The PGA Tour’s December 31 framework agreement deadline with the Public Investment Fund of Saudi Arabia is set to be missed and LIV Golf loyalist Phil Mickelson has had his say
Phil Mickelson has called on ‘patience’ within professional golf with the PGA Tour set to miss their framework agreement deadline with the Public Investment Fund of Saudi Arabia (PIF).
In June the world of sport was left in shock, after the PGA Tour announced they were set to end their feud with LIV Golf, in the way of a deal with PIF and the DP World Tour. On the back of the announcement both sides set themselves a target of December 31 to sign off a deal, a deadline that will of course be missed.
The slow-paced negotiations between the soon-to-be partners has led to growing frustrations within the sport, especially within the fanbases of the PGA Tour and LIV.
This was a point raised by entrepreneur Joe Pompliano on social media on Friday, who claimed golf fans are ‘exhausted’ by the split within the professional game. One man who has been at the centre of the saga is Mickelson, and in response the six-time major champion urged fans that the wait for an agreement would be worth it.
“Joe, I understand what you are saying,” he tweeted. “However, when it is all said and done, the average fan will see all the best players compete against each other way more often than before AND throughout the world. Sponsors will know what it is they are buying and everyone will end up ahead. Let’s all be patient.”
Mickelson’s comments come after the Telegraph reported that the deadline was set to be extended into the New Year. Per the report, the Tour and PIF have reassessed their target, and are now aiming to sign off the agreement by March, prior to next April’s Masters Tournament.
In December the Tour announced it reached an agreement when it came to their new for-profit entity, but not with their Saudi counterparts. The circuit confirmed it had agreed ‘advanced negotiations’ with U.S.-based investor, Strategic Sports Group (SSG), which included Liverpool and Boston Red Sox Owners Fenway Sports Group.
The deal is set to see SSG pump in £2.4 billion ($3bn) into PGA Tour Enterprises. There was some positive news when it came to the Tour’s proposed merger with LIV Golf though, after the circuit also revealed it remained in negotiations with the Saudi fund.
Speaking on the back of the framework announcement on June 6, PIF chief Yasir Al-Rumayyan claimed the fund were planning on investing ‘billions of dollars’ into golf as part of the agreement. PIF’s move into the world of pro golf came last summer, when they paid an estimated £1.6 billion ($2bn) to start up LIV Golf.
Since then their investment has not stopped there, and was recently topped off by making the record-breaking signing of Masters champion Jon Rahm. The Spaniard became LIV’s biggest coup yet, leaving the PGA Tour for a deal worth a reported £450 million, the third biggest contract in sporting history.
