Results for: PGA Tour Enterprises

The PGA Tour has begun distributing $930 million in equity shares to 193 players who have remained loyal to the tour despite the allure of Saudi-backed LIV Golf. The equity program is part of a new initiative called PGA Tour Enterprises, which has received a $1.5 billion investment from Strategic Sports Group and is in negotiations with the Public Investment Fund of Saudi Arabia. The majority of the equity shares ($750 million) have been allocated to 36 top-performing players based on their career achievements and star power. While the specific amounts received by individual players have not been disclosed, reports suggest that Tiger Woods and Rory McIlroy may have received $100 million and $50 million respectively. The equity program is intended to incentivize players to stay with the PGA Tour and recognize their contributions to the growth and success of the tour. Additionally, $600 million in recurring equity grants have been set aside for future PGA Tour players, beginning in 2025.

Tiger Woods and Rory McIlroy, along with other PGA Tour stars, will receive substantial equity bonuses as incentives to remain with the tour. Woods will receive $100 million, while McIlroy will earn approximately half that amount. The payouts aim to express gratitude for their commitment amid the lure of rival LIV Golf and its lucrative Saudi Arabian funding. The bonuses will be distributed among several hundred players, with the top 36 players receiving the majority based on a formula considering career achievements and popularity. PGA Tour Enterprises secured a $3 billion investment earlier this year from Strategic Sports Group, a collaboration of sports owners including Steve Cohen and Arthur Blank.

Four-time major champion Rory McIlroy will return as a player director on the PGA Tour’s policy board and take a seat on the board of PGA Tour Enterprises. McIlroy had stepped back from the policy board in November following the PGA Tour’s tussle with LIV Golf. The move comes as the PGA Tour continues to negotiate a merger agreement with LIV’s financiers, the Saudi Public Investment Fund (PIF). McIlroy’s return could fuel hope that a deal can move forward.