PIF to abandon LIV GOLF for Football due to complicated negotiation

Saudi Arabia’s Public Investment Fund (PIF) has shifted its immediate focus to football amid ongoing, complex negotiations with the PGA Tour. The PIF, known for financing LIV Golf, has recently announced a new partnership with the Confederation of North, Central America and Caribbean Association Football (CONCACAF), even as discussions with the PGA Tour continue.

In June 2023, the PIF and the PGA Tour surprised the sports world by announcing a framework agreement to merge their commercial operations, including those of LIV Golf and the DP World Tour, into a new entity. However, over a year later, the two sides seem no closer to finalizing a deal. Despite high-profile involvement from golf icons Tiger Woods and Rory McIlroy, the negotiations remain unresolved.

PGA Tour Commissioner Jay Monahan recently commented on the situation, describing the talks as “very complicated.” He noted, “When you have this level of interaction, and you’re continuing to meet, move forward, discuss, and debate, you can’t help but be hopeful.” Monahan added that the conversations are ongoing and that he believes they are in a “good place.”

Regardless of the outcome, LIV Golf is expected to continue operating independently. However, there is industry-wide hope that a merger between PIF and the PGA Tour could help bridge the significant divide currently existing in professional golf.

With progress slow on the golf front, PIF has turned its attention to football, deepening its involvement in the sport. The Fund first made headlines in football by acquiring an 80% stake in Newcastle United Football Club in 2021. Recently, PIF has partnered with CONCACAF to support the development of football at all levels across North America, Central America, and the Caribbean.

This new partnership aims to advance football development initiatives, particularly focusing on increasing youth access to the sport across all 41 CONCACAF member federations. Mohammed AlSayyad, Head of Corporate Brand at PIF, expressed enthusiasm about the collaboration, stating, “We are delighted to partner with CONCACAF as the confederation enters an exciting period. Together, we will advance a series of initiatives to create a positive and lasting impact across all CONCACAF competitions.”

The timing of this partnership is significant, coming two years before the region hosts the 2026 FIFA World Cup in the United States, Canada, and Mexico. CONCACAF president and FIFA vice president Victor Montagliani welcomed the collaboration, noting, “This is a pivotal time for PIF to connect with football in CONCACAF. Interest in the sport is growing rapidly in our confederation and will reach new heights as major CONCACAF competitions take place over the next two years, and we get closer to the biggest-ever FIFA World Cup taking place in our region in 2026.”

PIF’s expanding portfolio of sports investments now includes ventures in golf, football, tennis, and electric motorsports, demonstrating its broad commitment to the world of sports.