Jay Monahan to leave next year as PGA Tour commissioner
Advertisement
Monahan announced last December the search for a CEO. Still unclear was the Belmont native's role until the announcement of Rolapp.
Monahan will shift his day-to-day responsibilities to Rolapp and focus more on his position on the PGA Tour board, along with the commercial PGA Tour Enterprises board, through 2026.
Rolapp was introduced two days after the U.S. Open, one of four times a year all the best players are together.
Monahan, who guided all of golf through the COVID-19 pandemic, was criticized for not taking a meeting with the Public Investment Fund of Saudi Arabia when it wanted to invest in golf with a team component.
LIV Golf began in June 2022 and lured away over the next two years Bryson DeChambeau and Brooks Koepka, Jon Rahm and Dustin Johnson.
Advertisement
Monahan and two board members, Jimmy Dunne and Ed Herlihy, then secretly met with PIF leadership and
The framework agreement was never finalized. The PGA Tour and PIF are still negotiating on an investment deal, and not even President Donald Trump could smooth the way after a meeting in February.
'Brian is the perfect choice for the next chapter of the PGA Tour,' Monahan added. 'His arrival strengthens our leadership team and reflects our shared commitment to the TOUR's continued evolution. With Brian's expertise and vision, and the trust we've established with our players and fans, I'm more confident than ever in the future we're building.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
USA Today
10 minutes ago
- USA Today
Jonathan Toews' incentive-laden Jets contract shows Winnipeg has concerns
Jonathan Toews will officially return to the NHL next season, ending a two-year hiatus that many fans expected was more likely to lead him into retirement than back to the rink. On Friday, the 37-year-old center who captained the Chicago Blackhawks to three Stanley Cups agreed to a one-year deal with his hometown Winnipeg Jets. The deal will be official when free agency opens on July 1. Toews stepped away from hockey at the end of the 2022-23 season. He played in just 53 games that season as his body continued to break down from battles with long COVID and Chronic Immune Response Syndrome. Following the expiration of his contract with the Blackhawks, the center chose to not seek a new team while he addressed his health — a journey eventually took him to India last December. While the Jets are certainly adding a savvy veteran, it's also clear they aren't quite sure what Toews will be able to offer throughout the course of a regular season and playoff run. Look no further than his reported contract details. It's worth noting that Jets general manager Kevin Cheveldayoff was the assistant GM of the Blackhawks during the early portion of Toews' career from 2009-2011. There's a certain level of familiarity there. Cheveldayoff knows all about the intangibles Toews can bring to a locker room. But he also clearly knows about all the uncertainties here. That Toews would earn a bonus just for skating in 20 games — and every 10 games after until 60 after — sets rather low, if not reasonable expectations. It's unclear if Toews will need a conditioning stint in the AHL (if he'd be open to it) or what his role will be on the team. Per The Athletic: As a UFA, all Toews costs is cash, so Winnipeg's bet on him as a potential 2C — or as a third-line centre if the Jets run Adam Lowry's line as hard as they've done for the past three seasons — is highly sensible. The Jets will be able to take a good, long look at Toews' ability ahead of the deadline before looking for any additional upgrades. And even if Toews struggles to make a top six impact, he's been such a strong faceoff performer throughout his career that he'll be dependable as a depth option who can be trusted for key defensive zone draws — something the Jets don't often trust their current 2C, Vladislav Namestnikov, to do. Signing Toews is an incredibly low-risk, high-reward move that's also just straight up great public relations. Manitoba is home to Toews Lake and the Jonathan Toews Community Centre, both of which were renamed for the forward. But if it doesn't work out, if Toews can't manage 20 games, then the team that won the President's Trophy last year isn't on the hook for much. The club has all the talent it needs to win a Stanley Cup. Now it has another veteran who knows how to finish the job. So long as he can stay on the ice. That part remains to be seen.
