PGA Tour says LIV merger attracts unsolicited investor interest

PGA Tour says LIV merger attracts unsolicited investor interest
The PGA Tour has said its planned merger with Saudi-backed LIV Golf and DP World Tour has garnered unsolicited interest from investors as it continues to finalize an agreement with the Public Investment Fund and the DP World Tour. (File/AFP)
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Updated 28 September 2023
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PGA Tour says LIV merger attracts unsolicited investor interest

PGA Tour says LIV merger attracts unsolicited investor interest
  • Bloomberg News said inclusion of outside investors could help appease politicians who have voiced concerns the deal would amount to a takeover of a US institution by LIV Golf, bankrolled by the PIF
  • Talks with Saudi Arabia’s Public Investment Fund and DP World are progressing, with the goal of reaching a definitive agreement by Dec. 31

NEW YORK: PGA Tour said its planned merger with Saudi-backed LIV Golf and DP World Tour has garnered unsolicited interest from investors as it continues to finalize an agreement with the Public Investment Fund and the DP World Tour.

The PGA said that while it did not solicit additional investment interest, it has a responsibility to members, sponsors and fans to thoroughly evaluate all potential options.

“Our focus continues to be on finalizing an agreement with the Public Investment Fund and the DP World Tour, however, our negotiations have resulted in unsolicited interest from other investors,” PGA said in a statement on Wednesday.

Any investments that come from the talks will be made into PGA Tour Enterprises, a subsidiary of the PGA Tour, which it would permanently control.

Bloomberg News, which earlier reported the news, said inclusion of outside investors could help appease politicians who have voiced concerns the deal would amount to a takeover of a US institution by LIV Golf, bankrolled by the PIF.

PGA said additional investor interest is not about politics, but because the PGA Tour has, for the first time, created an investment vehicle in PGA TOUR Enterprises and its business is strong.

PGA added talks with Saudi Arabia’s Public Investment Fund and DP World are progressing, with the goal of reaching a definitive agreement by Dec. 31.

In June the PGA Tour, DP World Tour and LIV circuit announced an agreement to merge and form one unified commercial entity.


Henrik Stenson, Kevin Na to play at season-ending Saudi Open in Riyadh

Henrik Stenson, Kevin Na to play at season-ending Saudi Open in Riyadh
Updated 37 sec ago
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Henrik Stenson, Kevin Na to play at season-ending Saudi Open in Riyadh

Henrik Stenson, Kevin Na to play at season-ending Saudi Open in Riyadh
  • The tournament, backed by the Public Investment Fund, will take place at Riyadh Golf Club from Dec. 14 to 17

RIYADH: Golfers Henrik Stenson and Kevin Na are to participate in the Saudi Open championship.

The tournament, backed by the Public Investment Fund, will take place at Riyadh Golf Club from Dec. 14 to 17.

Stenson said: “I am greatly looking forward to playing in the Saudi Open, as it joins to the Asian Tour. This will be my first visit to the capital, Riyadh, and Riyadh Golf Club, and I am excited to see the golf course and enjoy it in front of the fans.

“Playing against the top players on the Asian Tour in the season finale is the perfect way to end 2023, and I am determined to win the cup,” he added.

The tournament will offer players a chance to secure a place on next year’s Asian Tour, with the top 65 players in the final standings of the Saudi Open earning a chance to qualify for the 2024 season.

American golfer Andy Ogletree currently leads the rankings ahead of Miguel Tabuena.

Golf officials in the Kingdom have invited a new generation of Saudi golfers as well as amateur players to take part, including Khalid Waleed Atiya and Ali Al-Sakka.

Additionally, 12 other invitations have been extended to professionals and amateurs from Morocco, Bahrain, Egypt, the UAE, and Qatar.

Tickets are now available to purchase through the WeBook ticketing platform, with daily passes starting at SR25 ($6.7), and season permits also available.


