PGA Tour and LIV Golf consider U.S. investors
Why it's the BFD: The deal could appease U.S. regulators' concerns over LIV being backed by Saudi Arabia's sovereign wealth fund.
Details: The PGA said in a statement it received unsolicited interest during its negotiations. The organization denied the interest was related to regulatory issues and instead noted the launch of the PGA Tour Enterprises as a new investment vehicle and the strength of its business.
- "Our focus continues to be on finalizing an agreement with the Public Investment Fund and the DP World Tour," the statement reads.
- Bloomberg's report did not name any potential investors.
- Public Investment Fund governor Yasir Al-Rumayyan has previously said the PIF investment could be more than $1 billion.
What's next: PGA and LIV said they hope to finalize negotiations by the end of the year. They have been responding to some regulatory issues. Earlier this month, Sen. Richard Blumenthal (D-Conn.) subpoenaed a PIF subsidiary.