PGA Tour Updates: Is Deal With PIF Cancelled Amid Latest $12B Fenway Tie-Up?

The PGA Tour just pulled out a surprise deal! Many fans were thinking the Tour would become the dormant side in the upcoming merger with PIF. But it looks like Jay Monahan and Co. have one-upped the Saudis by signing a $3 billion deal with SSG.

However, this raises the concern of whether the traditional league has cut ties with the Saudis. And the answer lies in the memo they sent to the players. Let’s dive into the facts to uncover whether the deal between the PGA Tour and PIF is still on.

Has Jay Monahan and the PGA Tour cut ties with the PIF?

Recently, the PGA Tour, which is a non-profit organization, announced the launch of a for-profit entity called the PGA Tour Enterprises. This entity has a whopping $900 million equity share for the existing PGAT players. And the terms and conditions for the same were vividly listed in the memo issued to the players.

However, hidden in the lines was the fate of the deal between the PGA Tour and PIF. If you are wondering whether or not the deal is still alive, the short answer is yes. Despite missing the deadline of December 31, the deal is still thriving as it is mentioned twice in the memo.

The first instance covers the fact that the PIF will have a way to invest in the PGA Tour Enterprises too. The statement read, “The transaction announced today allows for a co-investment from the Public Investment Fund (PIF) in the future, subject to all necessary regulatory approvals.”

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This statement implies that while PIF has a chance, their foot is still not in the door. But the second instance where the PIF is mentioned will have a much larger effect.

Can SSG affect the deal between the two golf bodies?

In the second instance, the memo read, “In addition, today the PGA TOUR confirmed progress in its ongoing negotiations with PIF on a potential future investment and both parties are working towards an ultimate agreement. SSG has consented to an investment by PIF, subject to any necessary regulatory review and approvals.”

This statement implies that SSG has agreed to let PIF invest in the new entity of the traditional league. However, they can regulate their views when necessary. But the important news here is that the merger talks between the PIF and the PGA Tour are still alive and thriving.

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