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The blockbuster deal between the PGA Tour and the Saudi PIF previously had a December 31st deadline, but the goal posts appear to be moving.
There is a deadline for the PGA Tour and the Saudi’s Public Investment Fund (PIF) to finalize their blockbuster deal. That date is Dec. 31, but it appears that this could be delayed.
The framework of a deal is likely to be pushed back because the “U.S. regulators continue to dig in their heels and players demand more power in the new entity,” per Bloomberg.
This deal is far from complete. Anonymous sources claim various issues, from the U.S. Department of Justice and their antitrust concerns to talks of PGA Tour players wanting to know how much control they’ll have over the new league.
The delay will likely mean that both the PGA Tour and LIV Golf will continue with separate 2024 schedules. However, Yasir al-Rummayan has openly expressed his sentiments that LIV is not going anywhere even after an agreement is reached.
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There is still no official word on when that deadline will be extended to.
LIV Golf and the PGA Tour also have other concerns to navigate. Sources claimed they need to figure out the financial details of PIF’s investment and what will happen with various contracts that include broadcasters and brand sponsors.
The agreed upon framework existed based off of private conversations between high-ranking members of the PGA Tour and the PIF. However, tour players have since gained equal footing on the board with the addition of Tiger Woods.
Tiger Woods became the sixth player-member of the PGA Tour board of directors as he joined Rory McIlroy, Patrick Cantlay, Charley Hoffman, Peter Malnati and Webb Simpson. Now, they have six of the 12 votes on the board.
Woods and other veterans on the tour are allegedly less concerned with repayments from turning down LIV offers, and more worried about having a share in the new for-profit organization.
All of the news of the groundbreaking deal caught the attention of various U.S. lawmakers. The DOJ was already investigating the PGA Tour and LIV Golf’s antitrust dispute, which added more hurdles to jump through.
There are still a lot of unknowns and secrecy surrounding the deal, and it seems like it’ll take longer than they originally planned.
Savannah Leigh Richardson is a golf staff writer for SB Nation’s Playing Through. You can follow her on Twitter @SportsGirlSL and Instagram @savannah_leigh_sports for more golf coverage. Be sure to check out @_PlayingThrough too.
