Particle.news
Download on the App Store
9 ARTICLES
·
3w ago

PGA Tour Rejects $1.5 Billion Saudi Investment as Merger Talks Stall

Negotiations between the PGA Tour and LIV Golf remain deadlocked over governance and the future of the Saudi-backed league.

A PGA Tour flag near the putting green during the final round of the Simmons Bank Open for the Snedeker Foundation at The Grove on September 17, 2023 in College Grove, Tennessee.
Image
Al-Rumayyan, the Newcastle United chairman, does not want LIV to become an add-on to the established tour
Image

Overview

  • The PGA Tour has turned down a $1.5 billion investment offer from Saudi Arabia’s Public Investment Fund (PIF), citing concerns over LIV Golf's continued operation and governance demands.
  • LIV Golf's unique format, including team-based play and guaranteed contracts, continues to divide opinions within the golf community.
  • Phil Mickelson argues that LIV Golf appeals to younger audiences and offers a more relaxed and innovative experience compared to traditional PGA Tour events.
  • Nick Faldo criticizes LIV Golf's structure, claiming its lack of cuts and guaranteed payouts undermine competitiveness and make players 'soft.'
  • Former President Donald Trump remains involved in efforts to facilitate a merger, expressing optimism about a potential unification of the two tours.