Home Sport Tiger Woods ist mit der Finanzierung der PGA durch saudisches Blutgeld einverstanden

Tiger Woods ist mit der Finanzierung der PGA durch saudisches Blutgeld einverstanden

von NFI Redaktion

After years of foregoing the big money from LIV Golf, Tiger Woods said he is not opposed to the Public Investment Fund of the Saudi government becoming an investor in the PGA Tour.

Woods was asked about the PIF during a press conference before The Genesis at Riviera, marking his first return to the tour since the 2023 Masters.

“Ultimately, we want PIF to be part of our tour and part of our product,” Woods said. “Financially, that’s not the case right now, and the funds they’ve provided and what we originally agreed upon in the framework agreement are all the same numbers. Anything above that will obviously be overreaching. We are just able [where] hopefully we can improve our product in the short and long term.”

Taking money from the Saudi government was a major ethical sticking point for some PGA Tour players. Phil Mickelson, the first defector from LIV Golf, knew this as he struck the deal with LIV according to an excerpt from a biography of Alan Shipnuck about the left-handed golfer.

“It’s scary to get involved with them,” said Mickelson. “We know they killed [Washington Post reporter and U.S. resident Jamal] Khashoggi and have a terrible human rights record. They execute people because they are gay. Why should I even think about it if I know all that? Because this is a once-in-a-lifetime opportunity to reshape the workings of the PGA tour.”

Mickelson later recanted his remarks about the murder of Khashoggi as LIV Golf commenced operations, saying, “I think we all agree the Khashoggi situation was despicable. No one’s going to argue that. But we are golfers.”

The PGA Tour has already agreed to a $3 billion deal with the Strategic Sports Group (SSG), a group comprised of billionaire sports team owners under the leadership of John Henry and Tom Werner of the Fenway Sports Group. Other investors include Mark Attanasio (Milwaukee Brewers), Arthur Blank (Atlanta Falcons), Wyc Grousbeck (Boston Celtics), and Steve Cohen (New York Mets). The funds from SSG were used to establish PGA Tour Enterprises, a for-profit arm originally conceived as a framework between the PGA Tour, the DP World Tour, and the PIF. The deadline for the framework was December 31, 2023, and the original parties could not reach an agreement.

The SSG deal opens the possibility of distributing $930 million in equity to past, present, and future players, according to a memo sent to PGA Tour players on February 7. An additional $600 million would be distributed through recurring grants.

The deal with SSG could mean that the PGA doesn’t even need the PIF deal. Jordan Spieth, a member of the PGA Tour Policy Board, noted that a PIF deal “is almost not even worth talking about” at this point in relation to the SSG deal. Spieth added that a deal with LIV Golf backers “would be a unification” for the two golf leagues. However, when specifically asked about a deal, Spieth said, “I don’t think it’s necessary.”

According to ESPN, an additional deal with the PIF could potentially bring another $3 billion or more into PGA Tour Enterprises.

Related Posts

Adblock Detected

Please support us by disabling your AdBlocker extension from your browsers for our website.