LOS ANGELES — In the heart of the professional golf world, Tiger Woods, a prominent figure in the sport, recently discussed the potential involvement of Saudi Arabia’s Public Investment Fund (PIF) in the PGA Tour. Woods, a player director on the PGA Tour’s policy board, expressed openness to PIF as a potential investor, citing ongoing negotiations.
Woods shared his vision during a press conference before The Genesis at Riviera Country Club, emphasizing his desire for PIF to become part of the tour. He highlighted the financial aspects, including the initial agreement and potential additional investments, as crucial for enhancing the tour’s short-term and long-term prospects.
The PGA Tour’s journey towards this collaboration involved a framework agreement with the DP World Tour and the PIF, aiming to establish PGA Tour Enterprises. However, after missing the initial deadline, the PGA Tour reached a separate deal with Strategic Sports Group (SSG), a consortium of billionaire sports team owners, which could infuse substantial funds into the new entity.
This potential partnership with PIF could add significant investment to PGA Tour Enterprises, potentially paralleling SSG’s contribution. The PGA Tour communicated to its players that equity worth over $1.5 billion would be distributed among current, past, and future members, creating a sense of shared ownership and commitment.
Woods underscored the importance of top-tier talent for delivering excellent entertainment in golf and maintaining the tour’s rich traditions and accessibility. He commended SSG’s role in providing strategic guidance and lauded the consortium’s impressive leadership, which includes prominent sports team owners. This collaboration aims to elevate the tour to new heights through innovative ideas and strong leadership.
Regarding the return pathways for players who joined the LIV Golf League, Woods described it as a complex and evolving discussion, with no definitive answers yet. He highlighted the ongoing exploration of various models to determine the best approach for the tour’s future.
Throughout the negotiations with PIF, Woods noted that their objectives have evolved, reflecting the dynamic nature of these discussions. He refrained from categorizing these changes as either positive or negative, instead emphasizing the fluidity of the situation.
Woods, preparing for his return to the PGA Tour following recovery from fusion surgery, spoke about the challenges of adapting to his body’s changes and getting tour-ready. His focus remains on managing the physical demands of professional golf and ensuring his readiness for upcoming events.
