In June 2023, the U.S. Department of Justice opened a probe into the then-newly announced PGA Tour and PIF merger. The Wall Street Journal reported that the DOJ had concerns regarding the antitrust law of the United States being broken by the merger. It has been a year since the seismic announcement that left the golf world speechless and yet the merger between the two entities has not progressed.

However, the PIF and PGA Tour finally ended their cold war and will be meeting to further discuss the negotiations between the two organizations. The two firms will be meeting on June 7th to take a step in the right direction. But things might not be as easy for Saudi Arabia’s PIF as Rory McIlroy expressed concerns over PIF’s role in the future PGA Tour and PIF merger.

Rory McIlroy is unsure if PIF would be an active investor

Recently, DP World Tour’s CEO, Guy Kinnings, stated that the PGA Tour and PIF merger might get finalized by 2026. Similarly, Rory McIlroy in an interview with Garret Johnson for the Beyond the Clubhouse podcast, revealed that 2026 was a “pretty good timeline” for the PGA Tour-PIF merger to come forth.

However, after his first round of the Memorial Tournament, McIlroy shared that PIF’s role in the merger remains uncertain. The 4-time major champion cited the Department of Justice’s antitrust probe as one of the reasons. McIlroy said, via SI, “I think depending on what the DOJ (the U.S. Department of Justice) allows, it might have to be a very passive investment” from Saudi Arabia’s PIF.

Furthermore, McIlroy doubted if it would become a passive investment if PIF would then be willing to do it. The Northern Irishman relayed that he lacked knowledge and expertise in the investment and regulatory side of the PGA Tour-PIF deal. McIlroy was on the Transaction committee to put forth the player’s perspective and that’s where his job ends. To deal with the investment in the PGA Tour Enterprise, McIlroy said, “That’s going to be a conversation between SSG and the executives of the Tour.”

PIF had tried to enter the golf world even before the creation of LIV Golf. Thus McIlroy was then asked whether PIF was eyeing investing in the PGA Tour Enterprise to further strengthen their presence in the golf landscape. The 35-year-old’s response affirmed those speculations.

Rory McIlroy clarifies PIF’s stance in the PGA Tour-PIF deal

The Northern Irishman might be the only player on the PGA Tour who is on amicable terms with PIF’s governor, Yasir Al-Rumayyan. So when McIlroy was asked about the PIF Governor’s views and intentions about the merger, the 35-year-old was positive that Al-Rumayyan wished for huge benefits from the merger for his firm and Saudi Arabia as well.

McIlroy explained, “First and foremost, Yasir is the governor of the PIF and the chairman of Aramco (Saudi Arabia’s lucrative oil company) [which also sponsors some LET events]… His biggest thing is making returns on his investments and to do good by the Kingdom. That’s his whole purpose in what he is doing.”

McIlroy further opined, “If he thinks that investing in PGA Tour Enterprises is a good investment and he can make return on his money and also get a seat at the table, as it were, he may see that as a win.” Regardless, the 26-time PGA Tour found the partnership between the two firms would be tricky with the DOJ’s antitrust probe into the framework agreement.

With all the complications, the PGA Tour and PIF have 18 more months until 2026 to make or break the deal. Despite the hurdles, will the two form a partnership by that time? It remains to be seen.