Tiger Woods, PGA Tour Meeting with Saudi PIF amid Rumored $1B Golf Deal
Tiger Woods will reportedly join PGA Tour officials for their negotiations with Saudi Arabia’s Public Investment Fund this week.
According to ESPN’s Mark Schlabach, Woods and fellow golfer Adam Scott will be part of the talks, which are scheduled for Tuesday in New York City and are expected to continue for multiple days.
If an agreement is reached, it will reportedly inject over $1 billion into PGA Tour Enterprises courtesy of the PIF.
In June 2023, it was announced in a press release that the PGA Tour, LIV Golf and the DP World Tour had agreed to merge, seemingly ending an adversarial relationship between the PGA and LIV.
At the time, it was noted that the PIF would invest in the new venture and that the PGA Tour would appoint the majority of the board of directors members with PGA Tour commissioner Jay Monahan serving as CEO.
It was later reported by Schlabach and Golf Digest’s Joel Beall that the PGA Tour would decide the fate of LIV Golf moving forward.
However, the deal still has not been finalized, and the deadline to get one done came and went on Dec. 31.
Even so, the PGA Tour and PIF have continued to negotiate, and Monahan expressed optimism last month over a deal getting done, per Schlabach:
“I would say that the priority, it’s been enhanced. It’s stronger. That’s a direct result of dialogue and conversation and really starting to talk about the future, future product vision and where we can take our sport.
“I think when you get into productive conversations, that enhances the likelihood of positive outcomes and that enhances the spirit of those very conversations. I think that’s where things stand.”
LIV Golf was founded in 2021 and began play in 2022 behind the financial backing of the Saudi PIF.
It was meant to be a direct competitor to the PGA Tour, and it poached several big-name golfers from the tour, including Phil Mickelson, Sergio Garcia, Brooks Koepka, Dustin Johnson, Bryson DeChambeau, Patrick Reed and Bubba Watson.
The alliance between LIV and the PGA Tour was supposed to prevent any additional instances of golfers jumping ship, but LIV struck another major blow to the PGA Tour well after the agreement was reached, signing two-time major champion Jon Rahm in December.
Since LIV was formed, the PGA Tour has banned LIV golfers from competing in PGA Tour events, although they have been allowed to take part in majors if eligible.
In a letter sent from Monahan to players after the merger was announced in June 2023, it was stated that golfers who left the PGA Tour for LIV would be given the opportunity to apply for reinstatement.
There didn’t appear to be much movement in negotiations for months, but with Monahan recently expressing hopefulness and a golf icon in Woods getting involved, things may once again be going in the right direction.
