DIRS.INFO The most relevant business & tech news

☆ There’s a British Open Winner Coaching High School Golf in Ohio
▼ + stars: | 2023-07-19 | by ( Alan Blinder | More About Alan Blinder | ) www.nytimes.com time to read: +1 min

This kind of understated Friday morning is very much how Curtis likes his life two decades after he made his major tournament debut at the British Open — and won. Championship and a Players Championship, a spot on a Ryder Cup-winning team, a few other PGA Tour victories — but never the major-winning magic. He last played a tour event in 2017, finishing with career earnings of more than $13.7 million. Today, he coaches his son’s golf team at Theodore Roosevelt High School in Kent, Ohio, and teaches at a golf academy that bears his name. On Thursday, the Open will begin at Royal Liverpool.

Persons: David Letterman, Ben Curtis, steeling, Curtis, George’s, Theodore Organizations: Royal St, Ryder, Theodore Roosevelt High School, Royal Liverpool Locations: Cleveland, South Carolina, London, Kent , Ohio, Royal

☆ McIlroy in good place to end long major drought
▼ + stars: | 2023-07-19 | by ( Ed Osmond | ) www.reuters.com time to read: +3 min

Victory at the Scottish Open on Sunday, however, continued a consistent year in which McIlroy has recorded eight top-10 finishes. He was second at last month's U.S. Open and the world number two is glad to be back at Hoylake. "It feels like such a long time ago," McIlroy said. "You're trying to rekindle the memories as I was driving from the airport last night and getting onto the Wirral. World number one Scottie Scheffler will lead the challengers along with third-ranked Jon Rahm and defending champion Smith while Tommy Fleetwood could be the best hope of a first English Open champion since 1992.

Persons: Rory McIlroy, McIlroy, St Andrews, Cameron Smith, " McIlroy, you've, it's, I've, Scottie Scheffler, Jon Rahm, Smith, Tommy Fleetwood, Rickie Fowler, Viktor Hovland, Jordan Spieth, Ed Osmond, Toby Davis Organizations: Royal Liverpool, U.S, PGA, St, Scottish, Fleetwood, St Andrews, Thomson Locations: HOYLAKE, England, Hoylake

☆ Scheffler happy to fly under the radar
▼ + stars: | 2023-07-18 | by ( Ed Osmond | ) www.reuters.com time to read: +2 min

Scheffler was in contention to win last year's Open at St Andrews before fading with a closing 74 to finish tied 21st. Just trying to hit it a little bit better, chip a little bit better and putt a little bit better." Missed putts have proved costly for Scheffler but he believes he is close to rediscovering his touch on the greens. "I'm hitting a lot of good putts," he said. "Pretty soon, a lot of those good putts will start falling in the middle of the hole instead of dodging around the side of it."

Persons: Scottie Scheffler, I'm, Scheffler, They're, Ed Osmond, Christian Radnedge Organizations: St, Masters, PGA Championship, U.S ., Hoylake, Thomson Locations: HOYLAKE, England, British

☆ Ecstatic Steph Curry sinks walk-off eagle to win celebrity golf tournament
▼ + stars: | 2023-07-17 | by ( Jack Bantock | ) edition.cnn.com time to read: +11 min

“She knows how much I love this game,” Curry told reporters. Al Messerschmidt / Getty Images Michael Jordan: Any sports fan who has watched "The Last Dance" will know MJ's passion for golf is well-documented. Isaac Brekken / Getty Images Justin Timberlake: The singer and actor has been bringing "SexyBack" to golf for decades. Xaume Olleros / AFP via Getty Images Niall Horan: There's only One Direction the ball is going when the Irish singer-songwriter is at the tee. Ross Kinnaird / Getty Images Tom Holland: Part-time web-slinger, full-time golf swinger -- the "Spider-Man" lead is a self-confessed golf addict.

