Tiger Woods explains why PGA Tour wants Saudi Public Investment Fund, LIV Golf merger to go through
Woods, a member of the PGA Tour board of directors, says merger conversations continue to be ‘fluid’As Tiger Woods made his return to the PGA Tour at his Genesis Invitational, he spoke to reporters Wednesday afternoon in Los Angeles about the state of the tour, specifically whether he believes negotiations with the Saudi Public Investment Fund should continue.
Simply put, Woods is in favor of a merger however it may happen.
“Ultimately, we would like to have PIF be a part of our tour and a part of our product,” Woods said at Riviera Country Club, according to Yahoo Sports. We’re in a position right now [where] hopefully we can make our product better in the short term and long term.”
The PGA Tour announced recently that Strategic Sports Group was investing up to $3 billion to launch PGA Tour Enterprises. It’s a deal that would allow players equity in the company and to compete with the rival LIV Golf tour. Simply put, Woods is in favor of a merger however it may happen.
“Ultimately, we would like to have PIF be a part of our tour and a part of our product,” Woods said at Riviera Country Club, according to Yahoo Sports.
“Financially, we don’t right now, and the money that they have come to the table with and what we initially had agreed to in the framework agreement, those are all the same numbers. Anything beyond this is going to be obviously over and above. However, Woods isn’t the only player who believes unification would benefit everyone in the game of golf. Jordan Spieth, a fellow board member with Woods, said it would be a “positive thing” if the merger were to go through, though it isn’t necessarily needed now after the SSG investment.
Despite the investment, negotiations are still ongoing.
