The PGA Tour has issued an official note this Saturday confirming the negotiations it has opened with PIF (Public Investment Fund of Saudi Arabia). Specifically, the American circuit points out that “the Transactions Subcommittee of PGA TOUR Enterprises held an in-person negotiation session on Friday night with the Public Investment Fund (PIF) and the Governor of the PIF Yasir Al-Rumayyan, according to a statement issued by the Transactions Subcommittee“.
“As previously indicated, our negotiations with the Public Investment Fund have accelerated in recent months. Representatives of the Transactions Subcommittee of PGA TOUR Enterprises and the PIF have met several times a week to work on the possible terms of the agreement and reach a shared vision about the future of professional golf”, said the Transactions Subcommittee of PGA TOUR Enterprises, composed of seven people, in a joint statement.
“On Friday night, an in-person session in New York City included the entire Transactions Subcommittee and Governor of the FIP Yasir Al-Rumayyan and his team, where further progress was made”, he added. The Transactions Subcommittee of PGA TOUR Enterprises, which is involved in direct negotiations with the FIP, includes three active players from the PGA TOUR – Rory McIlroy, Tiger Woods and Adam Scott – and four additional members of the PGA TOUR Enterprises Board:
· Jay Monahan, Commissioner of the PGA TOUR and CEO of Enterprises
· Joe Gorder, President of PGA TOUR Enterprises
· John W. Henry, director of Fenway Sports Group and manager of Strategic Sports Group
· Joe Ogilvie, former PGA TOUR winner and Liaison Director of the PGA TOUR Enterprises Board
Rory McIlroy, who is currently competing in the Memorial Tournament, joined the meeting online. “We remain committed to these negotiations, which require working through complex considerations to better position golf for global growth”, said the Transactions Subcommittee in the statement. “We want to do this right, and we are approaching the discussions with careful consideration for our players, our fans, our partners and the future of the game”, he concluded.
