CONFIRMED: PGA Tour rejects huge Endeavor offer amid LIV Golf peace talks
The PGA Tour has reportedly rejected an offer from Endeavour amid their discussions with LIV Golf's financiers, the PIF of Saudi Arabia.
The PGA Tour has reportedly rejected a private equity offer from one of the richest entities in global sport.
Per Golf Digest, it is said the North American circuit declined an offer from Endeavor.
Endeavor is the parent company of WWE, the UFC and sports agency IMG. It is worth approximately $10bn.
Speaking to Sportico on 27 October, Endeavor's president and chief operating officer, Mark Shapiro, said: "We're big fans of golf, and we'll continue to champion the PGA Tour but we're not going to be an investor at any level."
The PGA Tour announced a stunning framework agreement with LIV Golf's backers, the Saudi PIF, on 6 June.
It calls for the deal to be signed and sealed by 31 December but negotiations could be extended into the new year.
One LIV player recently cast doubt on the deal being agreed at all, owing to its complexity.
"We're no further along in this thing," the player told Golf Channel on the condition of anonymity. "I don't think it's going to happen."
PGA Tour commissioner Jay Monahan was adamant the deal would be agreed when he spoke to the media at the season-ending Tour Championship.
He explained: "If you saw the amount of conversation and the time that the PGA Tour, DP World Tour and PIF are spending working forward from a framework to a definitive, I think would you see the sincerity of the efforts there.
"There's an intensity and there's an urgency and there's a lot of work, good work, that's being done."
PGA Tour members still appear largely in the dark over what is being discussed.
They were given an update before the Shriners Children's Open, which referenced the unsolicited approaches by companies such as Endeavor.
"We remain focused on reaching a definitive agreement with PIF and the DP World Tour, but not surprisingly, these negotiations have resulted in unsolicited outreach and proposals from a number of other interested investors," the memo to players said.
"All of this activity reinforces the Tour's strong position and our potential for growth."
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