"PGA Tour Declines $1.5B Bid from Saudi Investment Fund, According to Report"
It appears that the PGA Tour and Saudi Arabia's Public Investment Fund are not likely to resolve their differences in the near future.
According to sources at ESPN, the PGA Tour has turned down the PIF's recent proposal to invest $1.5 billion in PGA Tour Enterprises. The offer included a condition that the rival LIV Golf league would remain intact.
However, this does not align with the PGA Tour's goal of having the world's top golfers compete on one circuit. The PGA Tour responded to the offer in a letter on Monday, as reported by The Guardian of London.
PGA Tour commissioner Jay Monahan stated at last month's Players Championship, "We will not do so in a way that diminishes the strength of our platform or the very real momentum we have with our fans and our partners. So while we've removed some obstacles, others remain. But like our fans, we still share the same sense of urgency to reach a resolution."
The two parties met at the White House on February 20th. President Donald Trump, speaking to reporters on Air Force One on Thursday, expressed his hope for a deal between the two organizations. Trump was en route to Miami to meet with LIV Golf officials at his own Trump National Doral golf course.
"Ultimately, hopefully, the two tours are going to merge. That'll be good. I'm involved in that too," Trump told the press during the flight, according to reports. "But hopefully we're going to get the two tours to merge. You have the PGA Tour and the LIV Tour. And I think having them merge would be a great thing."
