Jay Madara, executive vice president and chief financial officer of the PGA Tour, will retire effective March 31, the PGA Tour announced Friday. Madara is 54 years old.
Since joining the PGA Tour in 2021, Madara has supported a number of key strategic initiatives, most notably helping the PGA Tour establish a for-profit subsidiary through the creation of PGA Tour Enterprises and investments from Strategy Sports Group. He also played a key role in creating the first player equity program, a unique ownership model in the sports industry. He is also listed as the tour’s treasurer on the nonprofit’s Form 990 documents, which he also signs. He will earn more than $2 million in 2024, according to the tour’s latest Form 990.
Jay Madara.
Madera previously held similar CFO roles at NBC Universal Media and Golf Channel.
advertise
“Jay has been a critical leader during a period of significant change for the PGA Tour, and his financial stewardship has helped position our organization for long-term growth,” PGA Tour CEO Brian Rohlapp said in a release. “We thank him for his contributions and service and wish him and his family the best in retirement.”
The PGA Tour said it has hired Korn Ferry, the title sponsor of its development track, to lead a nationwide search for its next chief financial officer.
This article originally appeared in Golfweek: PGA Tour CFO Jay Madara retires; search begins for replacement
