Report: PGA Tour official provides update on LIV Golf negotiations
PGA Tour officials reportedly are content to let the 31 December deadline pass with LIV Golf's financiers, the PIF of Saudi Arabia.
PGA Tour officials have reportedly admitted it wouldn't 'necessarily be a bad thing' if the deadline passes to ratify the framework agreement with LIV Golf's Saudi financiers, according to a report by bunkered.
The North American circuit and rival league announced in June the two organisation's would work 'in good faith' towards the creation of a new, for-profit company.
We now know that company, if created, would be called PGA Tour Enterprises. Under the NewCo, PGA Tour commissioner Jay Monahan would answer to LIV's mastermind Yasir Al-Rumayyan.
Al-Rummayan is a powerful Saudi official. He is the chairman of Newcastle United and wears many other hats. He's thought to be a close confidante of Saudi crown prince Mohammed bin Salman Al Saud.
The agreement, which was signed on 30 May, also involves the European-based DP World Tour.
Monahan previously stressed every effort was being made by all parties to make sure not only the 31 December deadline would be met but an agreement would be struck.
"If you saw the amount of conversation and the time that the PGA Tour, DP World Tour and PIF are spending working forward from a framework to a definitive, I think you would see the sincerity of the efforts there," he said during his annual press conference at the Tour Championship
Negotiations have clearly intensified after the Ryder Cup. Tour pros have heard whispers negotiations are not going well.
Davis Love III provided perhaps the most illuminating update to when he spoke to Golfweek about what he has heard.
Love claimed the ongoing negotiations appear to have hit a stumbling block.
"It's just like the lawsuit," Love said, referencing LIV's antitrust legal action and the subsequent counterclaim. "We're never going to go to trial if they don't ever do discovery. Our staff and players did discovery. They refused.
"We made an offer and if you don't ever communicate, we can't make another offer. It's bizarre what's going on. It's a long way from anything. The sharks are circling. Now everyone wants to invest in the PGA Tour."
bunkered's report quotes a PGA Tour official saying it "it would not necessarily be a bad thing" if there is a delay.
In recent weeks there have also been reports the PGA Tour have been fielding significant interest from potential investors.
Endevour, worth a reported $10bn, had an offer turned down according to their chief executive.
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