Officials from the PGA Tour and those from Saudi Arabia’s Public Investment Fund are meeting Tuesday in New York, according to an ESPN report. The two parties are allegedly working on finalizing terms of a deal that would inject more than $1 billion from the PIF into PGA Tour Enterprises, the newly created for-profit entity launched earlier this year.
The meetings are scheduled to last multiple days, according to ESPN.
PGA Tour Enterprises chairman Joe Gorder and Fenway Sports Group owner John W. Henry are two people negotiating with the Saudis.
The PGA Tour, DP World Tour and PIF, which has financed the LIV Golf League the past three years, signed a framework agreement on June 6, 2023, to form an alliance. The deadline expired Dec. 31 last year, but both sides have continued to work toward a potential deal, even if talk has seemed slowed in recent months.
Photos on social media surfaced Tuesday from the account radaratlas2, which regularly tracks flights, showing jets from the PGA Tour, Saudis and Tiger Woods all converging in the New York area on Monday. The ESPN story suggested that Woods was part of the discussions, but Golfweek has learned that Woods was in town for a charity event.
Last month at the Tour Championship, Monahan offered little insight into ongoing negotiations between the PGA Tour and the Saudis.
“As it relates to any details of the conversations that we’re having with the Public Investment Fund, I’m not going to disclose details. I’m not going to get into specifics.”
“I’m not going to negotiate details in public or disclose details or specifics. All I can say is that conversations continue, and they’re productive.”
“When you get into productive conversations, that enhances the likelihood of positive outcomes, and that enhances the spirit of those very conversations. I think that’s where things stand.”
(Editor’s note: This story was updated to include Tiger Woods’ reason for traveling to New York.)
This article originally appeared on Golfweek: Report: PGA Tour officials meeting with PIF in New York
