Rory McIlroy to be in Saudi talks as part of transaction committee - ESPN

Rory McIlroy isn't returning to the PGA Tour's policy board, but he'll still be involved in negotiations with Saudi Arabia's Public Investment Fund regarding a potential multibillion-dollar investment in PGA Tour Enterprises as a member of the newly formed transaction committee, the tour announced Thursday.

McIlroy had hoped to rejoin the PGA Tour's policy board but said he wouldn't replace Webb Simpson because of other player directors' concerns about bringing him back.

Former Valero Energy Corporation CEO Joseph W. Gorder has been unanimously elected by the PGA Tour Enterprises board of directors to serve as its inaugural chairman, the tour said in a news release.

Gorder, now executive chairman of Valero Energy's board of directors, will also serve on the transaction subcommittee, along with player liaison director Joe Ogilvie, Fenway Sports Group founder and principal owner John W. Henry, PGA Tour commissioner Jay Monahan, and golfers Adam Scott, Tiger Woods and McIlroy.

Gorder joined the PGA Tour's policy board last year.

«Joe's outstanding business acumen and leadership, marked by his time as chairman and CEO of a Fortune 50 company, position him perfectly to lead the PGA Tour Enterprises board as we embark on this new chapter,» Monahan said in a statement. «His strategic vision is crucial as we collaborate — player directors, board members and Tour management — all pulling together to deliver the best for our fans, who are always our top priority, while also enhancing the tour overall for our players and sponsors.»

McIlroy, who resigned from the policy board on Nov. 14, was expected to replace Simpson on the policy board and the board of directors of PGA Tour Enterprises, the new for-profit entity the tour formed