The PGA Tour is nearing a substantial financial deal with the Public Investment Fund (PIF) of Saudi Arabia, which could inject £760 million ($1 billion) into its new for-profit entity, PGA Tour Enterprises.
The discussions, sparked by PGA Tour Commissioner Jay Monahan in June, aim to address tensions between the PGA and LIV Golf.
ESPN reports that key figures, including Tiger Woods, are involved in ongoing negotiations held in New York.
At the core of these talks is PIF’s potential investment in the joint venture between the PGA Tour and Strategic Sports Group (SSG), established earlier this year. Updates have been limited due to the delicate nature of negotiations, though Monahan expressed optimism during the Tour Championship in Atlanta, indicating progress is being made.
Tiger Woods, who flew to New York for these talks, also addressed the situation at the Open Championship in July, confirming ongoing discussions. He emphasized the need for privacy in negotiations but reassured that progress is being made, hinting that significant changes may be on the horizon for professional golf.
