Saudi PIF close to ownership agreement with PGA Tour

According to a recent report from Bloomberg, Saudi Arabia’s Public Investment Fund is on the verge of acquiring a 6% ownership stake in PGA Tour Enterprises, signaling a valuation of around $12 billion. This potential deal comes as the Public Investment Fund, which supports the rival LIV Golf league, explores opportunities with the DP World Tour. These discussions include the possibility of players competing on both tours, as well as consultation on scheduling and financial matters. Notably, the DP World Tour already has an arrangement that allows top PGA finishers to participate annually on the European circuit after scheduling consultations.

Back in June, the PGA Tour had announced a merger with the Saudi-backed LIV Golf league to create a new commercial entity focused on unifying the sport. However, this partnership did not come to fruition as initially planned. At the time of the announcement, it was reported that the Public Investment Fund was considering a capital investment in the merged entity to support its growth and success.

Following the merger discussions, the PGA Tour temporarily suspended all LIV Golf members, although exceptions were made for players who qualified for major tournaments like past winners. If the Public Investment Fund does move forward with purchasing a 6% stake in the PGA Tour, the transaction would be subject to regulatory approval. A developing situation worth keeping an eye on in the world of professional golf.