Tiger Woods Says PGA Tour Doesn't Need Saudi Money, But Doesn't Slam Door Shut On Future Deal
Tiger Woods doesn't believe that the PGA Tour needs a presumed multi-billion dollar investment from the Saudi Public Investment Fund (PIF), at least not at this exact moment in time.
The PGA Tour and Saudi PIF entered into a framework agreement in June 2023, and at the time, it seemed as if a deal between the two sides to create a for-profit entity would happen sooner rather than later. Instead, negotiations are still ongoing at what feels like a snail's pace and the Tour has since struck a deal with Strategic Sports Group, a consortium of American investors, worth $3 billion.
The PGA Tour's memo announcing its new deal with Strategic Sports Group did note that negotiations with the Saudi PIF were still ongoing, but the two sides coming together seems more improbable than ever.
Tiger Woods, who serves as a player director on the PGA Tour, thinks this new influx of American dollars into the Tour means that Saudi investment funding isn't needed in the immediate future.
"Ultimately, we would like to have PIF be a part of our tour and a part of our product," Woods said. "Financially, we don't right now, and the monies that they have come to the table with and what we initially had agreed to in the framework agreement, those are all the same numbers. Anything beyond this is going to be obviously over and above. We're in a position right now, hopefully we can make our product better in the short term and long term."
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Woods isn't the only prominent player on Tour to share this sentiment.
Shortly after the Strategic Sports Group deal was made official, Jordan Spieth stuck his flag in the camp that Saudi funding isn't needed. While Woods left the door open for a future coming together, Spieth was a bit more emphatic. The three-time major winner was a bit more focused on LIV Golf - which is solely funded by the Saudi PIF - and its players striking unification with the PGA Tour.
"I don't think that it's needed. I think the positive would be a unification, but I think that, like I mentioned before, I just think it's something that is almost not even worth talking about right this second given how timely everything would be to try to get it figured out," Spieth explained…"But I think the short answer is we don't have to and I think the long answer is the positive there is a unification."
During his press conference ahead of this week's Genesis Invitational, Woods made note that there are "daily, weekly" discussions between all involved about a pathway for LIV players to return and play in PGA Tour events. What that path may look like is a mystery at this point.