The PGA Tour is likely to say that the deadline for talks about a merger with the Saudi sovereign wealth fund will be pushed back. This is done so that a deal can be made before the Masters in April.
When the “framework agreement” was first shown to the public almost seven months ago, the groups that had been at odds with each other said they were sure that everything would be signed by December 31.
This month, Tiger Woods, who is on Tours’ policy board, said that they were still planning to meet that date.
READ MORE: Tiger Woods could play a big part in the future of LIV golf stars after the final meeting to merge.
However, that was always a bold goal with the LIV Golf League and other separate circuits backed by the Public Investment Fund causing such fierce conflict in the professional male game.
Before the Tour talked to private equity investors in the US and the US Senate promised to keep a close eye on the proposed merger, the cut-off point was seen as an even bigger goal.
In fact, the talks were put on hold until after the Ryder Cup in October. The Saudis were unhappy with the slow progress and the fact that professionals on the policy board, including Woods and Rory McIlroy before he quit last month, had taken control of veto powers that could still stop any deal.
After agreeing not to sign any more big names, Yasir Al-Rumayyan, the governor of the PIF and chairman of LIV, gave the Tour a timely and strong reminder of the Kingdom’s financial power earlier this month by signing world No. 3 Jon Rahm to a deal worth an estimated £450 million.
Many saw this shocking event as a shot across the Tour’s bows, and not long after, Sawgrass HQ said it had picked Fenway Sports, the owners of Liverpool FC, as the US investors it wanted to talk to going forward.
Sources say that the decision to play at Fenway is good for the game’s balance.
The Strategic Sports Group (SSG) is made up of American businessmen who own some of the world’s biggest sports teams and is run by Anfield executives John Henry and Tom Werner. SSG already has connections in Saudi Arabia and works closely with people there.
It was planned for Al-Rumayyan to meet with Jay Monahan, the commissioner of the PGA Tour, right before Christmas, but no details have come out. On the other hand, the expansion is going to move.
An important person in the business told Telegraph Sport, “There’s no chance a deal can be announced by the end of this week.” “But maybe by March end.”
