Saudi PIF focus on different sport in light of 'complicated discussions' with PGA Tour
Saudi Arabia's Public Investment Fund has turned its immediate attention to football as the waiting game continues with PGA Tour.
The Saudi Arabia Public Investment Fund (PIF) has switched its immediate attention to a completely different sport as its 'complicated' waiting game continues with the PGA Tour.
LIV Golf's bankrollers, PIF, have just announced a new partnership with The Confederation of North, Central America and Caribbean Association Football. (CONCACAF) amid its ongoing merger talks with the PGA Tour.
PIF and the PGA Tour announced their shock framework agreement to the world in June 2023.
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An agreement appeared to be in place to combine the PGA Tour and LIV Golf's commercial operations and rights into a new company, alongside the DP World Tour.
But some 14 months on, the PGA Tour and PIF are seemingly not any nearer to striking a deal.
That's even with Tiger Woods and Rory McIlroy both heavily involved in the discussions.
"They're very complicated discussions," PGA Tour Commissioner Jay Monahan declared last week in his latest conversation to reporters about their merger with PIF.
"There's a lot of elements to them. When you have the level of interaction, we're continuing to meet and move forward and discuss and debate, you can't be anything but hopeful."
Monahan added that talks are still ongoing, a line he has toed just about all year:
"As it relates to times and timeframes and where we are, I'll just say we're in a good place with the conversations. That's the most important thing."
While LIV Golf is still apparently going to run on its own whatever happens, there is hope in the industry that a merger between PIF and the PGA Tour would go some way to ending the current huge divide in professional golf.
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With slow progress being made on a deal with the PGA Tour, news has emerged this week that PIF have delved further into the world of football.
The Public Investment Fund of Saudi Arabia first entered the sport when purchasing an 80% stake in Newcastle United Football Club in 2021.
In the last few days, PIF has now partnered with CONCACAF in a bid to develop football at all levels across North America, Central America, and the Caribbean.
The partnership will reportedly 'push forward soccer development initiatives, particularly focusing on youth access to the sport in all 41 CONCACAF federations.'
"We are delighted to partner with CONCACAF as the confederation enters an exciting period," said Mohammed AlSayyad, Head of Corporate Brand at PIF.
"Together, we will advance a series of initiatives to create a positive and lasting impact across all CONCACAF competitions.
"As PIF expands its portfolio of inspiring sponsorships, our commitment to investing in sport remains constant."
The partnership between PIF and CONCACAF comes two years before the region hosts the 2026 FIFA World Cup in the United States, Canada and Mexico.
"We are very pleased to announce this new strategic partnership which will support the confederation in developing all levels of football across our region," said CONCACAF president and FIFA vice president Victor Montagliani.
"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 ever-growing portfolio of sporting projects now includes golf, football, tennis and electic motorsports.
