PGA Tour Advances Negotiations With Fenway Group, Still Talking With Saudis

After last week’s news that Jon Rahm was joining LIV Golf, many insiders have said it created a sense of urgency within the PGA Tour headquarters to A) get their funding deals completed and B) pick up talks with those involved in the Saudi Arabian Public Investment Fund (PIF) to complete the framework agreement before the Dec. 31 deadline.

Along that end, the PGA Tour Policy Board updated players on both fronts in a memo sent on Sunday. 

In a memo sent to tour membership Sunday, the tour’s policy board said they are “very confident in an eventual, positive outcome for all players and the PGA Tour as a whole.”

Read more: https://t.co/j6WAh59mj7 pic.twitter.com/oYSs4RO8xB

— Golf Digest (@GolfDigest) December 10, 2023

Regarding outside funding, the policy board said that it was planning to “further negotiate with Strategic Sports Group (SSG), a consortium of U.S.-based professional sports team investors led by Fenway Sports Group.”

In addition to Fenway, which was previously reported and holds ownership stakes in the Boston Red Sox and Pittsburgh Penguins – among other entities – other sports owners involved include Arthur Blank (Atlanta Falcons), Tom Ricketts (Chicago Cubs), and Steve Cohen (New York Mets). 

The memo also read, “We also anticipate advancing our negotiations with the PIF in the weeks to come.” 

🚨Memo from pga tour policy board pic.twitter.com/HWqJf58lYN

— Lauren Hirsch (@LaurenSHirsch) December 10, 2023

PGA Tour commissioner Jay Monahan said a week ago that he plans to meet with PIF Governor Yasir Al-Rumayyan sometime this week as the Dec. 31 deadline, which Monahan called a “firm target,”  looms.

Cover Image via Golfweek