The PGA Tour is in talks with Saudi Arabia’s Public Investment Fund to complete a framework aagreement they reached earlier this year.
The PGA Tour said Tuesday it will begin to offer professional players direct equity ownership in the new company that will be formed after it reaches a deal with investors, according to an internal memo obtained by CNBC.
The tour is currently in negotiations working toward an investment agreement with Saudi Arabia’s Public Investment Fund, which owns LIV Golf, and the DP World Tour. The talks with PIF and the DP World Tour remain the tour’s “top priority,” PGA Tour Commissioner Jay Monahan said in Tuesday’s memo.
The sides reached a framework agreement earlier this year to combine the business interests of the golf leagues.
