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☆ Neymar joins Saudi club Al-Hilal from PSG in two-year deal
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +4 min

Saudi Professional League (SPL) club Al-Hilal announced that Neymar had signed a contract until 2025, with the Brazilian saying, "I am here in Saudi Arabia, I am Hilali" in a video on the team's social media accounts. "I love winning and scoring goals, and I plan to continue doing that in Saudi Arabia and with Al-Hilal." He scored 118 goals in 173 appearances for the Paris club and won numerous trophies, including five Ligue 1 titles. Neymar won the Champions League with Barcelona in 2015 but had to settle for a runners-up medal in the 2020 final, which PSG lost to Bayern Munich. SAUDI TRANSFERSThe most successful club in Saudi Arabia and Asia, Al-Hilal have won 66 trophies and hold the record for number of league and Asian Champions League titles with 18 and four respectively.

Persons: Al Hilal's, Neymar, Fahd bin Saad Al, Al, Nasser Al, Khelaifi, Germain, We've, Pele, Hilal, Cristiano Ronaldo, Nassr, Ittihad, Karim Benzema, Riyad Mahrez, Edouard Mendy, Roberto Firmino, Kylian Mbappe, Lionel Messi, Angelica Medina, Aadi Nair, Anita Kobylinska, Ken Ferris Organizations: Soccer, Al, Saudi Pro League, REUTERS Acquire, Saudi, Paris St Germain, Champions League, L'Equipe, Saudi Professional League, PSG, Paris, Ligue, Barcelona, Bayern Munich, Paris Saint, Confederations, SAUDI, Asian Champions League, Saudi Public Investment Fund, Qatar, French, Real Madrid, UEFA Champions, France, Argentine, Major League Soccer's Inter Miami, Thomson Locations: Al Hilal, Paris, France, Hilal, Brazil, Saudi Arabia, Europe, Al, Barcelona, Asia, Riyadh, Ittihad, Ahli, Portugal, Real

☆ Neymar set for Saudi's Al Hilal after PSG agree deal
▼ + stars: | 2023-08-14 | by ( Fernando Kallas | ) www.reuters.com time to read: +3 min

Summary Saudi state media report deal is doneTwo year deal would net Neymar $175 millionBrazilian joined PSG in 2017 for record 222 million eurosAug 14 (Reuters) - Brazil forward Neymar is headed for Saudi Arabia after Pro League side Al Hilal agreed a two-year deal with Paris St Germain, Saudi state media reported on Monday. Al Hilal, managed by Portuguese coach Jorge Jesus, play Al Fayha on Saturday with Neymar expected to wear the number 10 shirt. Al Hilal had tried to sign PSG's France international Kylian Mbappe, who was reinstated into the Paris club's first team on Sunday. Strengthening the squad is a priority for the Riyadh-based club, as the Saudi Public Investment Fund announced in June an investment and privatisation project for sports clubs involving league champions Al Ittihad, Al Ahli, Al Nassr and Al Hilal. Cristiano Ronaldo joined Al Nassr last season soon after the World Cup in a deal which made him the highest-paid athlete on the planet, while Al Ittihad signed Karim Benzema from Real Madrid.

Persons: Al Hilal, Neymar, Jorge Jesus, Al Fayha, Luis Enrique's, Kylian Mbappe, Lionel Messi, Al Nassr, Cristiano Ronaldo, Al Ittihad, Karim Benzema, Riyad Mahrez, Edouard Mendy, Roberto Firmino, Alan Baldwin, Shrivathsa Sridhar, Angelica Medina, Toby Chopra, Pritha Sarkar, Hugh Lawson Organizations: PSG, Saudi Arabia, Pro League, Al, Paris St, Ligue, Qatar Sports Investments, French, L'Equipe, Reuters, King Fahd, Barcelona, Lorient, Spanish, France, Kylian, Paris club's, Saudi, Major League Soccer's Inter Miami, Asian Champions League, Saudi Public Investment Fund, Al Ittihad, Saudi Pro League, Real Madrid, Champions, Thomson Locations: Saudi, Brazil, Paris St Germain, Paris, Riyadh, Portuguese, Spanish, Barcelona, Al, Saudi Arabia, Asia, Al Ahli, Real, London, Bengaluru, Mexico City

