PGA Tour commissioner Jay Monahan reportedly earned over $23m in regular and deferred compensation in 2023. Sportico reports that it has obtained a copy of PGA Tour Inc.’s 2023 tax return upon request, and it breaks down Monahan’s compensation. That includes a base salary of $1,887,096, bonuses and incentives of $12.1m, $2.5m in estimated benefits to come after he retires and $6.7 million in post-2023 long-term incentive compensation. The overall figure is approximate because around $9m is deferred to future years and could change. Still, that represents an increase of around $4.4m on Monahan’s 2022 compensation. The period covered by the tax return included discussions with the Saudi Public Investment Fund (PIF) behind LIV Golf.
Legal fees were outlined in the tax return, although they were not as high as in 2022. Overall, the PGA Tour spent $18.7m in legal expenditures, a reduction from just under $21 million the year before. The tax return also details the compensation over the same period for the PGA Tour’s chief operating officer, Ronald Price, who earned over $13m in regular and deferred compensation, including bonuses and incentives of $7.8m. The PGA Tour generated revenue of $1.82bn in 2023 as well as $2.52bn in sales of non-inventory assets. Following the period covered by the tax return, the PGA Tour announced a $3bn investment with Strategic Sports Group (SSG) through its new commercial venture PGA Tour Enterprises.
Talks with the PIF are ongoing, with positive signs that negotiations are progressing. Jay Monahan and PIF governor Yasir Al-Rumayyan were paired together at the Alfred Dunhill Links Championship, indicating potential collaboration. SSG’s Steve Cohen also spoke optimistically about the chances of a deal getting done, despite it now being almost 18 months since the opening of negotiations was announced. He expressed confidence that the various moving parts will come together to reach an agreement. As deals season approaches, be sure to check out the best Black Friday golf deals recommended by experts. Stay updated on the latest news, insights, and game-changing tips in the world of golf.
