PGA TOUR Announces PIF Negotiation Progress

The PGA TOUR announced over the weekend the progress that has been made in its quest to negotiate and come to a deal with the Saudi Arabian Public Investment Fund (PIF) as the two entities continue to work out the terms of a potential merger that would more than likely end division in golf.

On Friday, the two sides met in New York City as PGA TOUR Enterprises and the PIF had an in-person meeting. On the TOUR’s side, Rory McIlroy, Adam Scott, and Tiger Woods, along with TOUR Commissioner Jay Monahan, Chairman Joe Gorder, Principal Manager of Fenway Sports Group and Strategic Sports Group John W. Henry, and Liaison Director of PGA TOUR Enterprises Board Joe Ogilvie, were present.

McIlroy joined remotely, while Scott and Woods were both in New York at the in-person meeting.

The TOUR said that its Enterprises Transaction Subcommittee and the PIF have met “multiple times weekly” over the past few months to work out deal terms. Friday’s meeting resulted in “more progress” as the deal continues to come closer.

“What I realized last week? We miss Bryson… Bryson was box office last week.” – Padraig Harrington reflects on the state of golf, including PGA TOUR and LIV. @eamonlynch @damonhackGC pic.twitter.com/e9BuNmIxwX

— Golf Today (@GCGolfToday) May 22, 2024

Additionally, Rory McIlroy said the TOUR is remaining committed to the negotiations and hopes a deal can be done soon:

“We remain committed to these negotiations, which require working through complex considerations to best position golf for global growth. We want to get this right, and we are approaching discussions with careful consideration for our players, our fans, our partners and the game’s future.”

Last week marked the one-year anniversary of when the PGA TOUR and the PIF decided to announce a “framework agreement” that would potentially help golf come back together. Currently, the game is divided into the two main tours: the PGA TOUR and LIV Golf, which several high-caliber names, including Dustin Johnson, Brooks Koepka, Bryson DeChambeau, and Jon Rahm, defected to over the past few years.

Cover Image via ESPN