CNN —With some of the world’s leading soccer players being tempted by the money on offer from Saudi Arabian soccer clubs, the Saudi Pro League’s (SPL) new Director of Football, Michael Emenalo, says the Gulf state is “disrupting the industry, but we are disrupting to enhance. We’re adding value to the industry.”The Saudi Pro League consists of 18 clubs, four of which are 75% owned by the Saudi Public Investment Fund (PIF) – one of the world’s top 10 sovereign wealth funds. Cristiano Ronaldo, N’golo Kanté, Riyad Mahrez and current Ballon d’Or holder Karim Benzema are just a few of players who have joined a variety of SPL clubs over the last few months. That’s true, but there is also a sensible, logical, thoughtful process to making the league better,” said the SPL’s new Director of Football. The new 2023/24 Saudi Pro League season begins on Friday, August 11, with Al-Ahli hosting Al-Hazm.

Persons: Michael Emenalo, Cristiano Ronaldo, N’golo, Riyad Mahrez, Ballon d’Or, Karim Benzema, Emenalo, Germain, Mbappé, Al Hilal’s, coy, ” Emenalo, Darren Lewis, “, that’s, he’s, Jurgen Klopp, Jordan Henderson, Fabinho, Al Ettifaq, Al Ittihad, ”, ” Michael Emenalo, Henderson, – it’s Organizations: CNN, Saudi Pro League’s, Football, Saudi Pro League, Saudi Public Investment Fund, Saudi, Al Hilal, Paris Saint, PSG, SPL, Liverpool, Saudi FA, Al Locations: Saudi Arabian, Gulf, France, Paris, Al Hilal, Saudi, Al, Liverpool, Turkey, Russia, Saudi Arabia, Mahrez, Ahli

☆ Saudi league set to kick off after raiding Europe's top clubs
▼ + stars: | 2023-08-10 | by ( Shady Amir | ) www.reuters.com time to read: +4 min

Soccer Football - Opening of 2023-2024 Saudi Pro League - Jeddah, Saudi Arabia - August 7, 2023 General view of the trophy at the opening of the Saudi Pro League Saudi Pro League Media Office/Handout via REUTERS/File PhotoAug 10 (Reuters) - When the new Saudi Pro League season kicks off on Friday it will herald a new dawn for football in the Gulf kingdom which has spent close to half a billion dollars luring top players and coaches from traditional European powerhouses. Al-Ahli, in particular, are one of the few clubs that have benefited from the Saudi Public Investment Fund's (PIF) project to invest in and privatise clubs, which also include reigning champions Al-Ittihad, Al-Hilal and Al-Nassr. Saudi clubs spent nearly 450 million euros in the close season signing players, most from elite teams in Europe as the PIF created a blueprint for what football fans can expect in transfer windows to come. The league turned heads when Cristiano Ronaldo joined Al-Nassr last season soon after the World Cup in a deal which made him the highest-paid athlete on the planet. The Portugal forward's move paved the way for more household names to sign up for a Saudi league that has increased its size from 16 teams to 18.

