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PGA Tour reports 'progress' in meeting with Saudi wealth fund leaders

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The PGA Tour reported progress without details from a face-to-face meeting between its negotiating committee and the Public Investment Fund of Saudi Arabia as it tries to work toward a deal.

“We want to get this right, and we are approaching discussions with careful consideration for our players, our fans, our partners and the game's future,” the tour said in a statement released Saturday morning.

PGA Tour Enterprises brought on Strategic Sports Group, which invested an initial $1.5 billion earlier this year. Negotiations are ongoing to bring in PIF as a minority investor, and there has been more activity than previously believed. The tour said the committee and PIF have been meeting “multiple times weekly to work through potential deal terms and come to a shared vision on the future of professional golf.” It said only that “more progress was made” in New York.

 

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