The agreement between the PGA Tour and LIV Golf is close to being a reality, thanks to the 1,000 million pounds (1,192,520,000 euros) that the Public Investment Fund of Saudi Arabia (PIF) would be willing to provide, according to information published by The Sun, to join the PGA Tour circuit.
This outlay would give the PIF, which manages the LIV circuit, an 11 percent stake in the PGA Tour. He would also obtain two positions on the board of directors, including the position of president. The deal still has to be approved by the players.
According to The Sun, Tiger Woods and Rory McIlroy have been two of the protagonists of this agreement being about to materialize. McIlroy already gave a warning this past August when he was critical of the lack of progress in finding a solution: “I think anyone who cares about golf should feel frustrated. I think anyone who cares about the PGA Tour “You must be frustrated because we, the royals, are not offering the best product possible. I think this has gone on too long.”
McIlroy also put the focus on the players on the eve of the BMW Championship when, in a press conference, he pointed out that it was the only brake on closing the agreement: “I think the circuits want the agreement to happen. The investors undoubtedly want it to happen because “They can see the benefits for themselves. But, right now, it’s the Department of Justice and the different opinions of the players that are holding it back.”
The agreement would put an end to three years of disputes after the arrival of LIV Golf and the departure of a good number of players to this circuit. The LIV tournaments would now become part of the PGA Tour. For their part, the golfers who stayed on this circuit would be rewarded with an injection of money that would go to the 1.2 billion fund created this year. The DP World Tour (European circuit) would also benefit by seeing an increase in the money it awards in prizes.
Jon Rahm, during the last Estrella Damm NA Andalucía Masters, was already hopeful that an agreement could be reached: “I don’t dare say anything, but I am optimistic. Hopefully there will be some arrangement and we will reach a more friendly environment “.
