As talks with LIV Golf heat up, the PGA Tour is reportedly considering a “monster” investment offer from Fenway Sports Group.
A report claims that the owners of Liverpool in the Premier League, Fenway Sports Group, have made a “monster” offer to the PGA Tour that would surpass the Saudi PIFs.
The journalist says he has heard that the framework agreement between LIV’s financiers and the North American circuit is rapidly “falling apart,” according to Alan Shipnuck.
The author referenced people he said were “close to the deal” on Wall Street and in Silicon Valley.
“It appears more probable that we return to LIV versus the Tour,” he wrote.
On June 6, the aforementioned framework agreement was revealed. The remarkable announcement was followed a few days later by the leak of the five-page document.
On May 30, it was signed by Yasir Al-Rumayyan, the purported mastermind of the rival league, Keith Pelley, the commissioner of the PGA Tour, and Jay Monahan, his counterpart in Europe.
It’s evident that after the Ryder Cup, talks to ratify the vague agreement—which is essentially an agreement to work toward a deal—have gotten more serious.
Recently, Davis Love III called the current impasse “bizarre” and implied that PIF representatives are being tough during the negotiations.
According to a different Golf Channel report, LIV players don’t think the deal will get done.
One professional from the breakaway tour stated, speaking under anonymity, “We’re no further along in this thing.” The individuals involved are the same [on both sides].
“At the Tour, I haven’t really noticed any changes. I don’t believe anything will occur.
What does this mean?
Analysis by Ben Smith
If true, this is an interesting but largely expected development. We have heard there are a number of parties interested in investing in the Tour.
Should the NewCo. get set up, it would certainly be more palatable and help appease politicians who voiced their concerns over LIV Golf if the PIF’s investment is diluted considerably.
Alternatively, if the Tour had the backing FSG – valued at approximately $7.35bn – it would allow them to battle LIV in the future without worrying about their resources being depleted.
Tiger Woods and Rory McIlroy’s TGL will also put more guaranteed money in players’ pockets, meaning its unlikely anyone who signed up to the tech-fused golf league will join LIV in the future.
Four months ago, the aforementioned Monahan complained to the U.S. government the PGA Tour was left to fend for itself as they battled LIV.
He stated: “We were largely left on our own to fend off the attacks, ostensibly due to the United States’ complex geopolitical alliance with the Kingdom of Saudi Arabia, although we are grateful for the written declarations of support we received from certain members.”
It’s obvious that Monahan always desired independence. Do the Tour now have the funds to do so, is the question.
It’s obvious that Monahan always desired independence. Do the Tour now have the funds to do so, is the question.
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