In the midst of merger negotiations between the Public Investment Fund (PIF) and the PGA Tour, LIV Golf CEO Greg Norman is optimistic about the long-term viability of the Saudi-backed league.
Despite the ongoing discussions between the PGA Tour and the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, Greg Norman is adamant that LIV Golf is not going anywhere.
According to Norman, 69, that is the mandate from PIF governor Yasir Al-Rumayyan that he is working towards. As recently as mid-March, the Saudi businessman met with player directors and PGA Tour commissioner Jay Monahan to negotiate.
As the first anniversary of the framework agreement between the PGA Tour, PIF, and DP World Tour draws near, those discussions are still ongoing. This is true even though a final agreement needed to be reached and approved by the end of the previous year in order for it to be extended into 2024.
Although Norman isn’t involved in those conversations, he was questioned about the circumstances this week at LIV Golf Singapore, where Brooks Koepka won the individual event, because of his professional relationship with Al-Rumayyan.
He told Bloomberg, “I’m just going to answer as the CEO of LIV.” “According to my boss, LIV is not going anywhere. It will continue to function long after he passes away. Currently, Al-Rumayyan is a young man [he turned 54 in February].
“He has requested that I maintain my focus and deliver LIV. LIV exists on its own. Billions of dollars have been invested by him in this. And this is where an ROI (return on investment) is beginning to emerge. Thus, we shall maintain our attention here.”
When asked about the future of the league on Thursday at a press conference in Singapore, Koepka took a similar stand. He emphasized, “I mean, PIF and the PGA Tour are also involved in the merger.” “I believe the distinction is that.
It’s the PGA Tour and the PIF, not LIV Golf. That is something that I believe has to be widely known. Look, we’re not sure. The PGA Tour is clueless. It’s our job to go play golf, nothing more. That is our purpose for being here. However, I believe it’s crucial that the merger proceed in that manner.
Following up with that comment, Graeme McDowell expressed optimism regarding the future of the tour. “I think everyone believes that the product in which we are currently involved is strong and that it will not fade away anytime soon,” he remarked.
After a while, McDowell said, “I really feel like the trajectory is moving us in the right direction, and regardless of any mergers, I don’t think this product is going anywhere anytime soon.”
Norman continued to discuss that trajectory in his remarks, restating its original intentions to buy the venues for its events and mentioning that one nation expressing interest is the Philippines. Additionally, he stated to Bloomberg, “Consider LIV owning every golf course, each team having a home arena, and they host.”
“You can now expand around that. It’s not simply a golf course,” the speaker clarified afterwards. “We are going to do that.”
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