PIF and Pga, the deadline could be passed

For several months, the PGA Tour and DP World Tour have been engaged in discussions with PIF, backers of LIV Golf, regarding a proposed alliance aimed at merging golf's various factions into a single lucrative entity.

by Andrea Gussoni
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PIF and Pga, the deadline could be passed
© Andy Lyons / Getty Images Sport

For several months, the PGA Tour and DP World Tour have been engaged in discussions with PIF, backers of LIV Golf, regarding a proposed alliance aimed at merging golf's various factions into a single lucrative entity. However, English site bunkered.co.uk has learned that the deadline set when the merger was announced on June 6 could be pushed back due to complications in the deal currently being negotiated.

Although December 31 remains the target, internal sources admitted the possibility of an extension, stressing that the main thing was to reach a comprehensive agreement that satisfied all parties involved.

Pif, agreement

The commissioner of the PGA Tour, Jay Monahan, was optimistic last August about a “positive outcome” of the confidential discussions.

In-depth discussions have since taken place between the tours and officials of the Saudi Arabian Public Investment Fund, with the belief within the PGA Tour that the parties "will reach an agreement in the best interests of the tour and of its players.

» However, one obstacle remains: interest from outside companies seeking to invest in the PGA Tour. Recently, Endeavor, the American entertainment group that owns WWE and UFC, saw its strategic partnership proposal rejected.

“We asked (the PGA Tour) for $25 million a year in services, and if they had agreed, we would have been happy to make a minority investment,” explained Mark Shapiro, president of Endeavor. But we understand, they had a lot of suitors, a lot of attractive offers, and they refused.

We will therefore continue our long-standing partnership as is, with the hope of developing it in the future. » The initial framework agreement gave the PIF a “right of first refusal” on any new capital raised by the new for-profit organization, which has not yet been created and for which negotiations are still ongoing.

That interest has made negotiations more difficult, but the possibility of additional investment is still welcomed by the PGA Tour as a testament to the tour's burgeoning value. Although a deal is slowly approaching, the PGA Tour and LIV Golf will continue to operate separately in 2024.

Pga Tour DP World Tour Liv Golf
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