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Yasir Al Rumayyan

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sports2 years ago

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

Senate calls on PGA Tour, LIV Golf, and Saudi officials to testify in hearing.

The US Senate Permanent Subcommittee on Investigations has invited PGA Tour Commissioner Jay Monahan, PIF Governor Yasir Al-Rumayyan and LIV Golf CEO Greg Norman to testify at a July 11 hearing on the planned agreement between the PGA Tour and the Saudi Arabian PIF. The invitation follows the June 12 launch of a Senate probe into the controversial deal between the PGA Tour and the Saudi Arabian Public Investment Fund to create a new company housing the commercial interests between the tour, the PIF’s golf-related holding (including LIV Golf) and the European Tour.

via The Athletic|
#jay-monahan#pga-tour#saudi-arabia
sports2 years ago

Billionaire F1 Team Owner's Wedding Sparks Golf Merger with PGA Tour and Liv Golf

The recent merger between the PGA Tour and the Saudi-backed LIV Golf tour has raised questions about how the two leaders, Jay Monahan and Yasir al-Rumayyan, will work together. Monahan, the PGA Tour commissioner, and al-Rumayyan, the chairman of the Public Investment Fund, have very different backgrounds and leadership styles. While al-Rumayyan will control the finances, Monahan will be the chief executive. The deal has been criticized as a money-over-morals transaction, but Monahan hopes it will lead to global growth in golf. The long-term role of Monahan as chief executive is uncertain, and it remains to be seen how the two leaders will manage the game of golf and get along.

via The New York Times|
#golf#jay-monahan#pga-tour
sports2 years ago

PGA Tour's Merger with LIV Golf Draws Mixed Reactions.

Despite being a critic of LIV Golf and refusing to join the Saudi-backed upstart, Rory McIlroy praised Yasir Al-Rumayyan, the director of the Saudi Public Investment Fund that owned LIV Golf and who will become chairman of the board of the new yet-to-be-named company resulting from the merger between LIV Golf and PGA Tour. McIlroy called Al-Rumayyan a "very impressive man" and noted his Harvard Business School background and experience running a multi-billion dollar investment fund.

via New York Post |
#liv-golf#pga-tour#rory-mcilroy
sports2 years ago

PGA Tour players divided over LIV Golf merger

Bryson DeChambeau, one of the first big names to sign up for LIV Golf, hopes PGA Tour players feel "valued" after the PGA Tour, DP World Tour, and LIV Golf League announced an agreement to form one unified commercial entity. The most aggrieved players are likely to be those who turned down eye-popping sums from LIV Golf to remain loyal to the PGA Tour, only to see the tours agree to work together. DeChambeau defended the backers of LIV Golf and in particular Yasir Al-Rumayyan, the governor of Saudi Arabia's Public Investment Fund who will chair the board of the new entity.

via ESPN|
#bryson-dechambeau#liv-golf#pga-tour