The deal, which has been negotiated since early December, was made official to the PGA Tour’s membership in a cellphone name early this morning (Wednesday) and coincides with the launch of the brand new for-profit PGA Tour Enterprises, which PGA Tour commissioner Jay Monahan will function chief govt.
“An necessary second for the PGA Tour and followers of golf internationally”
The elephant within the room – or moderately, the elephant absent from the room – is what, if any, involvement Saudi Arabia’s Public Funding Fund, the monetary backs of the LIV Golf League, could have within the new for-profit enterprise. The PGA TOUR has introduced that the cope with SSG will enable for co-investment from PIF sooner or later, and it’s understood that SSG made the cope with the tour below the idea that PIF will be part of the occasion in some unspecified time in the future sooner or later. The PIF’s funding has been hampered by US antitrust rules, the Congress saying this week that its investigation into PIF and its investments in American companies will proceed and will take years to resolve.
The timing of the announcement comes simply two days earlier than LIV Golf launches its third season this week in Mexico, whereas the PGA Tour hosts the AT&T Pebble Seashore Professional-Am, its second signature occasion of 2024 with a $20 million prize fund.