- PGA Tour said its planned merger with Saudi-backed LIV Golf and DP World Tour has garnered unsolicited interest from investors as it continues to finalise an agreement with the Public - PGA Tour said its planned merger with Saudi-backed LIV Golf and DP World Tour has garnered unsolicited interest from investors as it continues to finalise an agreement with the Public Investment Fund and the DP World Tour.
"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. 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 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.