Persons: Hazm, Al, Riyad Mahrez, Edouard Mendy, Roberto Firmino, Cristiano Ronaldo, Nassr, Ronaldo's, Nuno Espirito, Karim Benzema, N'Golo, Marcelo Brozovic, Alex Telles, Mane, Luis Castro, Hilal, Jorge Jesus, Ruben Neves, Serbia's Sergei Milinkovic, Savic, Kalidou Koulibaly, Malcom, Steven Gerrard, Jordan Henderson, Ettifaq, Gerrard, Henderson's, Shady Amir, Rohith Nair, Ken Ferris Organizations: Soccer, Saudi Pro League, Saudi Pro League Saudi Pro League Media, REUTERS, Saudi Public Investment, Al, Champions, Saudi, Nuno Espirito Santo, Croatia, Inter Milan, Manchester United, Bayern Munich, Wolverhampton Wanderers, Barcelona, Liverpool, Thomson Locations: Jeddah, Saudi Arabia, Al, Ahli, Ittihad, Hilal, Saudi, Europe, Portugal, Ballon, Senegal, Portuguese, Riyadh, England

The kingdom's sovereign wealth fund reported an AUM of 1.98 trillion riyals for 2021. The PIF said it generated a total shareholders' return of 8% and established 25 companies in 2022, and locally deployed 120 billion riyals in that year in strategic sectors. The PIF said 23% of its AUM were international investments, while 68% were local investments and the remainder were treasury. PIF is the chosen vehicle of Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, to drive an economic agenda aimed at cutting reliance on oil. The fund raised $5.5 billion in February from a green bond sale, following its inaugural green bond that raised $3 billion in October.

Persons: Yasir Othman Al, Mohammed Abdullah Al Jadaan, Ahmed Aqeel Al Khateeb, Ibrahim Abdulaziz Al, Prince Mohammed bin Salman, Majid Abdullah Al Qasabi, Khalid Abdulaziz Al Falih, PIF, Ahmed Elimam, Alex Richardson Organizations: Saudi Public Investment, Saudi Finance, Tourism, Investment, Read, Saudi, Public Investment Fund, Sunday, Aramco, Sanabil Investments, Thomson Locations: Saudi, DUBAI, London , New York, Hong Kong, Saudi Aramco

CNN —Golf’s power structure took a sharp shift to the players Tuesday when Tiger Woods was named as the sixth player director on the powerful PGA Tour policy board. The move gives the players a one-seat advantage on the board after the controversial merger in June between the PGA Tour and Saudi-backed LIV Golf. Five of the policy board members are independent directors, with professional backgrounds in law and business. “I am honored to represent the players of the PGA TOUR. Many elite PGA golfers accepted highly lucrative offers from LIV Golf, including Phil Mickelson, Dustin Johnson, Sergio Garcia and Bubba Watson.

Persons: Tiger Woods, LIV Golf, ” Woods, Jay, Monahan, Woods, Rory McIlroy, Webb Simpson, Patrick Cantlay, Charley Hoffman, Peter Malnati, McIlroy, LIV, “, Golf, Phil Mickelson, Dustin Johnson, Sergio Garcia, Bubba Watson, Sen, Richard Blumenthal, Greg Norman, ” Monahan, Colin Neville, Neville, Ben Morse Organizations: CNN, Tour, PGA Tour, LIV, PGA, Washington Post, Saudi Public Investment Fund, Capitol Hill, Saudi, Premier Golf League Locations: Saudi, Connecticut

☆ Kylian Mbappé: Saudi Arabian club submits world record bid superstar
▼ + stars: | 2023-07-24 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

CNN —Saudi Arabian soccer club Al Hilal has submitted a world-record bid of over $332 million (300 million euros) for Paris Saint Germain (PSG) striker Kylian Mbappé, according to multiple reports on Monday. CNN has reached out to PSG, Al Hilal and Mbappé’s representatives for comment. The current world record fee is $262 million (€222 million) when Neymar moved from Barcelona to PSG in 2017. Al Hilal reached both the FIFA Club World Cup and the AFC Champions League finals last season. Last month, the Saudi Public Investment Fund (PIF) announced that Al Hilal was one of four Saudi clubs that have been transformed into companies, each of which is owned by PIF and non-profit foundations for each club.

