Saudi Arabia's PGA merger is likely just the beginning for the kingdom when it comes to pro sports investments

is just one step in the kingdom's ambitious tourism and investment strategy — and its pursuit of big-name sports is just getting started.

"Any sport that has consumers globally and domestically is a sport we're interested in as an investment opportunity, to not only create commercial returns for the investors, whether it's the PIF or private investors, but also as an upgrade to the quality of life of Saudi Arabia, it's part of our tourism agenda."

The agreement, which includes the DP World Tour — also known as the PGA European Tour — will combine the commercial businesses and rights of the PGA Tour and LIV Golf into a new, yet-to-be-named for-profit company.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Senator opens investigation into PGA Tour merger with Saudi-backed LIV GolfThe sudden merger between PGA Tour and Saudi-owned Liv Golf has invited scrutiny from federal lawmakers.
Source: CNBC - 🏆 12. / 72 Read more »

Senate Probes Saudi-Backed LIV-PGA Merger—Questioning Its Non-Profit StatusThe PGA Tour’s long-held tax exemption is under federal scrutiny amid the American institutions’s influx of Saudi cash.
Source: Forbes - 🏆 394. / 53 Read more »

Senate launches probe into merger of Saudi-backed LIV Golf, PGA TourSen. Richard Blumenthal is demanding records regarding LIV and PGA's partnership, which some say is an attempt to distract from Saudi Arabia's human rights record.
Source: FoxNews - 🏆 9. / 87 Read more »