The PGA Tour and the Saudi Public Investment Fund (PIF) are close to striking a deal, according to a Bloomberg Business report.
The two sides have tried to reach an agreement for almost 18 months now, but this deal will likely see the PIF acquire a 6-percent stake in the PGA Tour’s new for-profit entity, PGA Tour Enterprises. This investment could value PGA Tour Enterprises at about $12 billion, as the PIF would likely match the influx of cash the tour received from the Strategic Sports Group (SSG) earlier in the year. SSG is a group of sports owners and billionaires that committed $1.5 billion to the tour in
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