Executive Compensation at PGA Tour, Inc. (2024)

The PGA Tour, Inc. is a tax-exempt, non-profit 501 (c) 6 – a membership organization for touring professional golfers – up to a maximum of 156 who participate in 47 events (44 regular events and 3 playoff events). The exact number of members is difficult to determine since there are various exemptions and player status (the top 125 ranked players have their card renewed annually but players ranked between 126-150 can retain their card and play when other golfers are not playing, and winning certain tournaments also guarantees a tour card).

There are 16 related organizations taxed as a corporation or trust, 4 related organizations taxed as a partnership, and 1 related tax-exempt organization (see the Form 990, Schedule R for details).

The PGA Tour, Inc is overseen by 12 voting members of the governing body, 6 of whom are independent (although the 990 shows 13 due to timing differences, 12 of whom are male while 1 is a female).

In what appears to be in response to the LIV Golf Partnership and the Public Investment Fund, PGA Tour, Inc. created PGA Tour Enterprises LLC to transition its commercial businesses into a for-profit entity (the LLC).  This recent restructuring was largely driven by a $3 billion investment from the Strategic Sports Group (SSG), a private equity group. The move allows the Tour to compete with rival leagues by commercializing its assets, and grants nearly 200 Tour members over $1.5 billion in equity, turning players into actual owners of their league.

In 2024, the PGA Tour, Inc reported total revenue of $761 million  most of which came from tournament management and investment income and gains.  Expenses totaled $1.2 billion with the largest expense reported to be Fees for Services (primarily player prize and other benefits), creating a $452 million shortfall at the end of the year.

375 employees received $104 million, or an average of $277,000.  However, only 119 employees received more than $100,000 in compensation with the 24 most highly compensated reported to be:

• $29,327,975:  Tiger Woods, Player Director
• $19,227,851:  Joseph W Monahan, Commissioner*
• $15,869,687:  Jordan Spieth, Player/Director, Treasurer
• $14,111,885:  Patrick Cantlay, Player/Director
• $13,219,345:  Ronald E Price, COO*
• $11,539,459:  Scott Adam, Player/Director
• $ 3,219,947:  Leonard Brown, Chief Legal Officer*
• $ 3,125,190:  Richard D Anderson, Chief Commercial Officer*
• $ 2,972,425:  Peter Mainati, Player/Director
• $ 2,961,400:  Allison W Keller, Chief Administrative Officer/Secretary*
• $ 2,438,989:  Neera Shetty, EVP, Chief Legal Officer
• $ 2,320,371:  James Webb Simpson, Player Director
• $ 2,194,443:  Jay Madara, EVP and CFO/Treasurer
• $ 2,070,134:  Leland T Dennis, Chief Competitions Officer*
• $ 1,600,629:  Brian M Oliver, EVP,  Corp Partnerships*
• $ 1,339,553:  Laura Neal, EVP, Brand Communications
• $ 1,172,133:  Norbert Gambuzza, EVP, Media
• $ 1,171,378:  Jason Gore, EVP, Chief Player Officer
• $1,109,578:  James Triola, COO, Golf Course Properties
• $ 1,076,471:  Daniel T Glod, Jr, SVP, Business Development
• $1,045,978:  Luis E Goicouria, SVP, Media
• $   987,990:  Alexandra C Baldwin, President, Korn Ferry Tour
• $   908,273:  Jack M Brady, Jr, President, PGA Tour Champions
• $   860,445:  Andrew Weitz, CMO and EVP, Investor Relations

The 24 most highly compensated employees received $136 million in compensation in 2024. Tiger Woods was the most highly compensated at nearly $29 million in compensation followed by Joseph Monahan, the commissioner who received $19 million in compensation, and $113 million in compensation from 2017-2024:

JOSEPH MONAHAN:  TOTAL COMPENSATION 2017-2024:  $113 million

• 2024:  $19,227,851
• 2023; $23,293,346
• 2022: $18,620,857
• 2021:  $13,906,082
• 2020:  $14,198,297
• 2019:  $ 8,880,807
• 2018:  $ 7,443,295
• 2017:  $ 7,569,988

The PGA Tour, Inc. paid for first class or charter travel, companion travel, health or social club dues or initiation fees, and provided tax indemnification or gross up payments. See the Form 990, Schedule J, Part III, Supplemental Information for more details.  Information on supplemental non qualified retirement plans can also be viewed on Schedule J.

To read the IRS Form 990 of the PGA Tour, Inc (2024), click here.