Henrik Stenson (C) and other LIV Golf players could have a "pathway" back to the PGA Tour, according to the terms of the proposed union between the golf leagues. File Photo by Peter Foley/UPI |
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June 27 (UPI) -- A framework agreement, detailing a LIV Golf-PGA Tour alliance and obtained by UPI, was among documents sent to the U.S. Senate Permanent Subcommittee on Investigations, which is examining the proposed union.
The PGA Tour forwarded the documents to the subcommittee Monday. The five-page framework agreement was signed by PGA Tour commissioner Jay Monahan, DP World Tour CEO Keith Pelley and Yasir Al-Rumayyan, the governor of the Saudi Public Investment Fund, which finances LIV Golf.
The agreement says that the new golf entity, referred to under the working name "NewCo," will be controlled by a board that has "majority representation" appointed by the PGA Tour.
Agreement terms also state that NewCo will conduct an "empirical data-driven evaluation" of LIV -- the PGA Tour's former rival -- to determine its future and make a "good faith assessment" on benefits of the team golf structure.
The agreement was signed May 30, a week before the competing golf leagues announced plans to merge.
"The framework outlines a future for professional golf under the PGA Tour's leadership that benefits players, fans and the sport," the PGA Tour said in a statement.
"Following the recent resolution of litigation, we're working productively toward a definitive agreement. Any resulting agreement will have to be approved by the full board of the PGA Tour, including our player directors."
New details from the golf agreement, which was announced June 6 and will potentially end two years of legal battles, player disagreements and suspensions, did not reveal much clarity about a pathway for suspended players to return to the PGA Tour.
A section titled "player status" says that those returns are "subject to execution" of the agreement and will be determined as part of a cooperative effort between the PGA Tour, Public Investment Fund and DP World Tour upon completion of the 2023 season.
World No. 7 Cameron Smith, No. 12 Brooks Koepka, No. 47 Patrick Reed, No. 72 Dustin Johnson and No. 87 Phil Mickelson are among the LIV Golf players who defected from the PGA Tour.
Framework agreement details also revealed the creation of a communications committee to "help facilitate a smooth business transition" and manage communications between the Public Investment Fund and golf parties.
Last week, Sens. Richard Blumenthal, D-Conn., and Ron Johnson, R-Wis., members of the subcommittee, invited Monahan, LIV Golf CEO Greg Norman and Al-Rumayyan to testify as part of a hearing examining the parties' agreement merge.
That hearing is planned for 10 a.m. EDT July 11 in the Dirksen Senate Office Building in Washington.
The subcommittee opened its investigation into the LIV Golf-PGA Tour proposal June 12. Sen. Ron Wyden, D-Ore., chairman of the U.S. Senate Committee on Finance, announced another investigation into the PGA Tour-LIV Golf agreement June 15.
The U.S. Department of Justice's Antitrust Division started its investigation into the the PGA Tour last year, and that is ongoing.
The PGA Tour schedule will continue this week with the Rocket Mortgage Classic. That tournament will be held from Thursday through Sunday at Detroit Golf Club. The LIV Golf season will continue with a tournament from Friday through Sunday at Real Club Valderrama in Cadiz, Spain.
