PGA Tour consider fresh cash plan to smooth over LIV Golf merger
The PGA Tour is seemingly putting together a contingency plan amid the continued uncertainty around the LIV Golf merger.
It was back on June 6 when news first emerged that the PGA Tour and DP World Tour had announced plans to merge with the Public Investment Fund of Saudi Arabia (PIF). Since then there has been increased uncertainty over what the future of golf will look like, as the feud between the PGA Tour and LIV continues.
A number of golf’s biggest stars left the PGA Tour to sign up for LIV in 2022. Such players to join the Saudi-funded breakaway league include Brooks Koepka, Dustin Johnson, Sergio Garcia, Ian Poulter and Bryson DeChambeau.
Since the announcement of the merger, questions continue to be asked over what will exactly happen. And now a fresh report from Bloomberg has provided some fresh insight into what the PGA Tour appears to be planning.
According to the report, the PGA Tour are speaking to “high-profile” US investors in order to finance the merger with LIV Golf. It’s been claimed that such investment is being seeked in order to avoid “political opposition” to the deal with PIF.
Bubba Watson shares details of horror knee injury ahead of LIV Golf debut
The article goes into further detail as claims that the PGA Tour says that it has received “unsolicited interest” from investors over financing the deal. It remains to be seen, though, who the investors are and how much money would be involved.
A separate report from Forbes states that a US investor claims that the PGA Tour want further investment in case players on the tour vote down the merger with LIV Golf. The unnamed investor is quoted as having said: “The PGA needs the money.”
PGA Tour commissioner Jay Monahan recently spoke about the negotiations with PIF and how he remains committed to ensuring a deal gets finalised. Monahan did not hint at any financial backing from US investors when speaking in a press conference on August 22.
“Right now my focus is on the negotiations with PIF,” Monahan said last month. “That’s where all my energy and attention is.
“I think the realisation that there is an entity that can be invested into at the PGA Tour and the uniqueness of being able to invest into a professional sports league of the calibre, quality and sustainability of the PGA Tour, obviously has generated a lot of interest. But, in terms of alternatives, the sole conversation that we’re having is the conversation we’re having with PIF.”
Read more similar news:
Comments:
comments powered by Disqus
