Saudi PIF focus on different sport in light of ‘complicated discussions’ with PGA Tour
Saudi Arabia’s Public Investment Fund (PIF) has redirected its focus to football as its protracted negotiations with the PGA Tour remain unresolved. PIF, the financial backer of LIV Golf, recently announced a partnership with the Confederation of North, Central America and Caribbean Association Football (CONCACAF), highlighting its growing interest in football amid ongoing discussions with…
Saudi Arabia’s Public Investment Fund (PIF) has redirected its focus to football as its protracted negotiations with the PGA Tour remain unresolved. PIF, the financial backer of LIV Golf, recently announced a partnership with the Confederation of North, Central America and Caribbean Association Football (CONCACAF), highlighting its growing interest in football amid ongoing discussions with the PGA Tour.
In June 2023, PIF and the PGA Tour made headlines with a proposed framework agreement aimed at merging their commercial operations, including those of LIV Golf and the DP World Tour, into a new company. However, more than a year later, progress toward finalizing this merger has been slow. Despite the involvement of high-profile golfers like Tiger Woods and Rory McIlroy, the deal remains elusive.
PGA Tour Commissioner Jay Monahan recently described the negotiations as “very complicated.” He remarked, “Given the level of interaction and ongoing discussions, it’s hard not to remain hopeful.” Monahan emphasized that talks are still progressing, stating, “We’re in a good place with the conversations, and that’s what matters most.”
Regardless of the outcome with the PGA Tour, LIV Golf is expected to continue operating independently. Many in the industry hope that a merger between PIF and the PGA Tour could help heal the deep rift in professional golf.
With the PGA Tour discussions dragging on, PIF has turned its attention to expanding its footprint in football. After acquiring an 80% stake in Newcastle United Football Club in 2021, PIF has now partnered with CONCACAF to support football development across North America, Central America, and the Caribbean.
The partnership aims to enhance football initiatives, with a particular focus on increasing youth participation in the sport across all 41 CONCACAF member federations. Mohammed AlSayyad, Head of Corporate Brand at PIF, expressed excitement about the collaboration, saying, “We are thrilled to partner with CONCACAF during this exciting time. Together, we will drive initiatives that will have a positive and lasting impact on all CONCACAF competitions.”
This partnership comes at a crucial time, just 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 partnership, stating, “This is a significant moment for PIF to engage with football in CONCACAF. Interest in the sport is rapidly growing in our region and will reach new heights as we approach the biggest-ever FIFA World Cup in 2026.”
PIF’s expanding portfolio now spans multiple sports, including golf, football, tennis, and electric motorsports, underscoring its commitment to investing in global sports ventures.
