NEW YORK: The PGA Tour could not afford to conduct a lengthy spending war against Saudi Arabia, the Wall Street Journal reported today, citing a person who heard the remarks by PGA Tour commissioner Jay Monahan.
Monahan told employees that the Tour had spent close to US$50 million in its legal fight which had years to go, and had dipped into US$100 million of its reserves to pay for its schedule, the report added.
“We cannot compete with a foreign government with unlimited money,” Monahan said, according to the WSJ report.
“This was the time … We waited to be in the strongest possible position to get this deal in place.”
PGA Tour did not immediately respond to a Reuters’ request for comment.