The Saudi PIF was the first to sign a merger with the PGA Tour back in June last year, and six months later both parties got into discussion to set up a framework agreement to create a new entity, the PGA Tour Enterprises, that will help professional golf evolve. Thus, it was quite expected that the PIF would invest in the new entity financially, but Wednesday’s announcement changed everything.
It said that Strategic Sports Group would be investing around $3 billion in the new entity, to which LIV CEO Greg Norman responded positively, saying that people should see this development in a way that will help LIV Golf in the future and subside all the negative thoughts surrounding it. After Norman, LIV Golf head Yasir Al-Rumayyan also wrote a letter to the golfers, which briefed them on the probability of future investment in the new entity. What did it say? Let’s take a look at that!
Yasir Al-Rumayyan Provides Hope For Future Investment In PGA Tour Enterprises
In the letter, Al-Rumayyan assured that the Saudi PIF will be making future investments in the new entity, which comes forth for the development of golf.
“Dear All,
Yesterday’s announcement of the formation of PGA Tour Enterprises is consistent with PIF’s longstanding passion to grow the game. PIF continues to discuss and evaluate the possibility of a future investment that benefits the greater game of golf.
PIF remains committed to investing in and supporting LIV and the team golf format that has brought new energy and so many new fans to the game around the world.”
Added to that, in the same letter, he continued, “The game of golf is only beginning to fulfill its potential. This is the vision we had when LIV was created, and today that is more alive than ever. LIV has transformed the sport, and we will continue to grow the game globally, expand its fanbase, elevate its platform, and maintain incredible momentum.
LIV has a great season ahead. Good luck at Mayakoba. I will see you all on the range soon.”
It is important to note that he affirmed the PIF’s investment in LIV and his optimistic approach towards the new season that begins with the LIV Golf Mayakoba. The circuit continues to attract new golfers and will organize 14 events this year. The PGA Tour also stated that the investment fund might make future investments as required.
As of now, the league has brought several big entities like Jon Rahm, and recently, Tyrell Hatton to the league. As LIV advances into its new season, the golf war seems to be back again, with little hopes for LIV Golf and the PGA Tour to join hands.
