The PGA Tour’s negotiations with the Public Investment Fund of Saudi Arabia are continuing, despite having joined forces with U.S.-based sports investment group
While announcing that they are still in talks with the Public Investment Fund of Saudi Arabia (PIF), the PGA Tour strengthened their ranks by partnering with Strategic Sports Group (SSG).
Since LIV Golf’s funding came from Saudi Arabia and they began to challenge the biggest names in the game, the PGA Tour and LIV Golf have been at odds. In June, commissioner Jay Monahan confirmed that they had plans to collaborate with PIF as a part of a new for-profit organization, raising hopes for a resolution to this dispute.
There had been tidings that the Saudi fund was up against competition to work with the American-based circuit, with other American investment groups eager to join the organization.
And in light of the ambiguity surrounding the proposed agreement gathering, the Tour announced on Sunday that they had partnered with SSG, which is made up of Fenway Sports Group (FSG), the owners of Liverpool Football Club. Under the SSG umbrella, FSG is one of several partners.
According to golf analyst Bob Ball, the new partnership is estimated to be worth a total of £43 million ($54 billion). Even after the Tour announced a deal with the American group, it was made clear that it still intended to work with PIF.
A statement confirming the news said: “As negotiations with the PIF continue, the PGA Tour Policy Board has unanimously chosen an outside investment group to proceed with further negotiations. A memo sent to Tour members on Sunday declared the decision to move forward with talks with Strategic Sports Group (SSG).
The disputed memo detailed the Tour’s intentions to “advance negotiations” with the Saudi backers in the hopes that this will put an end to their conflict with the LIV setup. The news is timely for both tours, as LIV recently enticed Jon Rahm, one of the biggest names on the PGA Tour.
Rahm agreed to a reported £450 million deal to become the biggest signing of the Saudi-funded league to date. In the wake of Rahm’s decision, there is increasing pressure on the PGA Tour to reach a deal. According to some reports, Tony Finau and Tyrrell Hatton are among the other celebrities who may decide to follow in the Spaniard’s footsteps.
Rahm, the man of the moment, is optimistic that the two sides can work out an agreement as soon as possible, one that will now include SSG. “I can’t talk about what I don’t understand. I’d like to know more about the current state of the framework. To play the best golf I can, I’ve distanced myself from all of that.
It’s a little distracting at times, so I haven’t really paid much attention to it. There have been some significant advancements in the game of golf, and I sincerely hope that going forward, we can make choices that will improve the game.”
For the time being, the Masters victor is anticipated to become the most well-known figure to be suspended by the Tour for choosing to participate in the LIV setup. But in the future, he hopes to compete on both circuits and the DP World Tour. He continued, “I do want to keep my status on the DP World Tour and the PGA Tour.”
“I’m not going to give that up. With the freedom LIV provides, hopefully, I’ll be able to play both of those tours. If my schedule permits, there are specific PGA Tour events that I would like to participate in. If it’s feasible, I would like to see that through.
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