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Finchem's contract extended another year, through June '17

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AUSTIN, Texas – PGA Tour commissioner Tim Finchem said Sunday that his contract has been extended another year, through June 1, 2017, but that he still plans to step down by the end of the year.

Speaking with a small group of reporters Sunday morning at the WGC-Dell Match Play, Finchem said that his extension was approved during a Tour policy board meeting last week in Orlando, Fla.

“The length of the contract really is just a placeholder in terms of giving me a little more time to do some of the projects I’m engaged in now and I want to bring those forward,” Finchem said. “I wouldn’t anticipate I’m going to stay that long.” 

Finchem had suggested earlier this month that he might stay in his current role a bit longer because of his role as chairman of the World Golf Foundation. The 68-year-old’s current deal was for four years and was thought to be his last once the Tour named Jay Monahan deputy commissioner – and presumed successor – in 2014.

Earlier this week, the circuit announced that Monahan was also named the chief operating officer of the PGA Tour, effective next Friday, raising questions about Finchem’s plans for leaving the post.

“I’m in a position where Jay runs the day-to-day business totally and I focus on major initiatives,” Finchem said, later adding: “I’m 100 percent confident that the things I’m focused on now will be where I’m comfortable stepping aside. I can see a path in each case.

“For every organization there’s a time when it needs to morph. … I can probably work another five or six years, but I don’t think that’s the best thing for the organization.”