PGA Tour Commissioner Jay Monahan is in Saudi Arabia this week, meeting with the president of the country's sovereign wealth fund. According to a report in Sports Business Journal.
Monaghan and Yasir Al Rumayyan are scheduled to meet in November to negotiate a possible final agreement to combine the Tour, the European Circuit and LIV Golf, which is owned by the Saudi Public Investment Fund, under a new commercial entity. I was planning to continue. An organization called PGA Tour Enterprises.
According to SBJ, a Tour spokesperson declined to comment on the report, but said it was “the first time Monaghan and Al Rumayyan have met in person since last summer, when negotiations opened the door to a general agreement between the two countries.” “I think so.” A bigger deal.
The London Times reported that Mr Monaghan and Mr Al Rumayan had recently held a lengthy telephone conversation and that negotiations between the two sides were progressing. The parties also agreed to extend the Dec. 31 deadline to reach a final agreement.
DP World Tour CEO Keith Perry made the announcement last week. he was about to leave the european circuit He plans to join Maple Leaf Sports & Entertainment in April and told reporters he was confident they could reach a final agreement before leaving the company.
The Tour is also in talks with Strategic Sports Group, a private equity group led by Fenway Sports, to become a minority investor in PGA Tour Enterprises.