Persons: Steph Curry, Curry, whisking, Mardy Fish, Ayesha, “, ” Curry, “ It’s, Isaiah Vazquez, Patrick Mahomes, Travis Kelce, Aaron Rodgers, Annika Sorenstam, Joe Pavelski, Al Del Greco, Mario Lemieux, Adam Sandler, Sandler, Gilmore, Shooter McGavin, Christopher McDonald, Al Messerschmidt, Michael Jordan, Davis, Jordan, Isaac Brekken, Justin Timberlake, JT strutting, Matt Sullivan, Catherine Zeta, Jones, Michael Douglas, Douglas, Ross Kinnaird, Tom Brady, Brady, Josh Allen, Carmen Mandato, Orlando Ramirez, Jessica Alba, tross, Xaume Olleros, Niall Horan, There's, Tom Holland, Warren Little, Stephen Curry, Celine Dion, René Angélil, Dion, Sam Levi, Miles Teller, Alice Cooper, Cooper, Kathryn Newton, Newton, Ezra Shaw, Sandy Young, ”, …, you’ve Organizations: CNN, Golden State Warriors, American, Edgewood, Hollywood, NFL, Fish, NHL, American NFL, Canadian NHL, NBA, University of North Carolina, PGA, Chicago, Mission, Getty, Management, BMW PGA, Clarkson Creative, Club, Tahoe, LPGA, Ryder, Celtic, Team, Warriors, Los Angeles Lakers, Western Conference Locations: Stateline , Nevada, Florida, British, Alba, Hainan, AFP, Irish, Terrebonne , Quebec, American, Celtic Manor, Wales

☆ Rory McIlroy’s ‘shot of the year’ clinches epic late victory at windy Scottish Open
▼ + stars: | 2023-07-17 | by ( Jack Bantock | ) edition.cnn.com time to read: +4 min

CNN —Rory McIlroy delivered a sensational finish to triumph at the Scottish Open on Sunday, birdieing the final two holes to snatch victory from home hero Robert MacIntyre. A first ever triumph in Scotland sees the 34-year-old become the first player to win The Scottish Open, The Irish Open and The Open Championship, which returns to Royal Liverpool for the first time since 2014 – the year of McIlroy’s last major triumph – on Thursday. McIlroy celebrates with his mother Rosie after triumph at the 2014 Open Championship at Royal Liverpool. “The Scottish Open will be up there with the event I want to play for the rest of my life. “But it’s not to be just now, and plenty of years ahead … Rory McIlroy’s potentially the best in the world, and he showed why today.

Persons: Rory McIlroy, Robert MacIntyre, “, –, McIlroy, Jared C, Tilton, MacIntyre, Scot, McIlroy lasered, Jon Rahm, ” McIlroy, Rosie, Andrew Yates, Wyndham Clark, ” McIroy, “ I’ve, Octavio Passos, ” MacIntyre, … Rory McIlroy’s, ” Organizations: CNN, Scottish, Renaissance, Irish, Royal Liverpool, Getty, PGA Locations: Scotland, Royal Liverpool, Merseyside, AFP

☆ He Makes $1 Million a Golf Tournament. He Can Thank the Golf War.
▼ + stars: | 2023-07-14 | by ( Andrew Beaton | Louise Radnofsky | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/sports/golf/pga-tour-liv-golf-saudi-arabia-scottie-scheffler-9d431d6f

Persons: Dow Jones Locations: saudi

☆ Saudi golf shot plays through CFIUS hazards
▼ + stars: | 2023-07-14 | by ( Jennifer Saba | ) www.reuters.com time to read: +8 min

U.S. congressional lawmakers scrutinized PGA Tour officials on Tuesday this week about the group’s tie-up with a rival golf tournament owned by Saudi Arabia. Enter the Saudis, who launched an upstart golf tournament last year, LIV Golf, that competed with the U.S.-based PGA Tour and its European counterpart DTP. There are worries that Saudi Arabia, a regime viewed as hostile to women and LGBTQ groups, would have significant sway over golf’s culture. LIV Golf is owned by Saudi Arabia Public Investment Fund. Former AT&T Chief Executive Randall Stephenson resigned from the PGA Tour policy board, the Washington Post reported on July 9.

