By GB News (World News) | Created at 2024-11-02 11:51:21 | Updated at 2024-11-02 14:32:40
3 hours ago
LIV Golf is poised to cough up a staggering £1billion in order to become part of the PGA Tour circuit following interventions from the likes of Rory McIlroy and Tiger Woods, reports say.
The Saudi Arabian-backed competition has caused plenty of controversy ever since it was first created back in October 2021.
Several players have opted to leave the PGA Tour for LIV Golf, having been swayed by the huge finances on offer.
Now, however, an end to the saga appears to be in sight.
LIV Golf is poised to cough up a staggering £1billion in order to become part of the PGA Tour circuit following interventions from the likes of Rory McIlroy and Tiger Woods
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The Sun say that LIV Golf is set to stump up a massive £1bn to become part of the PGA Tour circuit.
It's claimed the money will give Saudi Arabia's Public Investment Fund an 11 per cent share in the tour.
They will, in return, get two places on the PGA Tour board - with one of those the post of chairman.
The report says Woods and McIlroy 'have played key roles in the peace talks'.
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While the agreement still needs to be approved by PGA players, they are 'expected' to agree.
Though the money the Saudis are set to cough up is huge, it's just a small slice of their pie given PIF have assets of around £720bn.
LIV Golf made Jon Rahm their biggest recruit last year, with the Spaniard paid nearly £500million to cross the divide.
The likes of Phil Mickelson, Bryson DeChambeau, Brooks Koepka, Sergio Garcia, Lee Westwood and Ian Poulter have also been lured over with dizzying contract offers.
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LIV Golf is set to merge with the PGA Tour with Rory McIlroy and Tiger Woods playing big roles
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Speaking earlier this month, meanwhile, McIlroy said that people who 'no one likes' were holding up a potential merger between LIV and the PGA.
“I think by year’s end, whether the Public Investment Fund will invest in PGA Tour Enterprises, but that doesn’t solve the problem of where we find ourselves in golf, the schedule and everything," he said.
“I mean, I’d say we’ll know by the end of the year whether that’s a possibility or not, but I think all tours are going to keep trucking along and doing their own thing for the foreseeable future.
“I think the best thing we can maybe hope for is a bit of crossover between them and then maybe while that is happening over that period of time, whether it be one year, two years, three years, just trying to figure out the rest.
LIV Golf made Jon Rahm their biggest recruit last year
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“I think the hard thing is there are legal precedents that have been set in America and here and that makes it very different.
"That’s the big thing. No-one likes lawyers - I certainly don’t - and, yeah, that’s a big part of the issue.
“I think there is a willingness there from all parties to try and get it to happen but you’ve got tonnes of lawyers in the middle of it.”
