PGA Tour-PIF, Tiger Woods also in negotiations

Negotiations are underway between the PGA Tour and the PIF, Saudi Arabia’s sovereign wealth fund, to end years of division and create a global golf circuit.

Pga Tour, Tiger Woods

In New York, top executives of the PGA Tour, along with Tiger Woods, have been speaking with representatives of the public investment fund in recent hours.

According to ESPN, negotiations should continue in the coming days with the aim of reaching an agreement. The PGA Tour is an organization that manages the major professional golf tours in the United States. Its headquarters are located in Ponte Vedra Beach, a suburb of Jacksonville, Florida.

The PGA Tour became a separate organization in 1968, when it split from the PGA of America, which is now primarily an association of golf professionals, such as instructors and club managers. The tournament players first formed their own organization, the Association of Professional Golfers (APG).

Later, in 1968, the players abolished the APG and agreed to operate as the PGA “Tournament Players Division”, a fully autonomous division of the PGA, overseen by a new 10-member Tournament Policy Board. In 1981, it had a dispute over marketing issues with the PGA of America and decided to officially change its name.

In late August of that year, it became the “TPA Tour”, which stands for “Tournament Players Association”. The dispute was resolved within seven months, and the tour’s name changed back to the “PGA Tour” in March 1982. Eldrick Tont Woods, better known as Tiger Woods (born December 30, 1975 in Cypress), is an American golfer.

He is considered one of the greatest golfers of all time, and also the greatest of the modern era. In his 20-year career, he won 110 professional tournaments, including 15 majors. This makes him the most successful player in history. He held the OWG World Ranking for a total of 683 weeks, 281 of which were consecutive (from June 12, 2005 to October 30, 2010). He is also the only golfer to have won all four major tournaments of the modern era in a single year (between 2000 and 2001).

In 2014, he became the first athlete in the world to earn more than $1 billion from his victories and endorsement deals.(5) He was later surpassed by Michael Jordan and his net worth is estimated to be $1.8 billion in 2023, making him the second highest-paid athlete of all time.

In 2019, he received the Presidential Medal of Freedom, the highest civilian honor in the United States, from US President Donald Trump.