The PGA Tour announces plans to provide players with equity ownership following investment partnership.

• The PGA Tour announced that it will grant professional players direct ownership stakes in the upcoming company following a deal with investors.
• Commissioner Jay Monahan wrote in a memo that prioritizing talks with the Saudi Public Investment Fund is the tour's "top priority."

The PGA Tour announced on Tuesday that it will grant professional players direct ownership in the new company that will be established after a deal is reached with investors, as stated in an internal memo obtained by CNBC.

The PGA Tour is currently in negotiations with Saudi Arabia's Public Investment Fund and the DP World Tour to secure an investment agreement. The talks with PIF and the DP World Tour remain the tour's top priority, according to PGA Tour Commissioner Jay Monahan, who made this statement in a memo on Tuesday.

Earlier this year, the golf leagues reached a framework agreement to combine their business interests. This move sparked anger and criticism from players such as Rory McIlroy. The Senate held hearings to investigate allegations that the deal aimed to increase Saudi Arabia's influence in the U.S. through sports investments.

The latest move to align the interests of PGA Tour players with the business itself is detailed in the new program outlined in Tuesday's memo.

Our league's direct equity ownership for players is a unique offering in professional sports, as no other league grants it. We understand that our players' closer alignment with the commercial success of the business will make the PGA TOUR stronger, as recognized by all prospective minority investors in dialogue with us.

Monahan stated that the Tour's agreement with PIF and DP World Tour has sparked interest from other investors. The board is currently evaluating private investors' proposals and will continue negotiating to choose the finalists.

This week, Fenway Sports Group Chairman Tom Werner confirmed that the company has discussed potential partnerships with the PGA Tour, but declined to provide any additional information. There have been rumors that Fenway could present an offer that surpasses the Saudis' bid.