Tiger Woods Bluntly States PGA Tour Doesn’t ‘Financially’ Need PIF’s Big Bucks- LIV Merger Still In Cards

Tiger Woods doesn’t feel that a deal with PIF is an absolute necessity at this point. Woods admitted that the fractured landscape needs to be repaired. But the former World No. 1 hinted that the Tour, bolstered by Strategic Sports Group’s $3 billion investment, doesn’t need PIF’s money from a strictly financial standpoint.

Speaking at a press conference at Riviera, Tiger Woods said, “Ultimately, we would like to have PIF be a part of our tour and a part of our product. Financially, we don’t right now, and the monies that they have come to the table with, and what we initially had agreed to in the framework agreement, those are all the same numbers; anything beyond this is going to be obviously over and above.”

PIF, the financial arm that bankrolls LIV Golf, and the PGA Tour have been locked in talks since the June 6 framework agreement that was set to reach its deadline on December 31. Reportedly, both parties are willing to sort out the remaining issues before April, and SSG’s involvement as a minority stakeholder is a stepping stone. 

SSG, a consortium of big-money investors led by Fenway Sports Group, has pumped $3 billion into the Tour for an 11% stake. As part of the agreement, players are also set to receive equity in the newly formed PGA Tour Enterprises. $750 million will be earmarked for the top 36 players based on career performance, last 5-year performance, and the Player Impact Program. $75 million is reserved for the next 64 players and $30 million for the players who have fully-exempt PGA Tour cards.

Hailing the billionaire sports team owners associated with SSG as “unbelievable leaders,” Tiger Woods added, “We’re in a position right now that hopefully we can make our product better in the short term and long term.” The 15-time Major Champion echoed what Jordan Spieth said earlier. Woods’s comments also show that there is still some fissure within the Tour.

Tiger Woods sparks more debate on the PGAT-LIV merger

Spieth, another sitting Tour Policy Board member, felt that SSG’s investment should be enough for the Tour. “I don’t think [PIF investment] is needed. The idea is that we have a strategic partner that allows the PGA Tour to go forward the way that it’s operating right now without anything else, with the option of other investors.” Rory McIlroy was miffed with Spieth’s comment and the American International too toned it down later. 

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The former Masters Champion clarified his position by saying that PIF is still part of the equation. But Tiger Woods still sounds reluctant to accept PIF’s money. Furthermore, the Hall of Famer was not willing to entertain McIlroy’s plea for welcoming LIV Golfers without any repercussion, per reports. Asked about the matter, Woods said that it’s an ongoing discussion, but there is no clear answer to that at this moment.

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