Earlier this week, Jimmy Dunne resigned from his role on the PGA Policy Board, just under one year after he helped negotiate with the Public Investment Fund alongside Jay Monahan and chairman Ed Herlihy.
Dunne, vice chair and senior managing principal at Piper Sandler, wrote in his resignation letter that “no meaningful progress has been made towards a transaction with PIF” and that “my vote and my role is utterly superfluous.”
Rory McIlroy, who resigned from the board in November, reacted negatively to the news.
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“It’s really disappointing and I think the PGA Tour is worse off because of it,” he told reporters on Wednesday at Valhalla on the eve of the PGA Championship.
McIlroy added that he, too, felt that no progress has been made with the PIF and LIV Golf, calling it “concerning.”
But that was a light reaction compared to 2009 U.S. Open winner Lucas Glover.
With Dunne’s resignation, there are now six players on the board as opposed to four independent directors. Glover says the current system is “100% backward.”
“Tour players play golf. Businessmen run business. They don’t tell us how to hit seven irons,” he said on his Sirius XM show Monday night, via Golfweek. “We shouldn’t be telling them how to run a business. And we are running a business now. And we’re all on the same team because this for-profit entity that’s about to launch needs to get it right. It needs to be right. And players that think they know more than Jimmy Dunne, players that think they know more than (Board chairman of the 501-C6) Ed Herlihy, players that think they know more than (chairman of the new for-profit entity) Joe Gorder, players that think they know more than (Tour commissioner) Jay Monahan, when it comes to business, are wrong…
“My biggest fear in all this is that it’s gonna turn into the American presidency where nobody that’s actually qualified will actually run for it because they know that it’s fruitless. And that’s where we’re headed now with our Board, unfortunately… And it’s scary because we’re about to launch a huge, huge, huge enterprise and a for-profit company that all the players are gonna own a part of, and we don’t have the smartest possible people there to help us guide us in the right direction. That’s scary.”
The two tours announced on June 6 they had been in discussions to eventually join forces, but there have been many doubts about whether a deal will ever be struck.
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