PGA Tour and LIV Golf Nearing Landmark Partnership

Recent talks between the PGA Tour and Saudi backers of LIV Golf have gained momentum, with pivotal meetings taking place. The PGA Tour’s Transaction Subcommittee, including Tiger Woods, made significant progress with PIF Governor Yasir Al-Rumayyan in New York. Both parties aim to advance golf's global growth while overcoming complex negotiations.


Reuters | Updated: 08-06-2024 21:04 IST | Created: 08-06-2024 21:04 IST
PGA Tour and LIV Golf Nearing Landmark Partnership
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Talks between the PGA Tour and Saudi backers of LIV Golf have accelerated in recent months, most recently at a Friday in-person meeting in New York City, the U.S.-based circuit said on Saturday. PGA Tour Enterprises' entire Transaction Subcommittee, a group that includes 15-times major champion Tiger Woods, was present at the latest meeting with Public Investment Fund (PIF) Governor Yasir Al-Rumayyan where more progress was made, the PGA said.

"We remain committed to these negotiations, which require working through complex considerations to best position golf for global growth," the PGA Tour said in a statement. "We want to get this right and we are approaching discussions with careful consideration for our players, our fans, our partners and the game's future."

The PGA Tour said representatives from its Transaction Subcommittee and PIF had met multiple times weekly to work through potential deal terms and come to a shared vision on the future of professional golf. A PIF spokesman did not immediately respond to Reuters when asked in an email to comment on the negotiations.

In June 2023, the PGA Tour, PIF and Europe-based DP World Tour announced a framework agreement to house their commercial operations in a for-profit entity called PGA Tour Enterprises. The framework agreement stunned the golf world and expired at the end of 2023 but the sides have been working to reach a deal, though many involved in the talks have said there is a long way to go to bring the fractured sport back together.

The PGA Tour has since secured a $3-billion investment into PGA Tour Enterprises from a consortium of U.S. sports team owners as part of a deal that allows for co-investment from the PIF.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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