🏌️♂️ “Hole-in-One or Double Bogey? Randall Stephenson Walks Away from PGA Over Controversial Saudi Merger” 🌍⚠️
TL;DR; 😲 Randall Stephenson, ex-AT&T boss and PGA policy board member since 2012, has said ‘nope’ to continuing his role following the PGA Tour’s proposed partnership with the Saudi Arabian Public Investment Fund (PIF) and LIV Golf. His exit, announced via a letter, emphasized his “serious concerns” about the deal, specifically due to the 2018 U.S. intelligence report on Jamal Khashoggi. The controversial merger, which has the golfing world doing a double take, is under investigation by a congressional subcommittee. Questions swirl: is this just a bad tee shot or is golf heading into a sand trap? 🤷♂️⛳
Now to the full scoop. In the elite world of golf, more than birdies and bogeys are making headlines. Recently, Randall Stephenson, former AT&T bigwig and member of the PGA Tour policy board, put his foot down and bounced. Why? He simply couldn’t back the PGA’s merger with the Saudi-backed LIV Golf. Apparently, deep pockets can’t buy everything, right? 😅💰
Stephenson, who retired from his CEO post at AT&T in 2020 and has been sitting pretty on the PGA Tour’s policy board since 2012, didn’t exactly ghost in the middle of the night. Instead, he put pen to paper, voicing his objections to the merger in a formal letter. The deal, he claimed, wasn’t one he could “objectively evaluate or in good conscience support.” And it wasn’t just about the dollars and cents, but also due to the U.S. intelligence report concerning the murder of journalist Jamal Khashoggi in 2018. If that doesn’t make you pause and reconsider, what would? 🤔💔
This isn’t just any merger, folks. We’re talking about a real game changer, bringing together the PGA Tour, the European tour, and PIF-funded LIV Golf. Unveiled on June 6, this merger sent shockwaves through the golf world, ending the rivalry between the two leagues, but trading it for a whole new level of confusion and outrage. Talk about a plot twist, eh? 🎭⛳
Sure, the deal still has to be signed off by the PGA Tour board and it’s even under a congressional subcommittee investigation. But that didn’t make it any less shocking, right? So much so that the PGA Tour COO Ron Price and policy board member Jimmy Dunne will be put on the hot seat by the Senate Permanent Subcommittee on Investigations. Bet they didn’t expect that when they signed up for a board position, huh? 😲🔍
Despite Stephenson’s departure, the PGA Tour policy board, with 10 members – five players and five independent directors – rolls on. Will the remaining four independent directors find a replacement for Stephenson? Will they consult with the players and PGA of America president John Lindert? We’re all waiting to see how this plays out.🧐🍿
But here’s the kicker – Stephenson had planned to resign earlier, on June 12, soon after the deal went public. However, he stayed a little longer after PGA Tour commissioner Jay Monahan took a leave of absence for health reasons. So, is it just about the Saudi deal or is there more than meets the eye? 🕵️♀️
And now, the ultimate question: With this move, is golf edging towards a new era or teeing up for a disaster? Will other board members follow Stephenson’s lead? More importantly, should the governing bodies rethink their strategies when it comes to partnerships and alliances, putting ethics and values ahead of financial gain? What do you think? 🤔💭
