PGA Tour’s second-highest paid executive out; Jay Monahan announces search for new CEO position – Australian Golf Digest

by Admin
December 17, 2024

[PHOTO: Bloomberg]

Ron Price, the PGA Tour’s chief operating officer and second-highest paid employee, is retiring from his post, the tour announced in a staff memo on Tuesday, a move that coincides with the league’s search for a CEO.

Price is best known to many golf fans as one of the tour’s representatives at the US Congressional hearing held in 2023 after the tour’s surprise framework agreement with Saudi Arabia’s Public Investment Fund. He also served as the temporary co-commissioner with executive vice-president Tyler Dennis when PGA Tour commissioner Jay Monahan stepped away from his position during an undisclosed health issue in mid-2023. Price recently made headlines after the disclosure of his pay last year, making more than $US13 million in total compensation according to the tour’s tax filling. Only Monahan ($US23 million) made more among non-players.

In the memo to staff, Monahan thanked Price for his service and impact on the tour.

Along with the staff-wide memo, Monahan released a video message on social media, announcing the tour has begun looking for a chief executive officer.

“We are bringing new perspectives on our team to help us realise the incredible opportunities for our sport,” Monahan said in a statement. “We can learn so much from the world of sport and entertainment and I’m excited to meet candidates for this role.”

With the newly created position, the tour will not replace Price’s COO spot. Monahan will remain CEO of the tour’s for-profit PGA Tour Enterprises.

Price’s exit comes as the tour attempts to streamline its workforce following private-equity investment from the Strategic Sports Group. Several other high-profile positions are expected to be restructured or cut; last week the Sports Business Journal reported that Matt Rapp, the senior vice-president of championship management, would be leaving his role at the end of the year. Additionally, the tour continues to finalise discussions with PIF, with several outlets reporting a deal is already in place and is waiting for the new Trump administration to take office before finalising.