivize players to stay with the PGA Tour and recognize their contributions to the growth and success of the tour. In a memo sent to players in February 2023, Commissioner Jay Monahan emphasized that the program is about “making sure that our players know the PGA Tour is the best place to compete and showing them how much the Tour appreciates them being loyal.”
In addition to the top-tier equity shares, $75 million has been allocated to 64 players based on their performance over the past three years, and $30 million has been distributed to 57 players who are current PGA Tour members. The program also includes $75 million in equity shares for 36 past players who have made significant contributions to the tour.
Furthermore, the Player Equity Program includes an additional $600 million in recurring equity grants that will be awarded to future PGA Tour players beginning in 2025. These grants will be awarded in amounts of $100 million annually.
While the equity program is intended to make the PGA Tour more attractive to players and incentivize them to stay with the tour, there are concerns about the distribution of shares and whether players will feel they have received a fair portion. LIV Golf has lured away several top players with guaranteed contracts, and some players may question whether they would have been better off joining the rival tour.
Rory McIlroy, who is playing in the Zurich Classic of New Orleans this week, was asked how much money would make players feel validated for their decision to stay with the PGA Tour. “I think the one thing we’ve learned in golf over the last two years is there’s never enough,” McIlroy replied.