Persons: Al Hilal, Kylian Mbappé, Neymar, Mbappé, Nasser Al, Khelaifi, Luis Enrique, “, ” Al, doesn’t Organizations: CNN, Al, Paris Saint Germain, PSG, Saudi, FIFA Club, AFC Champions League, Saudi Public Investment Fund, Sovereign Wealth Fund, French Locations: Saudi Arabian, Japan, Al Hilal, Barcelona, Paris, French, Saudi Arabia, Spanish, Real Madrid

☆ 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

☆ 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

☆ 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, “

☆ PGA Tour defends LIV Golf deal ahead of Senate hearing
▼ + stars: | 2023-07-10 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

Streeter Lecka | Getty ImagesThe PGA Tour has begun its public defense of its deal with Saudi-backed LIV Golf ahead of a key Senate hearing slated for this week. "Given the well-chronicled legal disputes that have existed between the PGA Tour and PIF, we understand the fair and valid questions raised by PGA Tour members, Tour partners, media, fans and now Congress," Price said in the op-ed. Stephenson stepped down as lawmakers appeared likely to start a broad probe into the merger between the PGA Tour and LIV, beginning with Tuesday's Senate hearing. Defending the dealLast month, the PGA Tour and PIF's LIV Golf, as well as Europe's DP World Tour, agreed to merge. The majority of the board that leads the PGA Tour Enterprises will be appointed by the tour and run by Monahan.

Persons: Streeter Lecka, LIV Golf, Ron Price, Price, Randall Stephenson, Stephenson, LIV, Sen, Richard Blumenthal, Ron Johnson, Jay Monahan, Jimmy Dunne, Monahan, Richard Heathcote, Rory McIlroy — Organizations: THE, Sawgrass, Saudi, Athletic, Monday, PGA, PGA Tour, AT, Senate, Senate Homeland Security, Investigations, Saudi Public Investment Fund, Getty, Saudi Arabia Public Investment, PIF Locations: Ponte Vedra Beach , Florida, Saudi, United States, Monday's

Reliance Retail includes Ambani's core retail businesses, including digital and brick-and-mortar stores. It is fully owned by Reliance Retail Ventures, which also houses other retail operations such as international partnerships and the billionaire's consumer goods business. In 2020, Reliance Retail Ventures raised 472.65 billion Indian rupees ($5.72 billion) by selling a 10.09% stake, valuing it at roughly $57 billion based on current exchange rates. EY valued Reliance Retail at 884.03 rupees per share, while BDO valued it at 849.08 rupees, the source said. Reliance Retail has in recent years partnered with a slew of global brands to launch and expand their presence in India.

Persons: Mukesh Ambani, valuers, Ambani, Tiffany, Aditya Kalra, Sriram, Chris Thomas, Savio D'Souza, Louise Heavens, Mark Potter Organizations: Reliance, Reuters, BDO, EY, Reliance Retail Ventures, KKR, Saudi Public Investment Fund, General Atlantic, Reliance Retail, Burberry, Thomson Locations: DELHI, India, New Delhi, Mumbai, Bengaluru

☆ Two PGA tour officials to testify to US Senate panel about merger with Saudi-backed LIV
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] May 25, 2023; Washington, DC, USA; Patrick Reed hits his tee shot on the ninth hole during the Pro-Am tournament as part of the LIV Golf Washington D.C. 2023 event at Trump National Golf Club outside Washington DC. Mandatory Credit: Geoff Burke-USA TODAY Sports/File PhotoWASHINGTON, July 3 (Reuters) - Two PGA Tour officials have agreed to testify before a U.S. Senate panel next week about the tour's merger with Saudi-backed LIV Golf, but LIV officials declined to appear, lawmakers said on Monday. The PGA Tour, DP World Tour and rival Saudi-backed LIV circuit, which had been involved in a bitter fight that split the sport, announced an agreement in early June to merge and form a unified commercial entity. The LIV Golf series is bankrolled by the Saudi Arabia Public Investment Fund (PIV). Blumenthal and Johnson said they had asked Greg Norman, CEO of LIV Golf, and Yasir al-Rumayyan, governor of the Saudi Public Investment Fund which backs LIV, to testify, but they had declined because of scheduling conflicts.

