|
"Our focus continues to be on finalizing an
agreement with the Public Investment Fund and the DP World Tour,
however, our negotiations have resulted in unsolicited interest
from other investors," PGA said in a statement on Wednesday.
Any investments that come from the talks will be made into PGA
Tour Enterprises, a subsidiary of the PGA Tour, which it would
permanently control.
Bloomberg News, which earlier reported the news, said inclusion
of outside investors could help appease politicians who have
voiced concerns the deal would amount to a takeover of a U.S.
institution by LIV Golf, bankrolled by the PIF.
PGA said additional investor interest is not about politics, but
because the PGA Tour has, for the first time, created an
investment vehicle in PGA TOUR Enterprises and its business is
strong.
PGA added talks with Saudi Arabia's Public Investment Fund and
DP World are progressing, with the goal of reaching a definitive
agreement by Dec. 31.
The world of golf was stunned in June as the PGA Tour, DP World
Tour and LIV circuit, who have been involved in a bitter fight
that has split the sport, announced an agreement to merge and
form one unified commercial entity.
The announcement raised concerns in Washington from lawmakers
who are mistrustful of the kingdom and critical of its human
rights record. They have vowed to take a deep look into the
deal.
(Reporting by Juby Babu in Bengaluru; Editing by Chris Reese)
[© 2023 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content. |
|
