Doubts about the PGA Tour’s Saudi Arabia deal surface as a former major winner speaks up.
The Public Investment Fund of Saudi Arabia and the PGA Tour are still in negotiations, but there are growing concerns about the agreement’s finalization.
Davis Love III, a former major champion, has expressed skepticism regarding the possibility of the Public Investment Fund of Saudi Arabia (PIF) and the PGA Tour reaching a framework agreement by the deadline of December 31.
In June the PGA Tour confirmed it had reached an initial agreement with PIF, that would see them work in unison with their LIV Golf rivals, as well as their DP World Tour allies. After entering negotiations, the two sides were handed an end-of-year deadline to sign off on the deal.
As it stands, though, it seems that things are not going as smoothly as initially anticipated, with Love being the most recent well-known celebrity to voice concerns about the Tour’s business in Saudi Arabia.
Speaking with Golfweek, the 1997 PGA Championship winner was asked whether he felt the deal would be completed before the December 31 cut off, to which he responded: “I don’t see any way.” The American also alluded to the slow pace of the ongoing negotiations. “The only thing I do know is nothing is going to happen really fast,” he added. The initial announcement left the world of golf in shock, after the PGA Tour had spent over a year attempting to thwart the Saudi state’s growing impact in the game, including the rise of LIV.
Now Jay Monahan and co have opted to team up with their former rivals, and one of the Tour’s longest-standing players believes it is in fact the Saudis that are halting proceedings. “It’s just like the lawsuit: we’re never going to go to trial if they don’t ever do discovery. Our staff and players did discovery. They [PIF} refused.
The PGA Tour made an offer, and we are unable to make another one if you don’t get back to us. What’s happening is strange. It’s far away from everything. Sharks are circling around. These days, everybody wants to make PGA Tour investments. Love noted that the Saudi fund and other competing investors are keen to work with the Tour, and that the Tour’s playing members have been informed of this in a memo earlier this month.
The memo, as obtained by ESPN, stated: “We are still committed to coming to a Definitive Agreement with PIF and the DP World Tour. However, it is not surprising that several other interested investors have reached out to us with unsolicited proposals. This entire endeavor highlights the Tour’s powerful