All articles tagged with #pif
Originally Published 3 months ago — by 404 Media
U.S. Senators express concerns over Saudi Arabia’s $55 billion acquisition of EA, citing risks of foreign influence, national security, and potential loss of editorial independence, amid broader Saudi investments in entertainment and sports as part of its Vision 2030 strategy.
Originally Published 3 months ago — by BBC
Saudi Arabia's Public Investment Fund is acquiring EA for $55 billion, a move seen as part of its strategy to enhance soft power and diversify its economy beyond oil, with significant implications for the gaming industry and geopolitical influence.
Originally Published 3 months ago — by Axios
Saudi Arabia's Public Investment Fund is backing the largest buyout ever, acquiring a stake in Electronic Arts, as part of its broader strategy to diversify its economy and establish itself as a cultural and entertainment hub, investing heavily in gaming, sports, and media industries while balancing geopolitical and human rights concerns.
Originally Published 3 months ago — by Electronic Arts Home Page
Electronic Arts (EA) is set to be acquired by a consortium of PIF, Silver Lake, and Affinity Partners for $55 billion in an all-cash deal, representing the largest sponsor take-private investment in history, with EA's stockholders receiving $210 per share, a 25% premium. The deal aims to accelerate EA's growth and innovation in entertainment, with the transaction expected to close in Q1 FY27, subject to regulatory approvals and shareholder consent.
Originally Published 3 months ago — by Electronic Arts Home Page
Electronic Arts (EA) is set to be acquired by a consortium of PIF, Silver Lake, and Affinity Partners for $55 billion in an all-cash deal, representing the largest sponsor take-private investment in history, with EA stockholders receiving $210 per share, a 25% premium. The transaction aims to accelerate EA's growth and innovation in entertainment, with the deal expected to close in Q1 FY27 pending regulatory and shareholder approval.
Originally Published 1 year ago — by NBC Sports
Golfer Rory McIlroy believes that the LIV Golf CEO and others have misrepresented Saudi investors, expressing hope for a better understanding between the PGA Tour and the Public Investment Fund (PIF) of Saudi Arabia. He welcomes the upcoming meeting between player directors and PIF, emphasizing the importance of a potential deal and the inclusion of team golf in the Tour landscape. McIlroy urges patience and confidence in the eventual completion of the deal, highlighting the PIF's interest in long-term, secure investments.
Originally Published 1 year ago — by GolfDigest.com
Jordan Spieth confirmed that player directors on the PGA Tour's Policy Board are being encouraged to meet with the head of Saudi Arabia's Public Investment Fund, Yasir Al-Rumayyan, with a potential meeting tentatively scheduled for Monday. This comes after PGA Tour commissioner Jay Monahan stated that negotiations with PIF are making progress, but he cannot share specific details.
Originally Published 1 year ago — by GolfDigest.com
PGA Tour commissioner Jay Monahan spoke at a press conference, expressing optimism about negotiations with PIF, emphasizing the importance of a deal, addressing fan concerns about televised golf, and discussing the potential impact of player defections to LIV Golf. He also clarified the tour's stance on Anthony Kim and hinted at the possibility of team golf. Additionally, Monahan hinted that Tiger Woods would need to earn his way into competitions, indicating that the obstacle isn't the Tour, but Tiger himself.
Originally Published 1 year ago — by ATP Tour
ATP and Public Investment Fund (PIF) have announced a multi-year strategic partnership aimed at enhancing global tennis, with PIF becoming the official naming partner of the ATP Rankings and partnering with ATP Tour events in various locations. The collaboration will focus on developing opportunities for young players, fostering inclusivity, and driving sustainable innovation in tennis, aligning with PIF's broader vision to enhance quality of life and drive transformation in sport.
Originally Published 1 year ago — by The Guardian
Tiger Woods asserts that the PGA Tour is not dependent on investment from Saudi Arabia's Public Investment Fund, emphasizing the tour's $3bn deal with Strategic Sports Group and the substantial equity it offers to players. Woods and Jordan Spieth believe that the PIF's involvement is unnecessary at present, despite ongoing negotiations, and express confidence in the tour's current financial position. Meanwhile, LIV, the Saudi-backed golf circuit, continues to attract players like Jon Rahm from the PGA Tour, as Woods gears up for the Genesis Invitational ahead of the Masters.
Originally Published 1 year ago — by ESPN
Tiger Woods stated that negotiations with Saudi Arabia's PIF for investment in the PGA Tour are ongoing, expressing openness to the idea. The PGA Tour recently reached a deal with Strategic Sports Group for potential injection of $3 billion, and plans to grant over $1.5 billion in equity to players. Woods also discussed potential pathways back to the PGA Tour for players who joined the LIV Golf League, and his own return to the tour after undergoing fusion surgery.
Originally Published 1 year ago — by New York Post
Golfer Jordan Spieth believes the PGA Tour's new partnership with Strategic Sports Group (SSG) may make a deal with Saudi Arabia’s Public Investment Fund (PIF) unnecessary, as SSG's $3 billion investment allows players to become equity holders in PGA Tour Enterprises. While Spieth sees potential for a future partnership with PIF and LIV Golf, the deal with SSG has made players owners and could impact negotiations with PIF. The ongoing dialogue with PIF is supported by SSG, but the impact of the SSG deal on these negotiations remains unclear.
Originally Published 1 year ago — by ESPN
Golfer Jordan Spieth believes a deal with Saudi Arabia's Public Investment Fund (PIF) is unnecessary following a $3 billion partnership with Strategic Sports Group (SSG) that will allow PGA Tour members to become equity holders in PGA Tour Enterprises. While some players, including Rory McIlroy, advocate for the return of LIV Golf players without punishment, others, like Christiaan Bezuidenhout, oppose it. The potential PIF alliance is still uncertain and subject to regulatory review, but Spieth remains optimistic about the future of the PGA Tour.
Originally Published 2 years ago — by PGA TOUR
PGA TOUR Commissioner Jay Monahan updated players on the ongoing negotiations with Strategic Sports Group (SSG), the Public Investment Fund (PIF), and the DP World Tour. The TOUR is making progress with SSG and is working on finalizing terms, while actively seeking to extend the expiring Framework Agreement with PIF and DP World Tour into the new year. The goal is to have SSG, PIF, and DP World Tour as minority co-investors in PGA Tour Enterprises by 2024, aiming to unify and innovate the game. The update comes as players gather in Maui for The Sentry event, which starts the 2024 PGA TOUR season.
Originally Published 2 years ago — by PGA TOUR
The PGA TOUR Policy Board has chosen Strategic Sports Group (SSG) to continue negotiations with as talks with the PIF progress. SSG, a consortium of U.S.-based professional sports team investors, was selected after a thorough review of final proposals from various outside investors. The Board also expressed confidence in reaching a positive outcome for all players and the PGA TOUR as a whole.