The deal between the PGA Tour and the Saudi PIF in June was revamped into a new one on Wednesday as Strategic Sports Group is now investing a whopping $3 billion in the PGA Tour’s latest entity. Also, the SSG has made an initial investment of $1.5 billion and it doesn’t seem like the PIF is required right now to provide any financial backing. But still, there are chances that the PIF will make future investments.
But Jordan Spieth, who is a member of the PGA Tour Policy Board, doesn’t think that any further investment is required. Let’s see what he has to say on the matter.
Jordan Spieth Doesn’t Think That The PIF Will Be Making An Investment In The PGA Tour Venture
In an interview, Jordan Spieth stated that he doesn’t think the PIF deal is needed.
“I don’t think that it’s needed…I think the positive [of a deal with PIF] would be a unification [of PGA Tour and LIV players], but I just think it’s something that is almost not even worth talking about right this second…The idea is that we have a strategic partner that allows the PGA Tour to go forward the way that it’s operating right now without anything else.”
The golfers who are currently playing at the AT&T Pebble Beach Pro-Am are positive about the development and they are considering that the tour did right by them by not relying on the PIF entirely. Russell Henley thinks it’s a positive thing but the tour still loses golfers. Recently, Tyrell Hatton defected to LIV Golf to join Legion XIII with Jon Rahm. Lucas Herbert has also defected to the Saudi-backed league.
On the other hand, staunch PGA Tour loyalist Rory McIlroy has become lenient about the LIV circuit and thinks that the tour can welcome the LIV players back to his circuit without imposing charges on them. On this, Spieth thinks people have mixed ideologies.
“That’s Rory’s viewpoint. I could name some guys with the same viewpoint; I could name some guys with a totally opposite viewpoint. So it’s certainly mixed on how players feel about that.”
As per previous discussions, PIF was supposed to hold a minority stake but the PGA Tour isn’t willing to give it a thought presently. Spieth stated,
“From where I sit, which is hopefully representing our entire membership, it matters how they feel about the entire situation…not beyond SSGs and they feel it would be a good idea, I think that’s where the discussions will start.”
The PIF is on hold and the PGA Tour hasn’t decided on whether to take the relationship forward or not.
