Greg Norman breaks silence on £2.4bn PGA Tour deal as wait for LIV Golf merger goes on.
The PGA Tour have signed a groundbreaking deal with Strategic Sports Group this week – with an agreement with the Public Investment Fund of Saudi Arabia still looming
Greg Norman, the head of LIV Golf, has voiced his thoughts on the PGA Tour’s agreement with Strategic Sports Group (SSG), a US-based investor. Meanwhile, negotiations with the Public Investment Fund of Saudi Arabia (PIF) are still ongoing.
The PGA Tour recently made an official collaboration with SSG, which comprises the ownership group of Liverpool FC, Fenway Sports Group. As a result of this partnership, a staggering amount of £2.4 million ($3bn) will be invested in the game, allowing almost 200 players to become stakeholders in the company.
It came seven months after the American-based circuit had announced plans to align with PIF and the DP World Tour, in a bid to finally bring an end to their feud with their LIV Golf rivals.
For now it appears a deal with the Saudi fund has taken a back seat amid the partnership with FSG, but this is of no concern to Norman. On the back of the announcement on Tuesday, the LIV CEO penned a letter to his colleagues outlining the plans to continue to move the breakaway league forward.
“Let me make one thing very clear: nothing announced by other tours or investment groups changes LIV Golf’s positive trajectory or future plans,” the former world No. 1 wrote. “We started LIV Golf with the goal of creating something new, taking the game to a global, diverse audience and driving innovation while growing golf’s fanbase.
“More investment in golf is a great thing for the game and for us. It’s a positive development for our players, our fans, and for the long-term future of the game. Golf is now viewed as an asset class. We proved this was possible and are now in a unique position to mold and drive this incredible growth opportunity.
“This broader interest and commitment to the game, and investment in its future, would not have happened without the emergence of LIV Golf as an innovative force in the golf ecosystem. We are moving full steam ahead and expanding on the incredible success we have already achieved in a very short time. I have never been more confident in the league, the people involved, and our supporters all over the world.’”
A deal between the PGA Tour and PIF is still expected to go through, despite those involved missing their December 31 deadline to sign off the agreement in recent weeks.
Many people are hopeful that the pending agreement will lead to players from both sides reuniting, which is something that Bryson DeChambeau, a loyal supporter of LIV, has advocated for. DeChambeau acknowledged the significant investment made by SSG into the game of golf.
Both entities will continue to experience growth, and it is my hope that they will eventually reunite. It is necessary for this to occur and I hope individuals can set aside their differences and engage in productive discussions, as this would be beneficial for the sport of golf and its fans. Nonetheless, any added investment in golf is always advantageous, as I have consistently expressed.
