Yasir Al-Rumayyan Is Extremely Furious at Jay Monahan After Recent $3B PGA Tour Snub, per Reports

PGA Tour might decide to walk without PIF in the end. The shocking possibility cannot be entirely ruled out as per recent reports. Bloomberg and Wall Street Journal reported that the Tour is on the precipice of securing a $3B investment from Strategic Sports Group (SSG), as early as next week. However, the initial agreement between the two parties might not include PIF, the financial arm that bankrolls LIV Golf.

Reports also point out that has ruffled the feathers of Yasir Al-Rumayyan, the PIF Chief. The Saudi mogul was not very pleased with SSG’s involvement, as he feels it eclipses the PIF from the center of control, per the New York Post. SSG, a consortium of big-money investors, including New York Mets owner, Steve Cohen, Marc Lasry, and others led by Fenway Sports Group, was reported to invest a hefty sum that might go north of $3B. Notably, PIF, too, was slated to invest $3B in the newly formed entity. 

The report comes amid Keith Pelley, the departing DPWT CEO’s assessment said that both parties are willing to iron out the differences. Pelley noted that the Tour commissioner and PIF chief had a phone call that kicked the can further down the road. On top of that, Monahan reportedly traveled to Saudi Arabia for an in-person meeting with Rumayyan. 

The June 6 framework agreement between the PGA Tour, DP World Tour, and PIF saw the belligerent parties reach a detente to align their commercial interests going forward. The Tour, in a senate hearing, revealed that PIF will only be a minority investor in the newly formed for-profit entity. PGA Tour, on the other hand, was open to roping in additional investors to bolster their position. 

The Tour, in consultation with its various stakeholders, inducing the Players Directors of the Tour Policy Board, decided to go ahead with SSG. However, as reports now point out, the PIF chief felt the SSG’s financial ammunition threatened his bid for control. It throws the merger into deeper uncertainty as recent developments show.

LIV Golf continues to gnaw at the PGA Tour

A few weeks before the merger reached its initial deadline of December 31, LIV Golf snatched away Jon Rahm, perhaps the most prized asset in the PGA Tour. The $566M move threw the Golf world in shock as the defending Masters champion was the first player to bolt since June 6. The poaching was expected to die down in the wake of the merger agreement. 

Read More: As Strategic Sports Group Prepares a Mammoth Bid, Does PGA Tour Have a Future Without PIF?