Fake or fact? PGA Tour and PIF are said to have agreed on one billion

There’s no getting around the news, even if it comes from a tabloid: According to a report in the British tabloid ‘The Sun’, the PGA Tour and the Saudi Arabian investment fund PIF have reached an agreement in their negotiations. Under the headline ‘Golf’s Civil War OVER’, David Facey writes that the Saudis have allegedly bought a one billion dollar stake in the Tour in return for an eleven per cent share and two board seats, including that of the chairman. The LIV Golf League events would continue to be organised by the PGA Tour. It is also said that Tiger Woods and Rory McIlroy played a decisive role in the agreement as members of the special negotiating committee. The deal still has to be approved by the Tour members, i.e. the players, but the DP World Tour will also benefit in a special way thanks to the strategic alliance, for example through financial injections for prize money.

Facey does not name any sources, of course. And there are also several other indications that the news is more fake than fact. For example, there is never any mention of PGA Tour Enterprises, but that is exactly what the slow-moving negotiations are all about: The PIF wants to become a minority investor in the new commercial venture, in which the Tour is offloading its silverware (tournament, licence and TV rights etc.) and which is already lavishly funded thanks to the Strategic Sports Group’s total of three billion. The naming of McIlroy and even more so LIV and PIF opponent Woods also seems more like name-dropping to generate clicks. Moreover, there is no mention of PGA Tour commissioner Jay Monahan and PIF boss Yasir Al-Rumayyan, who played the Aramco Team Series Pro-Am together at the LET in Riyadh last week. Last but not least, a question underlines the suspicion of a rather simplistic tabloid piece: where did the Sun, of all publications, get such information? The usual suspects, including the reputable US golf media, have not made a single sound in this regard so far.
(Written by Michael Basche)

Fake or fact? PGA Tour and PIF are said to have agreed on one billion

A tabloid claims Saudi PIF bought a major PGA Tour stake, but is it fact or fiction? Questions arise as Tiger Woods and Rory McIlroy are drawn into the story.