PGA TOUR and PIF Sign Draft Agreement to Finalize Investment: Sources

The PGA TOUR and the Saudi Arabia Public Investment Fund (PIF) have reportedly signed a draft agreement that would finalize the PIF’s investment into PGA TOUR Enterprises, potentially starting an end to division in golf.

The tidbit of information is a huge development in ongoing merger negotiations between the TOUR and the PIF, who signed a “framework agreement” just over a year ago without any true movement in the talks until now.

Late last week, the TOUR released a statement indicating that progress had been made in the merger talks and that although nothing had been signed, the two sides had been meeting multiple times per week.

PGA TOUR Announces PIF Negotiation Progress

However, an agent that has players on both the PGA TOUR and LIV Golf told author Alan Shipnuck that a draft agreement was signed by the two parties today:

A prominent agent who has clients on both tours tells me a “draft agreement” was signed today between PGA Tour Enterprises and the PIF to finalize Saudi investment in the Tour. This is definite progress but the devil is in the details, which have not yet been leaked.

— Alan Shipnuck (@AlanShipnuck) June 11, 2024

The details of the draft agreement have not yet been released. However, it could mean the end of the division in golf is near.

Of course, the PGA TOUR will have the ultimate say in what happens to the players who left and how they will be incorporated back into weekly play.

Additionally, there will likely be years of developments, hearings, and finalizations, and the final deal will be subject to a Department of Justice review to ensure there is no monopolization.

However, this could be what golf fans have been waiting for and could mean the PGA TOUR's deal with the PIF is getting close.

This morning at his U.S. Open Press Conference, Tiger Woods, who was at the most recent meeting between the TOUR and the PIF in New York City last Friday, said that progress had been made and that the meeting was "productive."

Cover Image via PGA Tour