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Mark Schlabach
The PGA Tour wants one Premier Circuit to work in a professional male golf.
Saudi Arabia in the field of public investment fund wants two – and therefore the parties seem to be back to Ground Zero on the reunification of sport.
Sources have confirmed ESPN that the PGA Tour refused to invest the latest PIF offer to invest $ 1.5 billion in the PGA Tour Enterprises, the profit entity of a tour that came up with the reservation that the competing Golf League would remain unaffected.
The PIF, which has financed Liv Golf since its foundation in 2022, wants its governor Yasir al-Rumayyan to serve as co-chairman of the board of PGA Tour Enterprises. Former CEO Valero Energy Joe Gorder is Chairman of the Board of PGA Tour Enterprises and Tiger Woods It serves as a vice -chairman.
The London Rangers reported that the PGA tour was replied to PIF in Monday’s letter.
The sources previously said ESPN that Liv Golf League continuing in its current form was for the PGA Tour, which prefers the highest golfers in the world to compete on one circuit.
Sources said PIF was dug into negotiations in their heels and wanted a team golf to be part of a future sport ecosystem if the parties reach an agreement. The PGA tour tried to offer a PIF solution that would include a LIV Golf iteration in future schedule, such as team competitions in international places in autumn.
“We will not do so in a way that reduces the power of our platform or the real dynamics we have with our fans and our partners,” said PGA Tour Commissioner Jay Monahan at the players’ championship last month. “So even though we have removed some obstacles, others remain. But like our fans, we still share the same sense of urgency to get to the solution.”
The latest correspondence comes at the heels of a four-hour meeting of pages in the White House 20 February, including al-Rumayyan, Monahan, Woods and PGA Tour Director Adam Scott. US President Donald Trump had previously met Monahan and Scott in Washington 4 February.
The published reports indicate that PIF will inject $ 5 billion to LIV Golf by the end of this year. The district celebrating 54-hole tournaments, no cuts, shotguns and Team Golf tried to get in the US on the basis of sponsors and television reviews.
Before this week Liv Golf League tournament in Trump National Doral in Miami, Liv Golf League captain Brooks Koepka He admitted that he hoped that the district would be further in the fourth season.
Koepka was one of several PGA Tour stars lured Liv Golf with guaranteed contracts worth more than $ 100 million. Past the main champion Bryson Brazambeau, Dustin Johnson, Jon Rahm and Cameron Smith He is one of the others who left the PGA tour and were suspended by Monahan.
The financial records submitted by the United Kingdom Liv Golf, which operates its tournaments outside the US, indicated that in 2023 it had almost $ 400 million in operating losses. Financial records of the US events were not available.
The new CEO Liv Golf Scott O’Neil told reporters on Tuesday that his league did not have to conclude an agreement with the PGA Tour to survive.
“If an agreement can help expand the golf game, I will jump with two legs,” O’Neil said. “Do we have to do an agreement? No. It would be nice to make an agreement if we all focus on the same things.
“So we have to make an agreement or need an agreement, any word you use, leave someone smarter than me. I say I love what we do, I love our prospects. I love growth in three months. I know what comes in the next three months. And I love where we are.”
O’Neil is not involved in the PIF meeting with the PGA tour.
“The reality of the world is that I see Liv Golf League with a lot of hope and a lot of future,” said O’Neil Espn. “I hope we’ll find a way to get more opportunities to play the best players in the world. It doesn’t have to be in a nice, neat bun, or it could be. We’ll see.”
The PGA and PIF tour were sued at the Federal Court, but the litigation was canceled when 6 June 2023 signed a framework agreement to create an alliance that would return the sport again. This agreement expired at the end of 2023, but the parties have tried to exclude the agreement in the last two years.
In January 2024, the PGA Tour and Strategic Sports Group, the American consortium for sports teams, and more, an agreement to invest up to $ 1.5 billion in PGA Tour.
