PGA Tour admits deadline for Saudi deal could be missed

The PGA Tour is braced for Framework Agreement negotiations with Saudi Arabia’s Public Investment Fund (PIF) to continue beyond the December 31 deadline.

Both the PGA Tour and DP World Tour have been locked in talks for several months with PIF – the backers of LIV Golf – over the proposed alliance that would see golf’s warring factions combine its assets into one for-profit entity.

But bunkered.co.uk has learned that the end of year deadline, set when the merger was first announced on June 6, could pass before a deal is finalised.

A source with knowledge of the negotiations says that while the December 31 date is still the target, there is an acceptance that complications in the deal have led to the possibility of an extension to the self-imposed deadline.

• The 10 highest earning golfers in 2023

• Saudis ‘will not meet PGA Tour deadline’, claims legend 

It is stressed, however, that “it would not necessarily be a bad thing” if there is indeed a delay, with the main focus to reach a full, definitive agreement which satisfies all parties.

The PGA Tour’s commissioner Jay Monahan said back in August that he sees a “positive outcome” from the top-secret talks and that “sincere efforts are being made to get there.”

It is understood lengthy conversations between the tours and PIF bosses have taken place this week, with PGA Tour sources remaining confident they’ll “get to a deal that is in the best interests of both the Tour and our players.”

But one of the issues that continues to complicate this deal is the interest from external companies keen on investing themselves in the PGA Tour.

Just last week, Endeavor, the US entertainment group that owns and runs the WWE and UFC, had a bid to form a strategic partnership with the US circuit rejected.

“We asked (the PGA Tour) for $25 million a year in services, and if they would have agreed to that, we would have been happy to make a minority investment,” the Endeavour president Mark Shapiro told Sportico.

• Rory McIlroy commits to brand new DP World Tour event

• Former LIV player bidding to secure PGA Tour card

“But we get it: They have a lot of suitors, a lot of bidders, a lot of attractive offers, and they declined. So we’ll just continue with our long-standing partnership as-is with the hopes of growing it further in the future.”

The initial Framework Agreement gave PIF the “right of first refusal” on any new capital raised by the new for-profit body, which is yet to be formed with negotiations still ongoing.

Such interest has made the negotiations more challenging, but the possibility of additional investment is still welcomed by the PGA Tour, as it shows the flourishing value of the circuit.

While an agreement is slowly edging closer, the PGA Tour and LIV Golf League are still set to continue operating separately in 2024.

The US circuit has announced that its 2024 schedule will include eight ‘Signature Events’, while LIV have confirmed a ‘Promotions Event’ will take place in Abu Dhabi next month offering three spots on the roster for its third season.

Ben Parsons joined bunkered as a Content Producer in 2023 and is the man to come to for all of the latest news, across both the professional and amateur games. Formerly of The Mirror and Press Association, he is a member at Halifax Golf Club and is a long-suffering fan of both Manchester United and the Wales rugby team.