LIV Golf had two specific demands in $1.5BN PGA – Sports News
The Saudi consortium operating LIV Golf had two demands for the PGA Tour in a potential deal, however the offer was reportedly rejected out of hand.
Reports counsel that the Saudi Arabian Public Investment Fund (PIF) tried to persuade the PGA Tour to finish the ongoing merger dispute between LIV Golf and the Jay Monahan-led circuit. In return, PIF would have invested $1.5 billion in PGA Tour Enterprises (PTE).
Furthermore, PIF wished assurances from the PGA Tour that the Saudi Arabian circuit will proceed to operate and that its governor, Yasir al-Rumayyan, could be the co-chairman of PTE, alongside Joe Gorder. However, the demands of PIF left the PGA Tour much less than glad with the proposal.
With the Masters, the primary main of the yr, beginning in the approaching days, there appears to be no deal in sight because the PGA Tour felt “unease” with the proposal, in keeping with The Guardian. Ultimately, the deal was meant to show that PIF needs LIV to proceed working as independently as potential.
Moreover, the $1.5 billion PIF would have invested in PTE is similar quantity Strategic Sports Group – an American company – initially pledged when the two initially began discussions of a merger. Given the state of negotiations between the two sides, it seems unlikely the two will attain a deal anytime quickly.
LIV Golf CEO Scott O’Neil is optimistic in regards to the future of the circuit, even with out a partnership. O’Neil clarified that he wasn’t half of discussions with President Donald Trump, Monahan, and Al-Rumayyan however stays assured in LIV’s means to thrive independently from the PGA Tour.
“Have to do a deal? No,” O’Neil remarked. “Nice to do a deal? So long as we’re all focused on the same thing, which is growing the game of golf. I think we’re all kind of up for that.
“This will not be my deal. Hope all goes effectively and does what’s best for golf. If that is a deal, great. If it is not a deal, great. We’re fairly good stead.”
Tiger Woods additionally supplied an encouraging replace concerning the continuing talks. While internet hosting the Genesis Invitational in February, Woods stepped into the CBS commentary sales space and commented on the PGA Tour’s negotiations with the Saudi Arabian-backed circuit.
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“We had a assembly with the president,” Woods shared. “Unfortunately, I had another circumstances that got here up, however Jay and Adam [Scott], they did great during the assembly, and we’ve one other subsequent assembly coming up.
“I think that things are going to heal quickly. We’re going to get this game going in the right direction. It’s been heading in the wrong direction for a number of years and the fans want all of us to play together, all the top players playing together and we’re going to make that happen.”
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