Smith, who was one of the notable players to join the PIF-backed breakaway LIV Golf tour, acknowledges the legal challenges that ensued from the move.
Last month, a surprise announcement revealed a “framework agreement” for a merger between the PGA and DP World Tours and the PIF’s golf-related commercial businesses, including LIV Golf.
However, the specifics of the deal and how it will be implemented, particularly concerning the participation of LIV Golf players on the PGA Tour, are still unclear.
Despite the ongoing uncertainties, Smith maintains a positive outlook on the sport’s future, highlighting the talent and potential for growth in golf.
The developments surrounding the proposed merger will undoubtedly have a significant impact on the landscape of professional golf, and players like Smith will be closely monitoring how the situation unfolds.
“I’m optimistic. I think golf is in a great spot,” said Smith, who begins his defence of the British Open at Hoylake on Thursday.
“There’s obviously a lot of things that are up in the air that no one really knows at the moment.
“I don’t even think the guys that are trying to sort it out really know what this outcome is going to be like.”
Documents from a US Senate investigation into the deal last week revealed the PGA Tour had requested the firing of LIV chief commissioner Greg Norman during negotiations.
But Smith came out in support of his fellow Australian, who has alienated many key figures on the PGA Tour over the past two years.
“I’ve kind of become a bit of a friend of Greg’s, I guess, the last eight or nine months,” added Smith.
“Personally I think he’s doing a great job for our Tour. He’s looking out for our best interests.
“That’s all you can ask of a guy that’s running the show. I’d love to see him keep on.”
Smith’s move to LIV shortly after his first major victory 12 months ago somewhat overshadowed his stunning performance at St. Andrews to equal the record winning score at a British Open of 20 under par.
The 29-year-old is desperate to become the first man since Padraig Harrington in 2008 to retain the British Open so he does not have to part with the Claret Jug for long.
“I just had to hand back the trophy there. I thought I was going to do all right, but I was actually holding back from tears,” he said.
“What I’ve been saying to all my mates, it’ll only be a week and we’ll be drinking out of it again.
“You never know, sometimes you can play your best golf at major championships and you can run fourth or fifth.
“Hopefully it’s another week like last year and I’m back with the trophy.”
(With AFP inputs)