Major Golf Peace Deal: LIV Golf League Nearing £1 Billion Integration with PGA Tour
Reports from The Sun on November 2nd suggest a significant breakthrough in the golfing world, with a projected £1 billion settlement potentially bringing an end to the sport's internal strife.
The LIV Golf League, known for its rebellious stance and Saudi Arabian backing, is on the verge of integrating into the PGA Tour circuit. This move would see the Saudi Public Investment Fund, backers of LIV Golf, acquiring an 11% stake in the PGA Tour in exchange for a substantial financial contribution.
Key figures such as Tiger Woods and Rory McIlroy have reportedly played instrumental roles in facilitating these peace negotiations, indicating a positive outlook for the resolution. While the final approval lies with the PGA players, there is a widespread expectation that they will consent to this transformative agreement.
The Public Investment Fund's vast assets of £720 billion suggest that the reported £1 billion investment to integrate into the golfing community is a relatively modest sum for them.
This deal is poised to bring an end to the longstanding conflict between the PGA and LIV Golf League, which announced its breakaway circuit three years prior. Notably, LIV Golf managed to attract top golfing talent such as Phil Mickelson, Bryson DeChambeau, Brooks Koepka, Sergio Garcia, Lee Westwood, and Ian Poulter through lucrative contracts, reshaping the competitive landscape.
The agreement is expected to lead to LIV Golf's events falling under the PGA umbrella, potentially augmenting the prize money available to players. The DP World Tour is also expected to benefit through it’s strategic alliance with the PGA Tour.
