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Tiger Woods says the PGA Tour desires to strike a proper settlement with Saudi Arabia’s state funding fund by its self-imposed December 31 deadline.
Whereas a lot has seemingly occurred since that timeframe was set out in July, it’s obvious that at the least from the PGA Tour’s perspective, they should have an settlement in place going into the 2024 marketing campaign.
The deadline was established in early June when the 2 corporations and the Europe-based DP World Tour introduced their merger, though the events may agree to increase the deadline.
The Saudi PIF is the first monetary supporter of PGA Tour competitor LIV Golf.
Woods revealed that the PGA Tour was upbeat on its possibilities of finishing the deal earlier than the top of the 12 months.
“As of proper now, (December 31) is our timeframe and our deadline. That hasn’t modified,” Woods, who joined the PGA Tour board in August, advised a press convention in Florida on Saturday.
“We’re attempting to get a deal performed with the entire totally different entities that we’ve happening right here. SSG has come into the combo now.”
The PGA Tour stated it can proceed negotiations with US-based Strategic Sports activities Group (SSG), which could take part as a co-investor, because it rushed to complete its merger plans earlier than the deadline.
SSG contains Fenway Sports activities Group, the house owners of the Boston Crimson Sox in Main League Baseball and Liverpool within the Premier League. It additionally includes the funding enterprise Cohen Non-public Ventures, the household workplace of New York Mets proprietor Steve Cohen, and the personal fairness agency HighPost Capital.
“(SSG) have lots of fairness and lots of identify buyers which have the identical alignment that we’ve, and we’re all on course,” Woods stated.
Woods declined to touch upon Masters winner Jon Rahm’s latest swap to LIV Golf.
“Nicely, there’s been lots of discuss through the years of sure gamers going, and it was hypothesis till it occurred as a result of there’s been rumors of names going and never going, and whether or not they materialized or not …” he stated. “So we assumed it was simply hypothesis till it occurred.”
Matt Kuchar, in the meantime, believes LIV Golf could possibly be a catalyst for constructive adjustments within the sport.
“I feel what’s happening with the LIV Tour is pushing the PGA Tour to make some adjustments,” Kuchar stated. “I feel some are for the great.
“Hear, should you had been a participant on Tour this 12 months, you had full-field occasions with big purses. This was form of an ideal 12 months to be on Tour. This coming 12 months, should you’re inside that high 50, it seems to be prefer it stands to be an unimaginable 12 months.
“I don’t see this being the ultimate rendition of what the PGA Tour seems to be like. I feel we’ll tweak it. However I feel the LIV Tour is forcing the Tour to make some good changes.”
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