2-time Major winner and reigning Masters champion Jon Rahm joins LIV Golf

2-time Major winner and reigning Masters champion Jon Rahm joins LIV Golf
Updated 08 December 2023
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2-time Major winner and reigning Masters champion Jon Rahm joins LIV Golf

2-time Major winner and reigning Masters champion Jon Rahm joins LIV Golf
  • Rahm is one of the most dominant players of the past decade
  • Spaniard will help expand league, says LIV Golf CEO Greg Norman

LONDON/NEW YORK/FLORIDA: Two-time major winner Jon Rahm, the reigning Masters champion, has joined LIV Golf, it was announced by the organization on Thursday.

Rahm will compete in the LIV Golf League beginning next season, which begins at LIV Golf Mayakoba in Mexico from Feb. 2 to 4.

“I am proud to join LIV Golf and be part of something new that is bringing growth to the sport,” said Rahm. “I have no doubt that this is a great opportunity for me and my family and am very excited for the future.”

LIV Golf Commissioner and CEO Greg Norman said: “When I first met Jon at the age of 17, I knew then that the golfing world was about to witness the birth of a new star. Jon has consistently validated that he is one of the top players in the world.

“He’s a generational talent who has proven his merit as a multiple major champion and tremendous ambassador for global golf by placing the game ahead of himself.

“There are very few athletes with his pedigree of talent, leadership, poise, and commitment to bringing progress to the sport on a worldwide stage. We couldn’t be more excited to welcome Jon to the LIV Golf family as the league continues preparations for a huge 2024 and beyond.”

Added Lawrence Burian, LIV Golf chief operating officer: “LIV Golf is here to stay. The addition of Jon reemphasizes that our league is not slowing down. We are continuing to invest and build aggressively for LIV’s long-term and exciting future.”

Rahm’s impact as one of the most dominant players of the past decade spans the globe. The 29-year-old has amassed 20 wins, including the 2023 Masters, 2021 US Open, and the DP World Tour Championship three times (2017, 2019, 2022). The Spaniard has played in three consecutive Ryder Cups, helping lead Team Europe to victory in 2018 and 2023. This year, Rahm won four times while also finishing tied for second in the 151st Open Championship and tied for fifth in the DP World Tour Championship.

Rahm has earned 93 top-10 finishes with accolades including 2021 PGA of America Player of the Year, two-time European Tour (DP World Tour) Golfer of the Year, and 2019 European Tour Race to Dubai Winner. Before turning pro, Rahm was the world’s No. 1 amateur for a record 60 weeks, and twice won the Ben Hogan Award at Arizona State University as the nation’s top collegiate golfer.

Details of Rahm’s team will be announced at a later date. He joins LIV Golf’s star-studded, international field returning in 2024 with many of the sport’s biggest names. This includes 2023 individual champion Talor Gooch (Smash GC), 2020 US Open champion Bryson DeChambeau (2023 Team Champions Crushers GC), 2022 Open Champion Cameron Smith (Ripper GC), 2023 PGA Championship winner and five-time major champion Brooks Koepka (Smash GC), six-time major winner and World Golf Hall of Famer Phil Mickelson (HyFlyers GC), two-time major winners Dustin Johnson (4Aces GC), Bubba Watson (RangeGoats GC) and Martin Kaymer (Cleeks GC).

LIV Golf competition tees off in February and features 12 regular season tournaments, an Individual Championship and Team Championship in new and returning markets across the world. Fans are encouraged to sign up for free to LIV X to receive exclusive updates and access, including information on hospitality tickets and ground passes for LIV Golf events which include live music and fan activities for all ages.

Throughout the season, the LIV Golf League competition will air in the US on Saturdays and Sundays on The CW, The CW App and LIV Golf Plus, with Friday rounds carried on The CW App and LIV Golf Plus. In addition, LIV Golf tournaments are carried globally on LIV Golf Plus, the LIV Golf YouTube channel and on more than a dozen international broadcast partners, delivering league broadcasts in over 180 territories to more than 380 million homes worldwide. For more information on how to watch the LIV Golf League, visit LIVGolf.com/where-to-watch.

