Jordan Spieth has dispelled the idea that he is part of an alliance with Tiger Woods and Patrick Cantlay on the PGA Tour board as the deadline approaches for the Tour to finalize its framework agreement with the Saudi sponsors of Masters champion LIV Golf Jon have lured away Rahm.
Sports illustrated reported that Saudi Arabia's Public Investment Fund (PIF) has indicated its willingness not only to pump $2 billion into the proposed commercial deal as part of the June 6 agreement, but also into an additional $1 billion settlement pool for PGA Tour players who turned down LIV's lucrative financing. offers. It also alleged that Cantlay seized control and led negotiations with Woods and Spieth as part of an alliance to protect the interests of top players. Spieth was recently appointed to complete the term of Rory McIlroy, who resigned last month and often sparred with Cantlay.
“There's no fact to it,” Spieth said. “It's been very collective since I jumped on it. It's not even something. We are looking for the best outcome for the players as a whole, and that is six people (as player directors).”
The tour has until December 31 to finalize its agreement with the PIF. The original agreement plan, announced June 6, stated the deadline could be extended if both sides agreed, although PGA Tour Commissioner Jay Monahan said last week that the end of 2023 was a “firm target.”
Woods' agent declined to comment. Cantlay has chosen not to speak publicly, other than to say he is guided by the responsibility to represent the entire membership. Cantlay, who won the 2021 FedEx Cup and was named PGA Tour player of the year, can often seem distant. He stood out at the Ryder Cup for not wearing a hat, amid reports it was a protest because he wasn't getting paid, which he denied.
Spieth said Cantlay could be an easy target because of his personality. “But he's very smart and he's very measured in everything he says,” Spieth explained. “He doesn't waste words, and that often comes across as demanding. In no way, shape, or form does he have control over anything. He wants objectivity when it turns out that that is not the case. He, like the rest of us, all agrees. We may not agree on how, when and why. But it is our collective duty to represent the players – deal, no deal, multiple partners.”
The multiple partners involve private equity groups that have become part of the negotiations. The tour has narrowed them down, along with negotiations with the PIF, and Acorn Growth and Fenway Sports Group are believed to be the main contenders.
Negotiations became more complicated when Rahm, a PGA Tour loyalist since LIV's inception, announced he had signed with the rival league. Not only was it a big loss for the PGA Tour, it was also a reminder that the PIF has the money to recruit even more players. “I don't think it was about the money for him,” Spieth said. “I think he saw two places where neither was in a great situation right now, and he said, 'You might as well have the money.'”
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Monahan originally planned to meet Yasir al-Rumayyan, the governor of the PIF, this week. That has been postponed until next week, and it was not clear if they would meet again after Rahm's signing. “It's a really nice play by them,” Spieth said of the Saudis. “I think we have the best hand, but they know what our hand is. It's a nice leverage with everything that's going on.”
Among those leading Acorn Growth's bid to invest in the PGA Tour is Randall Stephenson, the retired chairman of AT&T who resigned from the Tour's board in protest of the Saudi deal. Spieth has been an ambassador for AT&T for the past ten years. McIlroy, meanwhile, was affiliated with Fenway Sports Group through its TGL league, which has been postponed until 2025. Woods was appointed to the board four months ago, making it six player directors and five independent directors. The other player directors are Webb Simpson, Charley Hoffman and Peter Malnati.
Spieth said he found the report that Cantlay had taken control of the negotiations “a lot funnier than I think Pat did,” adding: “I believe he has been on the board more for the PGA Tour over the last six months.” has done than anyone since Tiger. That's how great he's been for the membership. It's like he's the biggest problem and it couldn't be further from the truth.”