PGA Tour and PIF ‘inching closer to merger agreement… but players want Jon Rahm and Co to HAND BACK the cash from mega-money LIV Golf deals’
The PGA Tour is closing in on a deal with the Saudi Public Investment Fund, which is financing LIV Golf. But Jon Rahm’s $500 million move remains a stumbling block in golf’s ongoing civil war.
This is evident from reports following last week’s meeting between the PIF and PGA Tour officials in New York.
In June 2023, they announced a merger proposal, but talks now mainly revolve around a Saudi Arabian investment in PGA Tour Enterprises.
Bloomberg claims that last week’s talks have brought both sides closer to an agreement on the financial details, but that a deal is far from certain.
It is said that there is still a problem: what happens to the players who signed lucrative contracts to leave the PGA Tour?
The PGA Tour is reportedly ‘moving closer’ to a deal with Saudi Arabia’s PIF, which funds LIV Golf
Jon Rahm’s LIV contract, believed to be worth $500 million, is a subject of tension
Rahm’s LIV contract, signed late last year and reportedly worth $500 million, is particularly hotly debated.
According to Bloomberg, some PGA Tour stars want Rahm – and other players – to give back the money they earned from LIV.
Other proposed solutions could include requiring LIV Rebels to pay fines to participate in events, donating money to charity or forfeiting their future PGA Tour winnings.
According to reports, Rahm and other rebels have so far refused to agree to a deal that would punish them for crossing the divide in golf.
Spanish star Rahm earned $22 million last week after winning the LIV Golf season title
The Spaniard, who last week earned $22 million for winning the LIV Golf individual title, has already appealed against the six-figure fines imposed on him by the DP World Tour at the last minute to save his Ryder Cup future.
Another stumbling block would be convincing PGA Tour stars to participate in LIV Golf events around the world.
Tiger Woods is one of a small group of player directors on the PGA Tour, while Rory McIlroy is a member of the team negotiating with PIF.
Last week’s gathering in New York was fiercely criticized by the families of 9/11 victims, who called it “disgusting, unacceptable and incredibly painful.”