The PGA Tour has revealed that its planned merger with Saudi-backed LIV Golf and the DP World Tour has attracted unsolicited interest from investors. While the PGA Tour is in the process of finalizing an agreement with the Public Investment Fund (PIF) and the DP World Tour, it acknowledges its responsibility to members, sponsors, and fans to evaluate all potential options.
The PGA Tour clarified that any investments resulting from these discussions would be made into PGA Tour Enterprises, a subsidiary that the PGA Tour would permanently control. This development comes as the proposed merger has raised concerns from some politicians who fear it could lead to a takeover of a US institution by LIV Golf, funded by the PIF.
The PGA Tour emphasized that the additional investor interest is not driven by political considerations but is due to the creation of an investment vehicle in PGA TOUR Enterprises, indicating the strength of its business.
Negotiations with the Public Investment Fund of Saudi Arabia and the DP World are said to be progressing, with the goal of reaching a definitive agreement by December 31. In June, the PGA Tour, DP World Tour, and LIV circuit had announced their intention to merge and form a unified commercial entity.