Persons: State Condoleezza Rice, Darla Moore, Covid, LIV Golf, Phil Mickelson, Brooks Koepka, Yasir Al, Ed Herlihy, Wachtell, Lipton, Katz, hasn’t, Randall Stephenson, Jamal Khashoggi, ”, Richard Blumenthal, –, Sherrod Brown, Maxine Waters, Janet Yellen, LIV Golf’s, Joe Biden hasn't, Saudi Arabian Crown Prince Mohammed bin Salman, Khashoggi, Uncle Sam, Refinitiv, China’s ByteDance, LIV, Stephenson, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Public Investment Fund, Augusta National Golf Club, State, U.S, PGA, LIV, Rosen, Breakingviews, Former AT, PGA Tour, Saudi, Department of Justice, Foreign Investment, U.S . Treasury, Saudi Arabian Crown, Walmart, Visa, Uber Technologies, Nation Entertainment, National Basketball League, Houston Rockets, People’s, NBA, backtrack, FIFA, Qatar, The Justice Department, Treasury, Committee, Homeland Security, Governmental Affairs, Saudi Arabia Public Investment Fund, T, Washington Post, Thomson Locations: Saudi Arabia, United States, American, U.S, South Carolina, Iran, China, Saudi, Hong Kong, People’s Republic, Beijing

☆ Rory McIlroy says he’d rather retire ‘if LIV Golf was the last place on Earth to play golf’
▼ + stars: | 2023-07-13 | by ( Ben Morse | ) edition.cnn.com time to read: +4 min

CNN —Rory McIlroy said on Thursday that he would rather retire than compete on the Saudi-backed LIV Golf tour even if it “was the last place on Earth to play golf.”Four-time major winner McIlroy has been a vocal opponent of the breakaway golf tour ever since it came into existence a few years ago, threatening the very foundations of the sport. “If LIV Golf was the last place to play golf on Earth, I would retire. “I’d play the majors, but I’d be pretty comfortable.”CNN has reached out to LIV Golf and the PGA Tour to offer them the right of reply. Earlier this week, witnesses – including PGA Tour Chief Operating Officer Ron Price and Jimmy Dunne, a company board member who helped broker the deal – faced scrutiny from committee members over the deal. “As long as I get to play golf, I’m happy.

Persons: Rory McIlroy, LIV, “, McIlroy, LIV Golf, ”, Tiger Woods, –, Ron Price, Jimmy Dunne, Richard Blumenthal, Price, Dunne, Sen, ” Dunne, ” McIlroy, Gregory Shamus, Randall Stephenson, ” Stephenson, Jamal Khashoggi, Mohammed bin Salman, Khashoggi, Salman, ’ ’ McIlroy, I’ve, there’s Organizations: CNN, LIV, PGA, Scottish, Saudi Public Investment Fund, LIV Golf, US, Homeland Security, Governmental Affairs, Connecticut Democrat, RBC Canadian Locations: Saudi, American, Connecticut, Saudi Arabia

☆ Mitch McConnell says Congress can't pass an NIL bill unless universities get their act together
▼ + stars: | 2023-07-13 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Mitch McConnell urged a majority of universities to get behind a single name, image, and likeness (NIL) bill. NIL has upended college athletics as states jockey to pass the most expansive law. His observation isn't surprising as some universities, governors, and lawmakers see a benefit in allowing each state to determine its own NIL standards. Having a more expansive state law is now an asset akin to a new practice facility or a massive weight room. Missouri's newly passed NIL law is regarded as one of the most expansive in the country, explicitly allowing coaches and school officials to talk about NIL with potential recruits.

Persons: Mitch McConnell, haven't, McConnell, Hugh Hewitt, I've, Charlie Baker, Republican Sen, Tommy Tuberville, Democratic Sen, Joe Manchin, Nick Saban, Rand Paul, Paul, LIV Golf Organizations: Service, Republican, NCAA, College, Auburn University football, Democratic Locations: Wall, Silicon, Massachusetts, Alabama, Sen, Saudi

The PGA Tour and Saudi Arabia’s sovereign wealth fund, facing pressure from the Justice Department about their ambitions for a new company to shape global golf, have in recent days abandoned a crucial provision of their tentative deal: a promise not to recruit each other’s players. Three people familiar with the change, who spoke on the condition of anonymity to discuss confidential negotiations, signaled that the decision was an early casualty of an antitrust review by Justice Department regulators, who are expected to decide in the coming months whether to try to block the transaction. The tour moved to notify its board of the decision only on Thursday, after The New York Times asked the tour to comment on its reporting. The framework agreement between the tour and the wealth fund included few binding provisions. But one of them was a nonsolicitation clause, which said the tour and wealth fund-backed LIV Golf league would not “enter into any contract, agreement or understanding with” any “players who are members of the other’s tour or organization.”

