What a potential deal between PGA Tour Enterprises and Saudi Arabia’s Public Investment Fund looks like is still anyone’s best guess, but LIV Golf CEO Scott O’Neil only sees a potential agreement as a positive. Speaking ahead of the league’s biggest event of the year, LIV Golf Adelaide, the organization’s new frontman discussed what an agreement would mean for his league and the value it could add to the 54-hole circuit now in its fourth season.
“For us at LIV, we are hoping that that unlocks opportunity. That may unlock opportunity with markets, with courses, with marketing partners, with television networks, with growing the game, with competition opportunities, with new formats,” O’Neil said. “But we’re … very excited about the potential investment with PIF and PGA Tour Enterprises.”
O’Neil replaced former CEO Greg Norman a couple months ago, and he has hit the ground running. The league locked up a broadcast partner (Fox Sports) and already held its first event of the 2025 season. Reports have suggested O’Neil has a relationship with PGA Tour commissioner Jay Monahan — unlike his predecessor — making a potential business agreement friendlier than it would have been otherwise.
On the golf front, LIV has secured pathways for its players into major championships. Both the United States Golf Association (U.S. Open) and the R&A (The Open Championship) announced qualifying criteria for their 2025 championships with a new exemption category created for LIV members.
“I will tell you, and it’s been a short 40 days here, but in the 40 days I’ve seen a U.S. agreement with Fox, broadcast agreement. I’ve seen a UK agreement with ITV to get us over the air in the UK,” O’Neil continued. “It’s the only golf that’ll be over the air in the UK. I’ve seen our first pillar partnership with Madden. I’ve seen stars extended. I’ve seen a successful event in Riyadh. I’ve seen interest from all over the world. We’re now broadcast in 100 countries and territories, over 800 million households. So, I see momentum.”
Deal discussions between PGA Tour Enterprises and LIV Golf’s financial backers have heated up in recent weeks. The PGA Tour announced that Monahan and player director Adam Scott met with President Donald Trump to discuss the Department of Justice’s role in the matter. PIF governor Yasir Al-Rumayyan joined by telephone, according to the New York Times.
Ahead of his attendance at the Super Bowl, Trump also played golf with Tiger Woods, who sits on the PGA Tour Enterprises Board of Directors.
It has been suggested that the initial term sheet calls for the PIF to inject PGA Tour Enterprises with $1.5 billion. This would fall in line with the investment received from the Strategic Sports Group, a consortium of U.S. investors and sports team owners that has also made available another $1.5 billion for future use and valued the new for-profit arm at roughly $12 billion.
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