LIV Golf is owned and operated by LIV Golf Investments whose focus is on sustainable investments to enhance the sport’s ecosystem.


Spanish ace Rahm poised to join LIV Golf: Reports

Spanish ace Rahm poised to join LIV Golf: Reports
Updated 08 December 2023
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Spanish ace Rahm poised to join LIV Golf: Reports

Spanish ace Rahm poised to join LIV Golf: Reports
  • Multiple US media outlets reported on Thursday Major winner set to make the switch

LOS ANGELES: Spanish star Jon Rahm is poised to join LIV Golf in a deal worth hundreds of millions of dollars, multiple US media outlets reported on Thursday.
The 29-year-old two-time major champion, who had previously pledged his loyalty to the PGA Tour during golf’s bitter civil war, could sign for the Saudi-backed circuit by the end of this week, reports said.
The Wall Street Journal, Sports Illustrated and ESPN all reported on Thursday that the reigning Masters champion was finalizing a deal to quit the PGA Tour for LIV.
Rahm’s representatives have not commented on the reported deal, which reports have said could be worth between $300 million and $600 million to the Spaniard.
If Rahm’s defection to LIV is confirmed, he would become one of the biggest stars to join LIV, the upstart circuit whose emergence has upended the golfing world over the past two years.
The looming capture of Rahm comes as the PGA Tour and the Saudi backers of LIV Golf attempt to finalize the details of their bombshell merger announced in June.
A deadline of December 31 has been set to agree a framework for the new PGA-LIV joint venture.
The Journal speculated Rahm’s signing could either be a tactic by LIV’s backers to force the PGA Tour to conclude a deal by the agreed deadline, or a move to give fresh impetus to the rival circuit in 2024 if the proposed joint tie-up collapses.
The possibility of Rahm jumping ship to LIV had once seemed unthinkable.
While LIV successfully recruited major winners such as Brooks Koepka, Phil Mickelson, Dustin Johnson, Bryson DeChambeau and Cameron Smith, Rahm had been one of the most staunch PGA loyalists, repeatedly stating that the riches offered by LIV held no appeal when balanced against the tradition of the PGA Tour.
“I laugh when people rumor me with LIV. I’ve never liked the format,” Rahm said earlier this year.
Last year, Rahm said he had discussed the possibility of a move with his wife Kelley and decided to remain firmly in the PGA Tour camp.
“Money is great, but when Kelly and I started talking about it, we’re like, ‘Would our lifestyle change if we got $400 million?’ No,” Rahm said.
“It would not change one bit. Truth be told, I could retire right now and I could live a very happy life and not play golf again.
“I’ve never really played the game of golf for monetary reasons. I play for the love of the game, and I want to play against the best in the world.”
In February last year, Rahm had given a categorical assurance he would remain with the PGA Tour.
“This is my official, my one and only time I’ll talk about this, where I am officially declaring my fealty to the PGA Tour,” Rahm said.
“There has been a lot of talk and speculation about the Saudi league. It’s just not something I believe is the best for me and my future in golf, and I think the best legacy I can accomplish will be with the PGA Tour.”


Junior Dubai Desert Classic returns for second edition in January 2024

Junior Dubai Desert Classic returns for second edition in January 2024
Updated 07 December 2023
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Junior Dubai Desert Classic returns for second edition in January 2024

Junior Dubai Desert Classic returns for second edition in January 2024
  • The tournament takes place at Emirates Golf Club on Jan. 13 and 14 ahead of the 35th Dubai Desert Classic

DUBAI: Ahead of the 35th edition of the 2024 Hero Dubai Desert Classic, organizers have confirmed that the Junior Dubai Desert Classic will return in January for a second time, to help young golfers in the UAE and beyond gain competitive experience.

Hosted by Hero Dubai Desert Classic in collaboration with Emirates Golf Federation, registration is now open for the 2024 tournament which will take place on Jan. 13 and 14 at Emirates Golf Club.

The first event took place this year, which saw Briton Joe Jones take the title by two strokes.

