Saudi Arabia’s Public Investment Fund (PIF) has failed in an attempt to persuade the PGA Tour to deliver serious concessions in exchange for a US$1.5 billion investment, leaving elite golf no closer to reconciliation just days from the season’s first major.
The PGA Tour’s stance would give credence to the rising sense that the organization has increasing confidence in its position after a turbulent period caused by the formation of the Saudi-backed LIV Tour.
Sources indicate that in correspondence sent to the PGA Tour last week, PIF sought assurances that the LIV circuit could continue to operate and that PIF governor Yasir al-Rumayyan could take a place as cochairman of PGA Tour Enterprises. In exchange, PIF would invest US$1.5 billion in PGA Tour Enterprises, the commercial entity created after peace appeared to have broken out in the summer of 2023. The US$1.5 billion investment has been planned to match an identical investment from the US-based Strategic Sports Group.
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The PGA Tour replied to PIF’s demands on Monday, with neither deemed acceptable. Those with detailed knowledge of the situation said that the PGA Tour’s core aim is the reunification of golf, a matter that is hardly assisted by LIV continuing in its present form.
There would also be understandable unease within the PGA Tour should al-Rumayyan, whose organization has bankrolled LIV, be afforded such a prominent position as the breakaway tour continues on its own path.
US President Donald Trump wants golf to come together, but if PIF sticks to its present standpoint, that feels highly unlikely. Trump is likely to appear at his Doral resort this week where LIV is staging a tournament.
Last week’s correspondence between PIF and the PGA Tour is understood to have been the first since a fraught meeting at the White House in late February. There, al-Rumayyan is known to have made it clear he believed LIV had not been respected by the traditional ecosystem.
A dozen players who perform under the LIV banner would tee up at the Masters on Thursday.
Phil Mickelson, Brooks Koepka, Dustin Johnson and others departed the PGA Tour for LIV amid significant rancor. Al-Rumayyan clearly retains deep personal faith in LIV. It is also obvious these talks cannot continue indefinitely. The PGA Tour declined to comment on the recent correspondence.
Speaking early last month, Rory McIlroy, a member of the PGA Tour’s transaction committee, appeared to make pointed reference to PIF’s role in negotiations. “It takes two to tango,” the Northern Irishman said.
McIlroy also made clear a deal was no longer essential for the PGA Tour.
PGA Tour commissioner Jay Monahan also used the recent Florida swing to highlight his organization’s strength in respect of commercial pull, audience figures and engagement.
Monahan said that the PGA Tour had polled their audience on reunification with 70 percent in favor.
At the Players Championship Monahan said: “We believe there’s room to integrate important aspects of LIV Golf into the PGA Tour platform.” Monahan’s tone implied a pendulum had swung back in his favor.
LIV chief executive Scott O’Neil is expected to visit Augusta National for the Masters. Speaking at Doral he said: “Do we have to do a deal? No. It would be nice to do a deal, so long as we’re all focused on the same things.”
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