Report: Tiger Woods and PGA Tour meet with Saudi Arabia’s PIF amid rumors of billion-dollar golf deal
Tiger Woods will reportedly join PGA Tour officials this week in talks with Saudi Arabia’s Public Investment Fund.
According to ESPN’s Mark Schlabach, Woods and fellow golfer Adam Scott are scheduled to attend talks scheduled to last several days in New York on Tuesday. If an agreement is reached, it would result in an investment of more than $1 billion in PGA Tour Enterprises through PIF.
In June 2023, a press release announced that the PGA Tour, LIV Golf and DP World Tour had agreed to merge, effectively ending the contentious relationship between the PGA and LIV. At the time, it was noted that PIF had invested in the new company and that the PGA Tour had appointed a majority of PGA Tour members to the Jim Monahan Committee.
Golf Digest’s Shrubbah and Joel Beal later reported that the PGA Tour had determined that Liv Golf’s fortunes were moving forward. But the deal has yet to be finalized, with the deadline to sign it having passed on Dec. 31.
Nonetheless, the PGA Tour and PIF are continuing to negotiate, and Monahan expressed optimism last month that an agreement could be reached, Schlabach said.
“I’d say it’s been moved up a priority. This is stronger. This is a direct result of dialogue and conversation, and he really started talking about the future, about the future vision of the product and the direction of sports. “I think when you have a productive conversation, you increase the likelihood of a positive outcome, as well as the spirit of that conversation. I think that’s exactly what’s happening. LIV Golf was founded in 2021 and began play in 2022 with funding from the Saudi PIF.
It is intended to be a direct competitor to the PGA Tour and has featured several notable golfers who have played on the tour, including Phil Mickelson, Sergio Garcia, Brooks Koepka, Dustin Johnson, Bryson DeChambeau, Patrick Reed and Bubba Watson. The LIV partnership with PGA Tour was supposed to prevent other golf players from leaving the tour, but for a long time after the completion of the LIV transaction, the PGA Tour was another blow when it signed the champion to Double merger John Ram in December.
Since the creation of Liv The PGA Tour, Liv golfers have banned the PGA Tour, but have enabled them to play in mayors if they are entitled. A letter Monahan sent to players after the merger was announced in June 2023 indicated that golfers who left the PGA Tour for LIV would have the opportunity to ask to return.
Negotiations have not appeared to progress in recent months, but Monahan’s recent expression of interest and golf icon Woods’ involvement could get things moving in the right direction again.