PGA Tour and Saudi Public Investment Fund (PIF) leaders are reportedly set to play in a pro-am tournament in Saudi Arabia this week, marking another public meeting as the two groups continue working towards a potential partnership.
Bunkered initially reported, with subsequent confirmations, that PGA Tour commissioner Jay Monahan and PIF chairman Yasir Al-Rumayyan will participate in the Ladies European Tour event in Riyadh, part of the Aramco Series and the Future Investment Initiative, which aims to drive investment in Saudi Arabia.
This appearance follows the pair’s recent participation in another pro-am at the DP World Tour’s Alfred Dunhill Links Championship. While there is no finalized agreement yet to unify professional golf, the frequent meetings signal ongoing discussions between the PGA and PIF, following their initial “framework agreement” 17 months ago and a deadline missed ten months back.
Meanwhile, the PIF has announced plans to moderate its investments in the coming years, a shift influenced by Saudi Arabia’s domestic projects and fluctuating oil revenues.
Although the exact structure of a potential agreement is unclear, it could involve the PIF acquiring equity in the PGA Tour’s for-profit division, PGA Tour Enterprises. Earlier this year, the Strategic Sports Group pledged $1.5 billion, potentially up to $3 billion, in PGA Tour Enterprises, which was valued at $12.3 billion at the time.
