PGA TOUR and Tiger Woods Meet with PIF to Iron Out Deal: Reports

The PGA TOUR and Tiger Woods are in New York meeting with the Saudi Public Investment Fund today to iron out a deal for a more than $1 billion injection that could potentially end division in professional golf and create a new for-profit golf entity.

Along with the already-committed Strategic Sports Group, the PIF is planning to become an investor in the PGA TOUR, but details have yet to be ironed out. 

ESPN reports that this could be the first indicator of a major step forward in the partnership, as meetings are expected to last several days.

The meetings are looked at as a major development because the PGA TOUR and the PIF announced over a year ago that they had come to a preliminary agreement. A deadline of December 31, 2023, was expected to help get a deal done, but this did not work. It was extended to April, but still, the two sides could not come to terms.

PGA TOUR Commissioner Jay Monahan said at the TOUR Championship that talks have been “enhanced” and are “stronger” than previously. Still, the TOUR’s lack of movement and transparency has frustrated many fans with what they see as a lack of progress.

As for Woods, he is in New York to also visit Liberty National for the Nexus Cup, benefitting the Tiger Woods Foundation:

🚨🐅⛳️ Tiger was on the range earlier at Liberty National for the Nexus Cup, benefiting his foundation. While in NY, he’ll also be meeting the Saudis for continued talks. pic.twitter.com/PpauGJBw7D

— TWLEGION (@TWlegion) September 10, 2024

Cover Image via Golfweek