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Stephenson, who was the chairman and CEO of
AT&T before retiring in 2020, alluded to Saudi Arabia's human
rights record in a resignation letter obtained by the Washington
Post.
"[The deal] is not one that I can objectively evaluate or in
good conscience support, particularly in light of the U.S.
intelligence report concerning Jamal Khashoggi in 2018,"
Stephenson wrote, referring to the dissident Saudi journalist
who was assassinated at the Saudi consulate in Istanbul.
The PGA Tour's stunning decision to enter a partnership with the
PIF last month was kept under wraps, with commissioner Jay
Monahan and a select few board members, including Ed Herlihy and
Jimmy Dunne, aware of and working on the negotiations.
Saudi Arabia has invested heavily in sports around the world,
including bankrolling the LIV Golf League, which debuted last
year and split men's golf by paying high sums to stars like Phil
Mickelson and Brooks Koepka.
The PGA Tour fought back publicly, with Monahan even criticizing
Saudi Arabia's human rights record, while endeavoring to raise
purses to persuade its remaining star members to stay.
Though it might spell the end of LIV Golf, the new framework
deal would see PIF governor Yasir Al-Rumayyan serve as chairman
of the combined PGA-PIF entity and Monahan serve as CEO.
The alliance needs the 10-member policy board's approval in
order to move forward.
Stephenson said he planned to resign sooner, but waited because
Monahan stepped away soon after the June announcement for
medical reasons. Monahan is returning to work July 17.
"I joined this board 12 years ago to serve the best players in
the world and to expand the virtues of sportsmanship instilled
through the game of golf," Stephenson wrote. "I hope, as this
board moves forward, it will comprehensively rethink its
governance model and keep its options open to evaluate
alternative sources of capital beyond the current framework
agreement."
--Field Level Media
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