Ahead of the Hero World Challenge in the Bahamas, PGA Tour commissioner Jay Monahan said the deal with PIF (Public Investment Fund, aka LIV Golf funder) is still very much on the table.
Speaking at a conference in New York City on Wednesday, Monahan confirmed that he’ll be meeting with Yasir Al-Rumayyan, governor of Saudi Arabia’s Public Investment Fund, “next week to continue negotiations on a potential alliance.”
The Boston native hopes to reach a deal with PIF and at least one other investor before the end of the year, suggesting a “firm target” of Dec. 31 for a framework agreement.
“We’re having conversations with multiple parties,” said Monahan. “The deadline for our conversations with PIF, as you know, is a firm target.
“I’ll be with Yasir (Al-Rumayyan) next week, and we continue to advance our conversations. And I think it’s pretty well known that there’s a large number of other interested parties that we’re also pushing to think about.”
One of those “other interested parties” is reportedly Fenway Sports Group (FSG), where Monahan once worked as a sales executive. FSG owns the Boston Red Sox, Pittsburgh Penguins, Liverpool F.C. of the Premier League and the Boston franchise of the TGL.
PIF has pledged to invest more than $1 billion in the new for-profit partnership which would see the PGA Tour, DP World Tour and the LIV Golf League all under one umbrella.