Newsweek
39 minutes ago
- Newsweek
Justin Thomas Joins Scottie Scheffler atop Travelers Championship
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Justin Thomas was on fire during the second round of the Travelers Championship, carding a 6-under 64 that propelled him into first place. There, he joined World No. 1 Scottie Scheffler, who remains co-leader for the second consecutive round. Naturally, Thomas was very pleased with his performance on Friday. Speaking to the media after the second round, the 16-time PGA Tour winner identified two factors that were key to his score: "I was very patient. I hit a lot of really, really good iron shots," he said. Justin Thomas of the United States plays his shot from the first tee during the second round of the Travelers Championship 2025 at TPC River Highlands on June 20, 2025 in Cromwell, Connecticut. Justin Thomas of the United States plays his shot from the first tee during the second round of the Travelers Championship 2025 at TPC River Highlands on June 20, 2025 in Cromwell, most professional golfers, Thomas was highly critical of his game, but found the result encouraging, given the circumstances. "I didn't feel like I drove it very well. I kept it in play and kept it in front of me, which is a big part of it, but I just kind of kept it out of trouble." "I would much prefer to be hitting the middle of the club face and doing that, but it's still a good sign on a really windy day like this if I am far from my best, I can get it around the course and just stay patient, and finally make some putts on that back nine." "It was nice." Justin Thomas started the second round with a clean card on the front nine with two birdies. However, the best was yet to come. After a bogey on the 10th hole, he responded with five consecutive birdies. Thomas then parred the final three holes to finish the round at 6-under and the first 36 holes at 9-under. JUSTIN THOMAS T1 — Fore Play (@ForePlayPod) June 20, 2025 This performance allowed Thomas to climb 14 spots to first place. The day before, he had finished tied for 15th place at 3-under, with four birdies and one bogey. Thomas is currently tied for first place with Scheffler, who shot 1-under par for the second round, adding it to his 8-under from the previous day. The two-time major champion has regained his peak form during the 2025 season, earning one victory at the RBC Heritage and three second-place finishes in 14 tournaments. His biggest loss this year has been in the major championships, as he missed the cut at the US Open and the PGA Championship, and finished T36 at the Masters Tournament. Nevertheless, these results have returned him to the top 10 in the world rankings (he is currently ranked 5th) and kept him ranked 4th in the FedEx Cup standings. He is also virtually guaranteed a spot on the Ryder Cup team. More Golf: Rory McIlroy Quips Media with 'Report Birdies and Bogeys' at Travelers
Yahoo
an hour ago
- Yahoo
Darden (NYSE:DRI) Reports Q2 In Line With Expectations
Restaurant company Darden (NYSE:DRI) met Wall Street's revenue expectations in Q2 CY2025, with sales up 10.6% year on year to $3.27 billion. Its GAAP profit of $2.58 per share was 12.1% below analysts' consensus estimates. Is now the time to buy Darden? Find out in our full research report. Revenue: $3.27 billion vs analyst estimates of $3.26 billion (10.6% year-on-year growth, in line) EPS (GAAP): $2.58 vs analyst expectations of $2.94 (12.1% miss) EPS (GAAP) guidance for the upcoming financial year 2026 is $10.60 at the midpoint, missing analyst estimates by 1.2% Operating Margin: 11.7%, down from 13.4% in the same quarter last year Free Cash Flow Margin: 8.4%, down from 9.7% in the same quarter last year Locations: 2,159 at quarter end, up from 2,031 in the same quarter last year Same-Store Sales rose 4.6% year on year (0% in the same quarter last year) Market Capitalization: $26.07 billion "We had a strong quarter with same-restaurant sales and earnings growth that exceeded our expectations," said Darden President & CEO Rick Cardenas. Founded in 1968 as Red Lobster, Darden (NYSE:DRI) is a leading American restaurant company that owns and operates a portfolio of popular restaurant brands. Examining a company's long-term performance can provide clues about its quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. With $12.08 billion in revenue over the past 12 months, Darden is one of the most widely recognized restaurant chains and benefits from customer loyalty, a luxury many don't have. Its scale also gives it negotiating leverage with suppliers, enabling it to source its ingredients at a lower cost. However, its scale is a double-edged sword because there is only so much real estate to build restaurants, placing a ceiling on its growth. For Darden to boost its sales, it likely needs to adjust its prices, launch new chains, or lean into foreign markets. As you can see below, Darden's sales grew at a mediocre 6% compounded annual growth rate over the last six years (we compare to 2019 to normalize for COVID-19 impacts) as it barely increased sales at existing, established dining locations. This quarter, Darden's year-on-year revenue growth was 10.6%, and its $3.27 billion of revenue was in line with Wall Street's estimates. Looking ahead, sell-side analysts expect revenue to grow 8.7% over the next 12 months, an acceleration versus the last six years. This projection is above average for the sector and indicates its newer menu offerings will catalyze better top-line performance. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Darden sported 2,159 locations in the latest quarter. Over the last two years, it has opened new restaurants at a rapid clip by averaging 6.1% annual growth, among the fastest in the restaurant sector. When a chain opens new restaurants, it usually means it's investing for growth because there's healthy demand for its meals and there are markets where its concepts have few or no locations. The change in a company's restaurant base only tells one side of the story. The other is the performance of its existing locations, which informs management teams whether they should expand or downsize their physical footprints. Same-store sales is an industry measure of whether revenue is growing at those existing restaurants and is driven by customer visits (often called traffic) and the average spending per customer (ticket). Darden's demand within its existing dining locations has been relatively stable over the last two years but was below most restaurant chains. On average, the company's same-store sales have grown by 1.7% per year. This performance suggests it should consider improving its foot traffic and efficiency before expanding its restaurant base. In the latest quarter, Darden's same-store sales rose 4.6% year on year. This growth was an acceleration from its historical levels, which is always an encouraging sign. We enjoyed seeing Darden beat analysts' same-store sales expectations this quarter. We were also happy its revenue was in line with Wall Street's estimates. On the other hand, its EPS fell short of Wall Street's estimates. Looking ahead, EPS guidance also came in below expectations. Overall, this was a weaker quarter. The stock remained flat at $221 immediately following the results. Darden didn't show it's best hand this quarter, but does that create an opportunity to buy the stock right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
