While detailing ongoing communication with LIV Golf's backer, PGA Tour commissioner Jay Monahan all-but admitted that the original framework agreement with Saudi Arabia's Public Investment Fund (PIF) has been more or less scrapped.

“I would say that the framework agreement is still relevant,” Monahan said Wednesday before the Travelers Championship at TPC River Highlands in Cromwell, CT. “There are aspects of it that certainly continue to be in play. But I would put it more back towards we've kind of stepped back, we've all stepped back and we started anew.”

June 6 was the one-year anniversary of Monahan and PIF Chairman Yasir Al-Rumayyan's stunning announcement on live television of a theoretical merger between the PGA Tour, the LIV Golf League, and the DP World Tour. A Dec. 31 deadline to finalize the agreement was pushed indefinitely amid Department of Justice scrutiny and complex negotiations.

Earlier this year, the PGA Tour secured a multi-billion dollar infusion from Strategic Sports Group — a consortium of sports owners and high-profile investors — to launch PGA Tour Enterprises, a for-profit branch tasked with growing the game. Tiger Woods is vice president.

PGA Tour Enterprises recently created a transaction subcommittee, featuring Monahan, Tiger, Rory McIlroy, Adam Scott, and Boston Red Sox owner John Henry, to spearhead talks with PIF.

“And particularly with the introduction of the Transaction Committee, our players' involvement, and I would say that we're, you know, the vast majority of what we're talking about, we're building from the ground up,” Monahan said. “But any time you're building from the ground up, part of what you've talked about, part of the history of those conversations is important context.”

On June 7, representatives from all groups gathered in New York City for what McIlroy called a “big boy” meeting. In a memo to players Tuesday, Monahan said the two sides have “reached consensus on several items, but both parties recognize that there is still work to do to reach a final agreement.”

At the RBC Canadian Open, McIlroy said PIF and the subcomitte have been meeting thrice weekly. Monahan confirmed the steady dialogue at his pre-Travelers press conference on Wednesday.

“I will go back to the meeting that we had just two Fridays ago in New York, where our entire Transaction Committee, including Tiger Woods and Adam Scott being in person and Rory dialing in from the Memorial Tournament, alongside Yasir Al-Rumayyan, the Governor of the PIF and representatives of the PIF,” said the commissioner. “It was a very productive discussion. As we've said, progress was made and we continue to be in regular dialog. I had a 10 o'clock call this morning with the PIF, and we're doing that multiple times a week.”

The Travelers Championship is the final signature event of the 2024 PGA Tour season. Meanwhile, U.S. Open champion Bryson DeChambeau, Jon Rahm, and the LIV guys will compete in Nashville this weekend.

“We're focused on trying to get to the right outcome, the right outcome for our players, for our fans, for the game of golf, and that's where our focus is,” said Monahan.