The youth tournament, open to players aged 18 and under, will take place just a few days before golf’s top stars compete in the senior event from Jan. 18 to 21.

As part of the 36-hole tournament, golf’s young amateurs will each play one round on the famed Faldo and Majlis courses, with access to the driving range, locker rooms and lounges.

Simon Corkill, executive tournament director of the Hero Dubai Desert Classic, said: “The game of golf is growing at a rapid pace across the globe, and it’s no different in the Middle East region with a large number of young players taking to the courses every week.

“As organizers of the Hero Dubai Desert Classic, we are committed to nurturing young talent and developing the sport’s stars of tomorrow regularly and the 2024 Junior Dubai Desert Classic reaffirms this. Not only can juniors look forward to a unique opportunity of playing in world-class facilities in a professional-like tournament setting at the Emirates Golf Club but playing against the best young talents in the region will help their game to the next level.”

Organizers have confirmed the winning player will enjoy a range of exclusive prizes, including invites to the Faldo Series Grand Final 2024 and the Shubhankar Sharma Junior Invitational Final 2024.


Michael Thorbjornsen earns exemption into Dubai Desert Classic as No. 1 in PGA TOUR University

Michael Thorbjornsen earns exemption into Dubai Desert Classic as No. 1 in PGA TOUR University
Updated 05 December 2023
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Michael Thorbjornsen earns exemption into Dubai Desert Classic as No. 1 in PGA TOUR University

Michael Thorbjornsen earns exemption into Dubai Desert Classic as No. 1 in PGA TOUR University
  • 35th edition of tournament will be played at Emirates Golf Club on Jan. 18-21

DUBAI: As the No. 1 player in the PGA TOUR University ranking at the end of the fall college golf season, Stanford senior Michael Thorbjornsen has earned an exemption into the DP World Tour’s Hero Dubai Desert Classic.

The Rolex Series event and the 35th edition of the tournament will be played at Emirates Golf Club between Jan. 18 to 21 and is the third year the tournament has offered an exemption to PGA TOUR University’s top-ranked player.

Thorbjornsen competed in the 2023 Hero Dubai Desert Classic on a sponsor exemption and posted a third-round 64 en route to a T20 finish in his first start on the DP World Tour. He also has four made cuts on the PGA TOUR, highlighted by a fourth-place finish at the 2022 Travelers Championship, and he qualified for the US Open three times.

His junior season at Stanford included wins at the Fighting Illini Invitational and Pac-12 Championship, and he was named 2023 Pac-12 Golfer of the Year and a PING First-Team All-American.

Texas A and M’s Sam Bennett (2022) and Texas Tech’s Ludvig Aberg (2023) were the first two players to earn the PGA TOUR University exemption into the Hero Dubai Desert Classic.

Since their starts in the event, Bennett went on to win the 2022 US Amateur and finished T16 at the 2023 Masters, and Aberg competed for Europe at the 2023 Ryder Cup and has wins at the DP World Tour’s Omega European Masters and the PGA TOUR’s RSM Classic.

Thorbjornsen will join world No. 2 and defending champion Rory McIlroy, who will be searching for his fourth Dallah Trophy in January with organizers set to announce more big players in the coming weeks.

Simon Corkill, executive tournament director of the Hero Dubai Desert Classic, said: “Helping develop the next stars of tomorrow – both locally and overseas – is very important for us and our partnership with the PGA Tour provides a platform for golf’s young rising stars to not only compete against the world’s best professionals but also gain vital competitive experience that will help them take their game to the next level.

“We look forward to welcoming Michael Thorbjornsen to the Hero Dubai Desert Classic in January following an impressive year on the PGA Tour University calendar.”

Golf Channel will air all four rounds live of the Hero Dubai Desert Classic in the US and Canada, with SKY Sports Golf providing live event coverage in the UK and Ireland.

In partnership with the World Amateur Golf Ranking, PGA TOUR University ranks collegiate players based on their average performance in NCAA Division I men’s team competitions, official PGA TOUR tournaments, and select DP World Tour events over a two-year ranking period.