Our Clients:

Field Level Media - Professional sports content solutions | FLM

Feb 1, 2024 11:38 pm

Yasir Al-Rumayyan: ‘PIF remains committed’ to LIV Golf

LIV Golf chairman Yasir Al-Rumayyan on Thursday sent a letter to LIV players assuring them that Saudi Arabia’s Public Investment Fund “remains committed to investing in and supporting LIV.”

The letter, reported by Golfweek, follows a move Wednesday by Strategic Sports Group, a consortium of U.S.-based sports franchise owners, to become minority owner of PGA Tour Enterprises. The group made an initial investment of $1.5 billion.

PIF, which created LIV, and the PGA Tour have been in talks to reach an agreement between the competing golf entities. PGA Tour commissioner Jay Monahan and Al-Rumayyan met in Saudi Arabia last week to continue those discussions. The significant financial backing by SSG could bring a semblance of leverage to negotiations between the tours.

In his letter to LIV players on Thursday, Al-Rumayyan wrote, “Yesterday’s announcement of the formation of PGA Tour Enterprises is consistent with PIF’s longstanding passion to grow the game. PIF continues to discuss and evaluate the possibility of a future investment that benefits the greater game of golf.

“PIF remains committed to investing in and supporting LIV and the team golf format that has brought new energy and so many new fans to the game around the world. The game of golf is only beginning to fulfill its potential. This is the vision we had when LIV was created, and today that is more alive than ever.”

In a Wednesday memo to PGA players outlining details of the SSG deal that could be worth more than $3 billion, Monahan noted progress toward an agreement with LIV Golf. The investment from SSG welcomes the potential for another $3 billion investment — possibly more — from PIF.

The PGA Tour policy board held meetings and is scheduled to meet again prior to this week’s AT&T Pebble Beach Pro-Am in California.

A merger likely would include the PGA Tour, PGA Tour Champions, the DP World Tour and Korn Ferry Tour members in some combination with LIV Golf, which already has scheduled 2025 events.

–Field Level Media

You may also like

Rickie Fowler
Feb 28, 2024 6:26 pm

Rickie Fowler: PGA Tour needs ‘better way’ to entertain fans

Rickie Fowler said Wednesday the PGA Tour has to “figure out a better way to entertain our fans.” He made the comments at a pre-tournament press conference ahead of the…

Rory McIlroy
Feb 28, 2024 4:57 pm

McIlroy aims to kick off Florida swing with win at PGA National

After an unusually wet and windy West Coast swing, the PGA Tour has made it to Florida, where four straight weeks of tournaments will kick off with the newly named…

rory mcilroy
Feb 28, 2024 3:58 pm

Rory McIlroy: No talk of asterisk necessary for Masters

Rory McIlroy is missing only the championship at the Masters Tournament to become the sixth golfer to win a career Grand Slam on the PGA Tour. And speaking Wednesday in…

More Golf News

Rickie Fowler
Feb 28, 2024 6:26 pm

Rickie Fowler: PGA Tour needs ‘better way’ to entertain fans

Rickie Fowler said Wednesday the PGA Tour has to “figure out a better way to entertain our fans.” He made the comments at a pre-tournament press conference ahead of the…

Rory McIlroy
Feb 28, 2024 4:57 pm

McIlroy aims to kick off Florida swing with win at PGA National

rory mcilroy
Feb 28, 2024 3:58 pm

Rory McIlroy: No talk of asterisk necessary for Masters

camilo villegas
Feb 28, 2024 2:00 pm

Camilo Villegas replacing Jordan Spieth on PGA Tour’s policy board

rory mcilroy
Feb 28, 2024 1:51 pm

2024 Cognizant Classic: Preview, Prop Picks, Best Bets

Read all
fb-post
advertisment
title-icon

Upcoming events

See all odds