“Unsolicited interest from investors” appears to be mounting as capital funds realise the appeal of the biggest upcoming golf venture, PGA Tour has reported.
As work continues on the planned merger between the US golfing tournament, its European counterpart DP World Tour, as well as the Saudi-backed LIV Golf, new options appear from investors looking to steal the deal under the nose of the Public Investment Fund (PIF).
In a statement, PGA Tour commented: “Our negotiations have resulted in unsolicited interest from other investors.”
And as lucrative as it might seem to have millions of unsolicited dollars flocking to you, the PGA has maintained that its focus “remains on finalising an agreement with the Public Investment Fund and the DP World Tour.”
Albeit, the professional golf organiser also expressed its commitment to its members, sponsors and fans, and promised to thoroughly evaluate all available options currently present.
Another important detail around the ongoing negotiations is that all agreed investments will be syphoned into subsidiary entity PGA Tour Enterprises, which will be under the full control of the PGA Tour.
Despite this, an uproar of disapproval over the upcoming deal has been voiced by US policy makers out of concern that a historic, almost a century-old US institution such as the PGA Tour will be ultimately absorbed by Saudi Arabia and sink into its oil wells, paving the way for potential interference with US internal affairs.
The PGA has backfired on these allegations, saying that things are happening not because of politics, but because it has managed to significantly grow as an organisation over the years and build a sustainable business model that has become internationally recognised and lucrative to foreign investors.
A final decision on the merger is expected to come sometime in December, with all parties involved confirming that talks are heading in a positive direction.