Persons: LIV, ” Organizations: Tour, Saudi, Justice Department, The New York Times, LIV Golf

☆ The global golf megamerger looks even more confounding after a 3-hour grilling in front of Congress
▼ + stars: | 2023-07-12 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Big questions remain, especially as to why the PGA Tour took the Saudi money without looking elsewhere. The PGA Tour's deal with LIV Golf and Saudi Arabia's Public Investment Fund (PIF) is just an agreement to seek an agreement. This all started when LIV Golf, with golf legend Greg Norman at the lead, started offering PGA Tour players vast sums of money to jump to the new Saudi-backed golf league. The PGA Tour, a non-profit, just did not have the resources to compete with the deep pockets of the Saudis. PGA Tour Commissioner Jay Monahan has yet to testify before Congress.

Persons: LIV Golf, Greg Norman, Sergio Garcia, LIV, Chris Trotman, Sen, Richard Blumenthal, Conn, Tom Williams, Jodi Balsam, Balsam, Jay Monahan, Rob Carr, Jimmy Dunne, Eamon Lynch, Golfweek, Lynch, It's Organizations: Service, LIV, Tour, PGA Tour, Saudi Arabia's Public Investment Fund, PGA, Royal Greens, & Country Club, King Abdullah Economic, Inc, Getty, Brooklyn Law School, NBA Locations: Wall, Silicon, Saudi, Jeddah, King Abdullah, King Abdullah Economic City, Saudi Arabia, PIF

☆ The wildest demand Saudi Arabia made as part of its potential investment (takeover?) in the PGA Tour: get LIV Golf's Saudi boss a Masters green jacket
▼ + stars: | 2023-07-12 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Congress grilled the PGA about its bid to merge with LIV Golf and accept Saudi Arabian investment. As PGA Tour board member Jimmy Dunne put it, "There is simply an agreement to try to get to an agreement." LIV Golf would only play in the fall and not overlap with the heart of the PGA Tour season. What makes the demand even stranger is that the PGA Tour almost certainly does not have the power to grant this. After all, despite the initial fight between the PGA Tour and LIV Golf, none of the defecting players were being withheld from competing in the majors.

Persons: LIV Golf, LIV, LIV Golfand, Jimmy Dunne, Woods, Rory McIlroy, Yasir Al, PIF, Donald Trump, Greg Norman, Chris Trotman, St Andrews, Andrews, Stephanie Asymkos, Augusta Organizations: Augusta National, PGA, Service, PGA Tour, LIV Golf, Investigations, Saudi Arabian Public Investment Fund, LIV, Aramco, Congress, Augusta National Golf, Getty, Augusta National Golf Cub, Golf, St, — Augusta National, Augusta, Uber, Microsoft, Boeing, Disney, English Premier League soccer, Newcastle United, Al, Wall Street Locations: Saudi, Wall, Silicon, Saudi Arabia, St

☆ Fine wine is souring as investment prices sink
▼ + stars: | 2023-07-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Fine wine prices have been rising consistently for years, attracting investors looking to hedge against inflation, economic turmoil and stocks. The company currently manages $375 million worth of fine wine assets (that’s a 45% increase year on year). Fine wine has had a compound annual growth rate of 10% over the last 30 years, according to the Liv-Ex investables index, which tracks the going rates for fine wines. Leading the way in losses is Bordeaux, which experienced the largest drop of all fine wine categories in June. That’s a bit worrisome, said Tiwari, as Bordeaux is the most established region in the fine wine investment market and typically maintains its price stability.

