Golf: PGA Tour board member resigns amid 'concerns' over merger with Saudi-backed LIV Golf
Randall Stephenson
PGA Tour's board member Randall Stephenson has resigned over concerns about the proposed merger of PGA Tour and Saudi Arabia's Public Investment Fund (PIF). The PIF backs PGA rival LIV Golf and the two bodies announced a merger on June 6.
The news of Stephenson's resignation was reported by The Washington Post on July 10. He had served as one of the ten board members of the PGA Tour for 12 years. The Tour confirmed Stephenson's resignation in a memo to its members, reported The Post.
“I joined this board 12 years ago to serve the best players in the world and to expand the virtues of sportsmanship instilled through the game of golf,” Stephenson said in his letter obtained by The Washington Post. “I hope, as this board moves forward, it will comprehensively rethink its governance model and keep its options open to evaluate alternative sources of capital beyond the current framework agreement.”
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He wanted to resign on June 12, six days after the PGA-LIV merger but stayed on after PGA commissioner Jay Monahan went on medical leave. Monahan would be back from July 17, he announced recently.
The letter by Stephenson, dated July 9, also read that the PGA’s framework agreement with PIF “is not one that I can objectively evaluate or in good conscience support, particularly in light of the USintelligence report concerning Jamal Khashoggi in 2018.”
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Khashoggi, a contributing columnist for the Post, was killed in the Saudi consulate in Istanbul in 2018. He was critical of Saudi crown prince Mohammed Bin Salman, who USintelligence concluded, might have ordered his killing. Prince Salman, however, denies the claim.
The other four independent directors of the board will now vote on thereplacement of Stephenson after consulting with five player members and John Lindert, the PGA of America president - a non-voting board member. There's no timeline to elect the replacement member.
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