Tiger Woods joined PGA Tour officials in New York, who met with representatives from Saudi Arabia's Public Investment Fund (PIF). The PGA Tour and new investors from Strategic Sports Group (SSG) hope to close a deal that would see PIF join SSG as a $1 billion investor. Both sides also hope to see professional golf united again.
The PIF, of course, funds LIV Golf, which is hosting its individual championship in Chicago this week, while the PGA Tour begins its FedEx Cup fall series on Thursday in Napa, California.
ESPN's Mark Schlabach They were the first to report the news of the meeting.
The two parties, along with DP World Tour, signed an initial framework agreement on June 6, 2023. The agreement set a deadline of December 31, 2023 for the parties to resolve all litigation between them and enter into a definitive agreement. However, that deadline has passed.
Two weeks ago at the TOUR Championship in Atlanta, PGA Tour Commissioner Jay Monahan said officials had not agreed to a deadline, adding, “We don't want to limit ourselves in that way.”
But Monahan said reaching an agreement had become a “higher priority” without providing any details or insight into the state of the negotiations.
“This is a direct result of dialogue and conversations and starting to discuss the future, the future product vision and where we can take the sport,” Monahan said in Atlanta on Aug. 28, 2024.
“I think having a productive conversation increases the likelihood of a positive outcome and the spirit of the conversation itself. I think that's where we are right now.”
Those conversations continued in New York this week, showing signs of progress.
Ironically, Monahan and PIF Governor Yasir Al Rumayyan announced the framework agreement live on CNBC's “Squawk on the Street” from CNBC's studios in Lower Manhattan, sending shock waves through the sports world.
Officials involved in the deal also met in New York during the second round of the Memorial Tournament in early June 2024, but Rory McIlroy had to join via Zoom. McIlroy is not in attendance this week, however; he's in Royal County Down for the Irish Open, but it's unclear if he's also telephoning in remotely this time.
Meanwhile, Schlabach reported that Woods is scheduled to meet this week in New York with Adam Scott, another member of the trade subcommittee. Joe Gorder, chairman of PGA Tour Enterprises and executive chairman of Valero, and John W. Henry, owner of Fenway Sports Group, are also in the discussions.
Jack Mirko is a golf staff writer for SB Nation Playing Through. Follow For more golf articles, follow us on Twitter Jack Mirko In the same way.
