The decision by Saudi-owned LIV Golf to merge with the Professional Golfers’ Association of America should be welcomed by anyone interested in the game.
In 2021, Mr. Blumenthal attended an event celebrating the Connecticut branch of the Communist Party USA. A career politician of Mr. Blumenthal’s stature should certainly be able to rethink his view of Saudi-owned LIV Golf. Second, since the governor of Saudi PIF, Yasir al-Rumayyan, is an avid golfer, expect his massive investment in American golf to trickle down to every part of the country, thus allowing young golfers who dream of becoming the next Tiger Woods or Greg Norman to realize their ambitions.
The proof that Saudi PIF’s investment strategy does produce positive results is evident when one looks at the transition of U.K.-based Newcastle United, a soccer club from the northeast of England. Before Saudi PIF’s capital injection, Newcastle struggled to stay in the Premier League, home to powerhouse clubs such as Manchester United and Chelsea.
Through Saudi PIF’s creative investing strategy, this young leader is also on a mission to democratize wealth creation for his countrymen and others across the globe, including Americans. Investments by Saudi Arabia’s PIF into America’s small, medium-size and large businesses help provide the necessary capital for these companies to innovate and scale.