There’s a deadline for the PGA Tour and the Saudi’s Public Funding Fund (PIF) to finalize their blockbuster deal. That date is Dec. 31, however it seems that this could possibly be delayed.
The framework of a deal is more likely to be pushed again as a result of the “U.S. regulators proceed to dig of their heels and gamers demand extra energy within the new entity,” per Bloomberg.
This deal is way from full. Nameless sources declare numerous points, from the U.S. Division of Justice and their antitrust issues to talks of PGA Tour gamers eager to understand how a lot management they’ll have over the brand new league.
The delay will probably imply that each the PGA Tour and LIV Golf will proceed with separate 2024 schedules. Nevertheless, Yasir al-Rummayan has overtly expressed his sentiments that LIV isn’t going wherever even after an settlement is reached.
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Picture by Richard Heathcote/Getty Pictures
There’s nonetheless no official phrase on when that deadline shall be prolonged to.
LIV Golf and the PGA Tour additionally produce other issues to navigate. Sources claimed they want to determine the monetary particulars of PIF’s funding and what’s going to occur with numerous contracts that embrace broadcasters and model sponsors.
The agreed upon framework existed primarily based off of personal conversations between high-ranking members of the PGA Tour and the PIF. Nevertheless, tour gamers have since gained equal footing on the board with the addition of Tiger Woods.
Tiger Woods turned the sixth player-member of the PGA Tour board of administrators as he joined Rory McIlroy, Patrick Cantlay, Charley Hoffman, Peter Malnati and Webb Simpson. Now, they’ve six of the 12 votes on the board.
Woods and different veterans on the tour are allegedly much less involved with repayments from turning down LIV provides, and extra fearful about having a share within the new for-profit group.
The entire information of the groundbreaking deal caught the eye of varied U.S. lawmakers. The DOJ was already investigating the PGA Tour and LIV Golf’s antitrust dispute, which added extra hurdles to leap by means of.
There are nonetheless a whole lot of unknowns and secrecy surrounding the deal, and it looks as if it’ll take longer than they initially deliberate.
Savannah Leigh Richardson is a golf employees author for SB Nation’s Enjoying By way of. You possibly can observe her on Twitter @SportsGirlSL and Instagram @savannah_leigh_sports for extra golf protection. Make sure you take a look at @_PlayingThrough too.