Persons: Jay, David Beckham, Stephen Curry, Liv, ”, Atul Tiwari, That’s, Tiwari, SVB, Rob McMillan, “, we’re, LIV Golf, Chris Isidore, Richard Blumenthal, Ron Price, Jimmy Dunne, Sen, ” Dunne, LIV, Clare Duffy, Clare Organizations: CNN Business, Bell, New York CNN, Cult Wines, SEC, First Citizens Bank, “, PGA Tour, Saudi, PGA, Connecticut Democrat, University of Pennsylvania Locations: New York, Bordeaux, London, Silicon, Napa, California, “ California, Saudi, American, Connecticut, Clare

☆ New Senate Documents Show Tense Buildup to PGA Tour Pact With Saudis
▼ + stars: | 2023-07-11 | by ( Louise Radnofsky | Andrew Beaton | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/sports/golf/liv-pga-saudi-arabia-documents-senate-hearing-92a7b3d7

Persons: Dow Jones Locations: saudi, arabia

☆ PGA official pledges golfers will be able to criticize Saudi Arabia if the tour merges with the Saudi-backed LIV Golf
▼ + stars: | 2023-07-11 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

A top PGA official said golfers would still be able to criticize Saudi Arabia if the tour merges with LIV Golf. Blumenthal also accused the PGA of selling out to the controversial Saudi league. Blumenthal pointed to the fact that initial agreement between the PGA and LIV Golf has a broad non-disparagement clause. Blumenthal cited this record in calling out the PGA for selling out for the LIV merger. He and PGA Tour member Jimmy Dunne, who helped broker an initial agreement with LIV Golf, also repeatedly stressed that the PGA felt it had little choice but to try to find as peace with LIV.

Persons: LIV Golf, Democratic Sen, Richard Blumenthal, Blumenthal, Ron Price, Price, Sen, LIV, Prince Mohammed bin Salman, Jamal Khashoggi, Khashoggi, Jimmy Dunne, Ron Johnson, Johnson Organizations: Democratic, Saudi, Service, PGA, Connecticut Democrat, Public Investment Fund, FIFA, Amnesty, MBS, Washington, Wilson, Republican Locations: Saudi Arabia, Wall, Silicon, of Saudi Arabia, Saudi, Qatar

The PGA Tour on Tuesday defended its controversial deal with the Saudi-backed LIV Golf league before senators, as scrutiny of the agreement intensifies. Representatives from LIV Tour and Saudi Arabia's Public Investment Fund wasn't present at the hearing because CEO Greg Norman is out of the country, according to a spokesperson. PGA Tour operating chief Ron Price and policy board independent director Jimmy Dunne testified before the Senate Homeland Security Committee's subcomittee on investigations. Dunne and Price said they believed the PGA Tour would benefit the most from the proposed deal. The PGA Tour would manage competitions, and has said it is leading the negotiations to reach a finalized deal.

Persons: LIV, Greg Norman, Ron Price, Jimmy Dunne, Dunne, Price, Yasir Al, Rumayyan, Sen, Richard Blumenthal, Conn, It's, Blumenthal, Norman, Ron Johnson, Johnson, CNBC's Organizations: LIV Golf, LIV Tour, Saudi Arabia's Public Investment Fund, PGA Tour, Senate Homeland Security, Comcast, Paramount Global, Disney, Warner Bros, Capitol, PIF Locations: Saudi, American, Yemen

☆ LIV Golf season-ending championship moved from Saudi Arabia to Trump National Doral
▼ + stars: | 2023-07-11 | by ( Jack Bantock | ) edition.cnn.com time to read: +2 min

CNN —The final event of the 2023 LIV Golf season has been switched from Saudi Arabia to Trump National Doral in Florida, organizers announced Monday. Royal Greens Golf & Country Club in Jeddah will now host the final individual event of the LIV Golf season. Tom Dulat/Getty ImagesThe 12 four-man teams will be seeded for the head-to-head team championship based on their finishing positions in the regular season. Two LIV Golf events have been hosted since June’s announcement of a reconciliatory partnership between the breakaway tour, the PGA Tour and the DP World Tour. On Tuesday, two PGA Tour officials are set to testify before a US Senate panel regarding the proposed merger.

