Despite Tiger Woods’ objection due to the potential risk of a complete takeover, he revealed that the PGA Tour is still pursuing Saudi Arabia as a “lucrative target.”
with him soon. On Saturday, Tiger Woods stated that the PGA Tour intends to finalize its partnership with him in a definitive agreement very shortly.
Before their Dec. 31 self-imposed deadline, they had interactions with Saudi Arabia’s Public Investment Fund (PIF).
In August, Woods became a member of the PGA Tour board and affirmed that the deadline set in early June is still in place.
The merger between the two parties and the European-based DP World Tour was announced, with a possibility of extending the date if both sides agree.
LIV Golf, which is a recent competitor of the PGA Tour, has received its primary financial support from Saudi PIF.
“At this moment, our time frame and deadline still remain December 31,” Woods stated during a press conference held in Florida. He further emphasized that there has been no alteration to the aforementioned schedule.
“We’re attempting to negotiate with various entities that are involved here, and now SSG has entered the picture.”
Attempting to finalize its merger plans before the deadline, the PGA Tour announced that it would continue negotiations with Strategic Sports Group (SSG), a US-based organization that may become a co-investor.
Fenway Sports Group, which possess the Boston Red Sox of Major League Baseball and Liverpool Premier League club, is a part of SSG. Additionally, investment firm Cohen Private Ventures along with New York Mets owner Steve Cohen’s family office and private equity firm HighPost Capital are also included in it.
“We’re all going in the right direction. SSG has significant equity and prominent investors that share our values,” Woods explained.
After joining his son Charlie in the opening round of the PNC Championship at Florida, the athlete who has won 15 major titles spoke. He had earlier made a comeback to competitive golf last month during Hero World Challenge held in Bahamas.
The comment on Masters champion Jon Rahm’s decision to join LIV Golf, the Saudi-backed tournament that boasts of several big names shifting allegiance, was withheld by Woods.
Woods stated that there have been numerous speculations over the years regarding certain players leaving, which turned out to be true.
