Newly-appointed LIV Golf CEO Scott O'Neil has revealed that investment from the Public Investment Fund of Saudi Arabia (PIF) into PGA Tour Enterprises is 'likely', as discussions between the two parties continues. Following a shock the announcement of a framework agreement in June 2023, the PGA Tour and PIF have been negotiating over a deal which could potentially resolve their ongoing dispute with the LIV setup. Over 20 months on though, a deal is yet to be finalised.
In response to the lack of progress, the PGA Tour met with Donald Trump last week in a bid to accelerate the process, after commissioner Jay Monahan and Adam Scott held talks with the President at the White House. An earlier investigation by the Department of Justice had seemingly stalled negotiations, but there is hope that the Trump administration, given the President's strong ties with both the PGA Tour and the LIV setup, can help matters. While the LIV brand is not directly involved in talks, O'Neil believes that the impending partnership between the PGA Tour and PIF will benefit the breakaway league.
"So PIF, they're the investor and creator of LIV," he clarified ahead of this week's LIV event in Adelaide. "The Public Investment Fund (PIF) of Saudi Arabia is eying a stake in PGA Tour Enterprises, an entity recently bolstered by U.S. investors, and the folks at LIV Golf couldn't be more thrilled. "PIF is a sovereign wealth fund of the Kingdom of Saudi Arabia, and they are likely to make an investment into PGA Tour Enterprises, a new structure that a collection of U.S. investors invested in. For us at LIV, we are hoping that that unlocks opportunity.
For all the latest on news, politics, sports, and showbiz from the USA, go to The Mirror US. "That may unlock opportunity with markets, with courses, with marketing partners, with television networks, with growing the game, with competition opportunities, with new formats." Speaking to reporters, the CEO admitted a sense of excitement surrounding the proposed deal. "I grew up in New York, if you haven't been able to tell so far by my funny accent, and the state motto is 'Excelsior,' which means kind of onwards and upwards effectively, and we're very excited about the potential investment with PIF and PGA Tour Enterprises..." The enthusiasm doesn't stop there as he pointed out.
"I'm excited about the agreement. I think that right now we are going to the moon and back, and I hope that'll help as an accelerant, but I'm very confident in where we are in this business and the interest we have currently." O'Neil welcomed President Trump's involvement. "If the leader of the free world is spending his time on golf, [then] I am very happy," O'Neil told Al Arabiya News last week. "This game matters. It gives values that this world needs more of right now. It brings us together with connectivity.”.
