Jay Monahan to meet Yasir Al-Rumayyan next week to discuss the PGA Tour-LIV Golf deal

At the recent New York Times DealBook Summit, which took place on Wednesday, November 29, Jay Monahan discussed the contentious agreement between LIV Golf and the Players Association of America.

Monahan declared that he would discuss the PGA Tour and LIV Golf merger with Yasir Al-Rumayyan, the governor of the Saudi Arabia Public Investment Fund, the following week.

Monahan had stated earlier in June that the PGA Tour and LIV Golf will be merging. By year’s end, the US government will have reached a judgment on the merger, which is presently the subject of an investigation.

Monahan discussed the deal and stated (via SI):

We were speaking with a number of people. As you know, we have a set timeline for our interactions with PIF. Next week, I’ll be with Yasir. And our discussions keep progressing. We’re also pushing to consider a wide range of additional interested parties, which are fairly widely known.

Jay Monahan is also trying to get investments from other companies, such as KKR & Co. and Fenway Sports Group, in order to strengthen the PGA Tour and raise the level of competitiveness in the sports world.

Monahan continued his comments by saying:

“When this gets finalized, the PGA Tour is going to be in a position that I talked about earlier, where again, the athletes are owners in their sport, and you’ve got not only the PIF, but you’ve likely got another co-investor, with significant experience in business, sport and brand that’s going to help take the PGA Tour to another level and help us take share from other sports and even be more competitive.”

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