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.
"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.
"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.
"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.
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.
