Tiger Woods (above) is happy he can help craft a new, lucrative future for the PGA Tour by heading up negotiations with LIV Golf’s financial backer, the Public Investment Fund of Saudi Arabia. But he won’t deny that the job at hand is daunting.
“I never would have foreseen myself doing this, no,” Woods said during his press conference Tuesday ahead of the Open Championship, which tees off Thursday at Royal Troon Golf Club. “It’s a lot of work. It’s enjoyable in the sense that I’m able to help the Tour and I’m able to help the next generation of players.”
The PIF is exploring a potential $3 billion investment that would give the Saudi fund an ownership stake in the newly formed for-profit entity, PGA Tour Enterprises, alongside the Strategic Sports Group.
Oh Captain, My Captain
Last week, Woods cited his ongoing off-course duties as a primary reason for turning down the chance to captain Team USA at the 2025 Ryder Cup. “I couldn’t devote the time,” he said Tuesday. “I barely had enough time to do what I’m doing right now, and add in the TGL [that] starts next year, as well as the Ryder Cup. You add all that together and then with our negotiations with the PIF, all that concurrently going on at exactly the same time, there’s only so many hours in the day.”
While Woods said he’s grateful to have a way to give back to the game besides playing, it’s still a different kind of grind. “Yes, there are days I wish I had a sand wedge and I had a driver out and I was out hitting golf balls instead of sitting in the three-hour subcommittee meeting,” he said.
Time Will Tell
Woods once again said progress is being made in the PIF talks, reiterating his stance from last month’s U.S. Open. “We all want the same thing,” he said at Pinehurst.
Now, the main focus is complying with DOJ oversight and making sure both sides are set up to succeed financially. “They want to make money as well,” Woods said of the PIF. “They want to make that return. We’re now into not just charitable endeavors, we’re into a for-profit model. So we have to make returns.”
Lifetime Achievement
In June, the PGA Tour announced a new special exemption for Woods that will qualify him for signature events, which this year had limited, 72-player fields and $20 million purses. Woods appreciates the gesture, but he wanted to clarify he won’t be taking anyone’s spot at future tournaments. “If I want to play, I’ll be the 73rd player,” he said.
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