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Final week Golfweek was first to report a gaggle of PGA Tour gamers had been planning to fulfill with Yasir Al-Rumayyan, the pinnacle of Saudi Arabia’s Public Funding Fund, in an effort to proceed in direction of a deal that might seemingly reunite males’s skilled golf.
Whereas the unique report said the assembly was scheduled at a non-public residence in Ponte Vedra Seashore, Florida, following the conclusion of the Gamers Championship at close by TPC Sawgrass, flight monitoring knowledge confirmed the assembly appeared to occur within the Bahamas. After the assembly, PGA Tour commissioner Jay Monahan despatched a memo to gamers – first shared by Monday Q Data – to supply a short replace.
“The dialog all through was constructive and represents an essential a part of our due diligence course of in choosing potential buyers for PGA Tour Enterprises,” Monahan mentioned of the assembly between participant administrators and Al-Rumayyan. “This mirrors the method we employed earlier this yr as we evaluated an funding supply from the Strategic Sports activities Group.”
“In the course of the session, Yasir had the possibility to introduce himself to our Participant Administrators and discuss via his imaginative and prescient, priorities and motivations for investing in skilled golf,” Monahan continued. “As we proceed these discussions with the PIF, we are going to hold you up to date as a lot as potential, however please perceive that we have to preserve our place of not conducting negotiations in public. To that finish, we are going to present no additional feedback to the media presently.”
The message doubles down on Monahan’s feedback finally week’s Gamers Championship and solely confirms what had already been broadly reported. The Tour has maintained the discussions with the PIF relationship again to the June 6 framework settlement have been productive, however 9 months later a deal has nonetheless but to be reached.
Throughout his annual State of the Tour tackle, Monahan confirmed he and SSG representatives met with Al-Rumayyan in Saudi Arabia in January. That very same month, the SSG invested $1.5 billion into PGA Tour Enterprises, the for-profit entity that was initially supposed to incorporate the PIF through the framework settlement.
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