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Saudi Arabian Public Investment Fund

All articles tagged with #saudi arabian public investment fund

sports1 year ago•3 min saved

Scott O'Neil to Succeed Greg Norman as LIV Golf CEO

LIV Golf is set to appoint Scott O'Neil, a seasoned sports and entertainment executive, as its new CEO, replacing Greg Norman. O'Neil, who has previously led Harris Blitzer Sports & Entertainment and Merlin Entertainments, will navigate LIV through ongoing negotiations between the PGA Tour and the Saudi Arabian Public Investment Fund. The transition comes amid LIV's evolving global schedule and challenges in securing a U.S. TV carrier. Norman, the league's original CEO, will remain on the board of directors.

via The Athletic|

#greg-norman #liv-golf #pga-tour

sports1 year ago•2 min saved

"Rahm's Move to LIV Sparks PGA Tour, PIF Deal"

Jon Rahm expressed disappointment that his move to LIV Golf did not prompt a quicker unification between the PGA Tour and the Saudi-backed league, despite hoping it would spark progress. The reigning Masters champion believed his decision to join LIV Golf could have been a tipping point for the game, but acknowledged that the process is not within his control. Rahm's move to the rival league has not led to significant changes in the golf landscape, with the sport remaining divided between the PGA Tour and LIV Golf.

via The Athletic|

#golf #jon-rahm #liv-golf

sports2 years ago•2 min saved

PGA Tour Commissioner Optimistic About LIV Golf Saudi PIF Agreement

PGA Tour Commissioner Jay Monahan provided updates on the tour's framework agreement with the Saudi Arabian Public Investment Fund (PIF), expressing confidence in reaching a deal. The agreement aims to unite professional golf and create an investable entity for PIF. Specific details were not disclosed, but discussions with PIF occur weekly, and the focus is on striking an agreement before the end of 2023. The future of professional golf beyond 2024 remains uncertain.

via SB Nation|

#framework-agreement #future-of-professional-golf #liv-golf

sports2 years ago•2 min saved

"PGA Tour Commissioner Jay Monahan's Health Revelation and Return Date"

Jay Monahan, Commissioner of the PGA Tour, will return to his post on July 17 after disclosing a health issue that sidelined him. Despite being invited to testify before the United States Senate regarding the PGA Tour's deal with the Saudi Arabian Public Investment Fund (PIF), Monahan declined due to his health concerns. The Department of Justice is investigating the agreement for possible antitrust violations. Monahan will face questions about the future of LIV Golf and the legal battles the tour has faced, including a lawsuit involving Tiger Woods.

via SB Nation|

#congressional-testimony #jay-monahan #liv-golf

sports2 years ago•2 min saved

Uncertainty looms over PGA Tour's future amid Saudi LIV Golf deal

The future of LIV Golf, a rival tour to the PGA Tour, is uncertain as conflicting messages emerge. While a framework agreement between the PGA Tour and the Saudi Arabian Public Investment Fund (PIF) suggests that the PGA Tour will have control over LIV Golf's future, PIF governor Yasir Al-Rumayyan reportedly assured team captains that LIV Golf is here to stay. The meeting took place at the Valderrama Golf Club in Spain, where LIV Golf is currently playing. The mixed messages from key stakeholders leave the future of professional golf uncertain.

via SB Nation|

#jay-monahan #liv-golf #pga-tour

sports2 years ago•2 min saved

"PGA Tour's Power Struggle: Who Really Controls LIV Golf Amid Saudi PIF Deal?"

The PGA Tour officials have asserted that they will have complete control over professional golf despite the agreement with the Saudi Arabian Public Investment Fund (PIF) and the creation of LIV Golf. The PGA Tour will be in charge of operations, not PIF, and the newly established entity between the PGA Tour and PIF, called "NewCo," will assess LIV Golf's prospects. The PGA Tour also has the power to reinstate player memberships for those who defected to LIV Golf. The agreement signifies that the PGA Tour would not have done business with the Saudi Arabians under any other circumstances.

via SB Nation|

#control #liv-golf #pga-tour

sports2 years ago•3 min saved

Jon Rahm speaks out on PGA Tour's controversial deals and player betrayal.

Jon Rahm expressed his frustration and feeling of betrayal towards PGA Tour management for keeping the Saudi Arabian Public Investment Fund (PIF) deal a secret. Despite his frustrations, Rahm feels blessed for the opportunities golf has presented him. He is confident that he can win the U.S. Open for the second time in three years.

via SB Nation|

#golf #jon-rahm #pga-tour

sports2 years ago•2 min saved

PGA Tour forced into LIV merger due to Saudi funds, says commissioner

PGA Commissioner Jay Monahan reportedly told employees that the tour could not compete with the Saudi Arabian Public Investment Fund's unlimited funds, which led to the merger with LIV Golf. The PGA had already spent $50 million in legal fees and earmarked another $100 million for higher purses in its tournaments. The merger ends all pending litigation involving the PGA, LIV, and DP World Tour. Despite the PGA's superstars remaining loyal to the tour, Monahan not only merged with the PGA's former rival, but the PIF will also be contributing a significant financial investment in the deal.

via Fox News|

#competition #liv-golf #merger

sports2 years ago•2 min saved

PGA-LIV Merger Controversy: Betrayal, Forgiveness, and Job Losses

New details have emerged about the deal between the PGA Tour and the Saudi Arabian Public Investment Fund (PIF), revealing that PGA Tour Commissioner Jay Monahan will oversee both the PGA Tour and LIV Golf once the agreement is finalized. This means that Monahan can disband LIV if he wants to and also approve the reinstatement of former PGA Tour professionals if he so desires. The report also notes that the only promise made between PGA Tour and PIF officials is a “right to refusal,” meaning many unknowns still exist.

via SB Nation|

#greg-norman #jay-monahan #liv-golf