Tiger Woods and PGA Tour officials met with representatives of Saudi Arabia’s Public Investment Fund (PIF) in New York today, according to ESPN, and the latest update has been met with heavy criticism by the 9/11 Justice group.
Woods, 48, and PGA Tour officials are attempting to thrash out a deal that would pump $1 billion from the PIF into PGA Tour Enterprises, a new for-profit entity that was launched by the circuit last year alongside Strategic Sports Group (SSG).
The PGA Tour and DP World Tour signed a framework agreement with LIV Golf’s bankrollers PIF last June, but all parties failed to reach an agreement by a previous deadline for the end of 2023.
That deadline was then extended until further notice and the PGA Tour and PIF have been trying to hammer out their deal ever since.
While all that was going in the background, the PGA Tour struck a deal with SSG, who are led by Liverpool FC’s owners Fenway Sports Group.
SSG made an initial investment of $1.5 billion in the PGA Tour, and that figure could soon increase to $3 billion should a merger with PIF eventually happen as planned.