Monahan preaches patience on PGA Tour getting investment deal with Saudi backers of LIV

  • 📰 TSN_Sports
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Commissioner Jay Monahan spent 20 minutes Wednesday talking about momentum from a $1.5 billion private equity investment in the PGA Tour at the start of the year. When it came to an investment deal with Saudi backers of LIV Golf, he preached patience.

Jay Monahan - The Canadian PressATLANTA —

It was a stark contrast to a year ago at East Lake. Monahan agreed to a stunning deal with PIF on June 6, 2023, to create a commercial arm called PGA Tour Enterprises. The deadline for that deal was the end of year. In the meantime, the PGA Tour is wrapping up its first season of eight $20 million signature events, which still produced roughly the same turnover of players who reached the postseason. The tour has announced a similar schedule for 2025, and Monahan made it sound as though that would be the blueprint for the immediate future.

“Players who were members of the tour also have all of our tournament regulations and conduct policies applying to them,” Dennis said. “I’m not going to get into details about that, but there’s an additional set of guidelines there to consider.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 80. in BUSİNESS

Business Business Latest News, Business Business Headlines