One of the architects behind the PGA Tour's recent deal with Saudi backers, Jimmy Dunne, has resigned from the PGA Tour board. Dunne expressed frustration at being excluded from the new 'transaction subcommittee' responsible for negotiating with the Public Investment Fund of Saudi Arabia.
Dunne, a prominent figure in both Wall Street and golf circles, played a key role in the initial discussions that led to the agreement with the Saudi group. The deal, reached on June 6, resolved antitrust lawsuits that had cost the PGA Tour millions of dollars and brought on Strategic Sports Group as a minority investor.
Following Dunne's resignation, Tiger Woods was appointed to the board, which now consists of six player directors and five independent directors. Dunne is the second independent director to resign since the Saudi deal was announced, with another former chairman, Randall Stephenson, stepping down in July.
The PGA Tour is facing challenges in finalizing a deal with the Saudi group and uniting the sport, which has been divided since the launch of LIV Golf in 2022. The agreement set a deadline for completing the deal by the end of 2023, but progress has been slow.
Despite the setbacks, Dunne highlighted the positive aspects of the agreement, including the dismissal of lawsuits and the opportunity for players to seek outside investors. He emphasized the importance of unifying professional golf to attract fans and heal divisions within the sport.
With Dunne's resignation, the board must now select a replacement in accordance with the tour's bylaws. The ongoing negotiations with the Saudi group and efforts to bring top players together for major events remain key priorities for the PGA Tour.
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