TIGER WOODS “VERY ENGAGED” IN PGA-PIF DEAL ACCORDING TO FORMER US OPEN CHAMPION
Tiger Woods took an active role in hosting a meeting with Yasir Al-Rumayyan, governor of the Saudi Public Investment Fund (PIF), regarding potential investments in PGA Tour Enterprises, as confirmed by PGA Tour player director Webb Simpson.
The gathering, held in the Bahamas, aimed to expedite discussions between the PGA Tour and the backers of LIV Golf, notably the Saudi PIF, in their pursuit to unify the professional golfing landscape. Alongside Woods and Simpson, fellow player directors Patrick Cantlay, Adam Scott, Jordan Spieth, and Peter Malnati attended the meeting, along with newly-appointed board liaison Joe Ogilvie and PGA Tour commissioner Jay Monahan. Notably, John Henry, principal owner of Liverpool FC and an investor in Strategic Sports Group (SSG), was also present.
Woods and Al-Rumayyan even managed to squeeze in a round of golf at Albany amid their discussions. Simpson emphasized Woods’ significant engagement throughout the process, highlighting his leadership within the group.
The PGA Tour and PIF initially announced a framework agreement on June 6, 2023, with a deadline of December 31, 2023. Despite the extension of the deadline, Simpson stressed the importance of the meeting with PIF, considering the recent $3 billion private equity deal with SSG.
While Simpson acknowledged the positive tone of the meeting with Al-Rumayyan, he cautioned that a merger between the entities is still a considerable distance away. Malnati echoed similar sentiments, expressing optimism about collaboration while recognizing the divergent visions between the PGA Tour and PIF.
In summary, the meeting showcased Woods’ active involvement and leadership, signaling ongoing efforts to navigate the complexities of potential investment and collaboration within the professional golfing sphere.