Persons: Donald Trump’s, LIV, Tom Dulat, LIV Golf’s, Dustin Johnson, Patrick Reed, Talor Gooch, Pat Perez, Johnson’s, Gooch, Australia’s Cameron Smith, Brooks Koepka, Randall Stephenson – Organizations: CNN, Trump National Doral, Jeddah’s Royal Greens, Country Club, LIV, Royal Greens, & Country Club, PGA Tour, PGA Locations: Saudi Arabia, Florida, Donald Trump’s Miami, Jeddah, Saudi

☆ PGA officials say they had no choice but to reach deal with the Saudis
▼ + stars: | 2023-07-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Two top officials of the PGA Tour said the sport’s governing body had no choice but to reach a truce in its yearlong battle with LIV Golf and try to reach a merger with the Saudi-funded tour. But Ron Price, the chief operating officer of the PGA Tour, and Jimmy Dunne, a board member of the tour’s governing body, both said that the framework of the planned merger was the best chance to allow the PGA Tour to keep some measure of control over the sport. He pointed out that the Saudi Public Investment Fund, which is funding LIV Golf, has 500 times the financial resources as the PGA Tour. “It would be grossly unfair to expect the PGA Tour to bear the full burden of holding Saudi Arabia accountable. The committee released a 276 page report with details of the legal battle and the negotiations between LIV and the PGA Tour.

Persons: LIV Golf, “, ”, Richard Blumenthal, Ron Price, Jimmy Dunne, Sen, ” Dunne, LIV, Price, Ron Johnson of, it’s, ” Johnson, Blumenthal, Roger Devlin, Dunne, ” Blumenthal, “ It’s, … Organizations: New, New York CNN, PGA Tour, Saudi, PGA, Connecticut Democrat, Republican, Saudi Public Investment Fund, Saudi Public Investment, ” Locations: New York, Saudi, American, Connecticut, Ron Johnson of Wisconsin, Saudi Arabia, British, “

☆ Former DoJ official breaks down Senate hearing on PGA-LIV deal that reshapes pro golf
▼ + stars: | 2023-07-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer DoJ official breaks down Senate hearing on PGA-LIV deal that reshapes pro golfAnthony Coley, former Treasury deputy assistant secretary, joins 'Power Lunch' to discuss the Senate's PGA Tour-Liv golf merger hearing

Persons: LIV, Anthony Coley Organizations: DoJ

☆ Sen. Ron Johnson: We can't look to PGA Tour to be the only party to hold the Saudis accountable
▼ + stars: | 2023-07-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Ron Johnson: We can't look to PGA Tour to be the only party to hold the Saudis accountableSen. Ron Johnson (R-Wis.) joins 'Squawk Box' to discuss the state of the LIV Golf - PGA Tour merger ahead of a bipartisan Senate hearing to look at the deal's implications for the future of golf and Saudi Arabia's influence on the United States.

Persons: Email Sen, Ron Johnson, Sen, LIV Organizations: Email, Tour Locations: Saudi, United States

☆ Lucid, Activision, EA, Uber: Here's where Saudi Arabia's sovereign wealth fund has invested
▼ + stars: | 2023-07-11 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Saudi Arabia's sovereign wealth fund, known as the Public Investment Fund, is an active player in U.S. public and private markets. But among the documents disclosed in the recent PGA-LIV merger hearings was a previously unreported list of the sovereign wealth fund's top public equity holdings, valued at about $35.5 billion. The list, which was updated as of March 31, shows a $8.9 billion stake in electric automaker Lucid , constituting about 25% of PIF's equity holdings. PIF's second-largest stake, in Activision Blizzard , was valued at $3.3 billion and amounted to 9.1% of PIF's public equity holdings. Google accounts for 2.87% of the Nasdaq by weight but made up a mere 1.2% of the PIF's $35.51 billion public portfolio.

