Jay Monahan will become PGA Tour commissioner when Tim Finchem retires on January 1
Tuesday 8 November 2016 10:38, UK
Jay Monahan will take over as PGA Tour commissioner on January 1, 2017, after Tim Finchem confirmed his decision to step down.
Finchem's retirement had been expected for some time and the PGA Tour's policy board said current deputy Monahan had been unanimously approved as his replacement at a meeting on Monday.
The 69-year-old has overseen a major increase in tournament purses since he took over the role from Deane Beman in 1994, with the total prize money on offer for the 2016-17 season in excess of $300m (£242m).
Live PGA Tour Golf
And he expects the tour to continue to grow under Monahan's leadership, saying: "I have the highest regard for Jay and have total confidence in his ability to lead the PGA Tour well into the future
"He has been a key member of the executive team since joining the tour and has worked closely with me on all business matters since becoming deputy commissioner.
"Jay is well respected throughout the PGA Tour family and the golf industry. I know he will do a tremendous job for the players and all constituents of the PGA Tour."
Monahan will be the fourth man to hold the role and has been with the organisation in a variety of positions since 2008.
"I am greatly honoured by the trust the Policy Board has shown in me to succeed Tim Finchem as commissioner," he said.
"Under Tim's leadership, the PGA Tour has made remarkable progress, even in the most difficult economic times.
"We are now entering a very important time in our organisation's history, and I know our executive team and I will draw upon and be inspired by the invaluable experience of working with Tim as we take advantage of the extraordinary opportunities, as well as face the challenges, that are ahead for the tour."
