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Senate reviews PGA Tour/PIF transaction, Tiger Woods, McIlroy could own LIV franchises

Posted : 12 July 2023
The planned settlement between the PGA Tour, DP World Tour, and Saudi Arabia's Public Investment Fund may have included Tiger Woods and Rory McIlroy receiving ownership of LIV Golf team franchises.
 
The framework agreement that put an end to the legal dispute between the tours and the Saudi-funded breakaway LIV circuit was the subject of various discoveries that came to light from documents that were presented at a Senate subcommittee hearing in Washington.
 
Additionally, it was discovered that Greg Norman was destined to lose his job as the LIV tour's commissioner.
 
Yasir Al-Rumayyan, the governor of PIF, was also being considered for membership at the St. Andrews-based Royal & Ancient and Augusta National Golf Club, which hosts the Masters.
 
Senators were informed at the session that the PGA Tour and its strategic alliance partner, Europe's DP World Tour, which both signed the framework agreement that was made public on June 6, will get "north of $1bn" from the contract with the Public Investment Fund (PIF).
 
The LIV idea has been fiercely opposed by Woods and McIlroy. In the immediate wake of the revelation, McIlroy lamented about being a "sacrificial lamb."
 

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