Persons: PIF, PIF's, Prince Mohammed bin Salman Organizations: Public Investment Fund, Activision Blizzard, Trade, Electronic Arts, Nasdaq, Meta, Booking Holdings Locations: Saudi, Saudi Arabia

The PGA Tour sought the ouster of Greg Norman, the two-time British Open champion who became the commissioner of the insurgent LIV Golf league, as a condition of its alliance with Saudi Arabia’s sovereign wealth fund, according to records that a Senate subcommittee released on Tuesday. The tour and the wealth fund did not ultimately agree to the proposal — crafted as a so-called side letter to a larger framework agreement — and, for now, Norman remains atop LIV. But the deliberations reflect an enmity forged over decades of hostilities between the tour and Norman, one of the most talented players in professional golf history who often chafed at the sport’s economic structure. And they underscore the tensions that could linger if the deal closes. The glimpse into the negotiations between the tour and the wealth fund came as the Senate’s Permanent Subcommittee on Investigations began its first hearing into the arrangement, which calls for the business ventures of the tour, the wealth fund and the DP World Tour to be brought into a new, for-profit company.

Persons: Greg Norman, LIV, Norman Organizations: LIV Golf, LIV, Investigations Locations: Saudi

☆ Saudi adviser proposed giving Tiger Woods and Rory McIlroy ownership of LIV Golf teams, documents show
▼ + stars: | 2023-07-11 | by ( Wayne Sterling | ) edition.cnn.com time to read: +2 min

CNN —Prior to a truce between the PGA Tour and LIV Golf last month, an adviser to the Saudi Public Investment Fund proposed that Tiger Woods and Rory McIlroy could own LIV Golf teams and play in the Saudi-backed tour, according to a 276-page report released by the US Senate Permanent Subcommittee on Investigations on Tuesday. In an April 26 meeting, PCP Capital Partners, a Saudi PIF adviser, presented a slideshow to PGA Tour board member Jimmy Dunne and PGA Tour Policy Board Chairman Edward Herlihy entitled “The Best of Both Worlds.”The slideshow proposed that McIlroy and Woods would own LIV Golf teams and participate in at least 10 LIV Golf events, documents showed. A May 24 email also revealed PGA Tour officials intended to fire LIV Golf CEO Greg Norman after the merger. Norman has been an advocate for the rival Saudi tour and a fierce public critic of the PGA Tour. The framework agreement between the Saudis and the PGA Tour needs to be approved by the PGA Tour’s 10-member policy board.

Persons: LIV, Woods, Rory McIlroy, Jimmy Dunne, Edward Herlihy, McIlroy, Yasir Al, Greg Norman, Norman, Jay Monahan’s, PIF, Roger Devlin, Dunne, Delvin, Rumayyan, ” Devlin, Devlin, “, McIlroy “ Organizations: CNN, PGA, Saudi Public Investment Fund, LIV Golf, US, Capital Partners, Tour, Augusta National, International Golf Federation, Saudi, PGA Tour, LIV, Fund, Al Locations: Saudi, Saudi Arabia, Dubai, Rumayyan

☆ Senators Ready to Grill the PGA Tour About Its Saudi Deal
▼ + stars: | 2023-07-10 | by ( Louise Radnofsky | Andrew Beaton | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ The Saudi-back LIV golf league is moving its possible last ever championship to Trump's Doral golf course
▼ + stars: | 2023-07-10 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

LIV Golf will host its championship tournament at a Trump-owned golf course for its second straight year. The golf league moved the championship from Saudi Arabia where it was initially scheduled. The PGA has said it will merge with the controversial Saudi-backed golf league. The decision means that for the second straight year, LIV's golf championship will be held at Trump's Doral course. Before their merger, LIV and the PGA were in fierce competition to retain some of the sport's most successful golfers.

Persons: LIV, Donald Trump's Trump, Trump, Jamal Khashoggi, Prince Mohammed bin Salman, Randall Stephenson, Rory McIlroy, Dustin Johnson, they're, Johnson Organizations: Trump, Service, Donald Trump's Trump Doral, Golf Club, Doral, Capitol, PGA, Golf, ESPN, Saudi, Washington Post Locations: Saudi Arabia, Saudi, Wall, Silicon, Miami, Jeddah

Search resuls for: "PGA"

25 mentions found