When LIV Golf’s momentum made it clear it wasn’t going away, Jay Monahan and his team launched the “Player Equity Program” under PGA Tour Enterprises to reward pros loyal to the circuit. Around that time in 2024, the legendary golfer, Nick Faldo, turned to the Tour commissioner Jay Monahan and said, “Jay, I hope you are going to look after us wee old farts.” And Monahan’s reply sounded promising, as Faldo recalls now, “He said, ‘Once we have the deal done with [private equity investor Strategic Sports Group], we’ll work on it.’ ” That didn’t happen.

Early this year, Faldo reached out to Jay Monahan on January 23, texting, “Asking about this equity thing, I assume I’m on the list.” However, when Monahan didn’t respond, Faldo followed up with two voice messages. A representative from the Commissioner’s office eventually contacted Faldo, promising to set up a call with Monahan, but it never materialized. As Faldo quipped to Golfweek, “Assumptions is the screwup of life, isn’t it?”

Eventually, more than a month later, he got a letter from Monahan, which included the Tour’s lawyer in the correspondence. “I was let down that Jay didn’t have the courage to call me directly,” Faldo remarked. “The letter essentially stated that I hadn’t played or won enough. I suppose we were from the wrong era.” However, Nick Faldo’s disappointment also comes from the thought that the Tour isn’t appreciative of his career or achievements, “I’d like to think my contributions to the Tour were significant enough. Plus, I did 18 years of TV and I don’t think I ever said a bad word about the Tour and I supported Jay through LIV. If the Tour thinks I brought no value there’s not a lot I can do, simple as that.” 

But why exactly is this such a big deal? Launched in February 2024, this new initiative under PGA Tour Enterprises will distribute around $930 million to 193 players across four categories. Here’s the breakdown: $750 million will go to the top 36 players, while $75 million is set aside for “past legends” like Jack Nicklaus, Gary Player, and Tom Watson, who will receive a share based on their “Career Points.” This program acknowledges their contributions to the modern PGA Tour.

So, where did Nick Faldo go wrong? It’s likely a combination of factors. With only 306 Tour starts in his career, Faldo’s limited participation might have been a hurdle. Additionally, his decision to give up his Tour card during the dispute over the “Home Circuit release,” which allowed Europeans to compete globally with fewer restrictions, likely didn’t help his case. Aside from that, Faldo’s limited Tour participation, with no more than nine starts in any season between 1987 and 1994, likely cost him a spot among the top 36 players eligible for the program based on the criteria. However, the 6x time major champion isn’t the only disappointed veteran.

The PGA Tour makes Tony Jacklin feel like a “waste of time”

Tony Jacklin, a two-time major winner and member of the World Golf Hall of Fame, criticized the PGA Tour’s Player Equity Program, feeling snubbed despite his significant contributions. Feeling disappointed after being left out of the “past legends” list, Jacklin expressed his frustration over the recent announcement of the Player Equity Program, which will distribute approximately $930 million to 193 players.

“They’re slinging money around like it’s confetti,” the 2x major champion said to Golfweek, condemning the lack of transparency in the selection process. Having known Commissioner Jay Monahan for over 25 years, Jacklin was particularly upset about the lack of response to his outreach, prompting him to hire a lawyer to send a letter to the Tour. “I just thought it was a despicable way of dealing with things,” Jacklin remarked.

He argued that his generation, which helped establish the Tour, deserves more respect and recognition. Citing examples like Tiger Woods receiving $50 million from the Player Impact Program, which boosted event purses, and the Commissioner earning a $23 million annual salary, Jacklin criticized the Tour’s spending habits since LIV Golf’s emergence. “It’s deflating just to talk about it,” he said, expressing his feelings of being undervalued. “I sit here watching the world go by, and it’s almost like they consider you a waste of time.” Well, looks like Jay Monahan is creating more enemies than friends with his decisions!