Persons: Patrick Reed, Geoff Burke, LIV Golf, LIV, Ron Price, Jimmy Dunne, Richard Blumenthal, Ron Johnson, Critics, Blumenthal, Johnson, Greg Norman, Yasir al, Norman, Diane Bartz, Jonathan Oatis, Leslie Adler Organizations: LIV Golf, Trump National Golf Club, Washington DC, USA, WASHINGTON, Senate, Saudi, PGA Tour, Investigations, Saudi Arabia Public Investment Fund, PGA, Saudi Public Investment Fund, Public Investment Fund, Thomson Locations: Washington, DC, USA, LIV Golf Washington, Saudi

☆ US Senate panel invites PGA Tour commissioner, LIV CEO to testify on merger
▼ + stars: | 2023-06-21 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Nick Lachance/File PhotoWASHINGTON, June 21 (Reuters) - A U.S. Senate panel on Wednesday invited PGA Tour Commissioner Jay Monahan, Saudi Arabia's Public Investment Fund Governor Yasir al-Rumayyan and LIV Golf CEO Greg Norman to testify at a July 11 hearing. The Justice department has been investigating the PGA Tour for trying to keep its players from defecting to LIV. The PGA Tour, DP World Tour and rival Saudi-backed LIV circuit, which had been involved in a bitter fight that split the sport, announced an agreement to merge and form one unified commercial entity. The LIV Golf series is bankrolled by the Saudi Arabia Public Investment Fund (PIV). The PGA Tour and LIV did not immediately respond to requests for comment on Wednesday.

Persons: LIV, Nick Lachance, Jay Monahan, Yasir al, Greg Norman, Richard Blumenthal, Ron Johnson, Blumenthal, Elizabeth Warren, Ron Wyden, LIV Golf, Critics, Jamal Khashoggi, David Shepardson, Mark Porter, Bill Berkrot Organizations: Canadian, PGA Tour, Oakdale, Country Club, REUTERS, WASHINGTON, U.S, Senate, Wednesday, Saudi, Public Investment, Investigations, PGA, Saudi Public Investment Fund, Justice Department, Saudi Arabia Public Investment Fund, Washington Post, Thomson Locations: Saudi, Toronto , Ontario, Canada, Saudi Arabian

☆ LIV-PGA Tour deal probe urged by Rep. Maxine Waters and Sen. Sherrod Brown
▼ + stars: | 2023-06-16 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —Lawmakers’ calls to investigate the proposed merger between the US-based PGA Tour and Saudi Public Investment Fund–backed LIV Golf are escalating. An investigation by CFIUS would not be the first probe into the surprise merger between the PGA Tour and LIV Golf, formerly bitter rivals. The Senate Finance Committee and the Senate Permanent Subcommittee on Investigations have also opened separate probes into the deal. Waters and Brown acknowledged the multiple investigations in their letter, writing, “We understand and appreciate that CFIUS is, by statute, an authority of last resort. Before the deal announcement, PGA Tour and LIV Golf were locked in a legal battle and traded barbed accusations of unfair competition, but the two organizations agreed to drop all pending litigation under the new agreement.

Persons: LIV, Maxine Waters, Sen, Sherrod Brown, Waters, Brown, “, Mohammed bin Salman, bin Salman, Jamal Khashoggi, Bin Salman, CFIUS, LIV Golf Organizations: CNN, Tour, Saudi Public Investment Fund, Financial Services Committee, Banking, Housing, Urban Affairs Committee, US Treasury Department, Foreign Investment, Treasury, PGA, Wall Street Journal, US Department of Justice, Finance, Investigations Locations: Ohio, United States, “ Saudi Arabia, Saudi, Saudi Arabia

☆ PGA Tour-Saudi deal scrutiny intensifies as Senate Finance Committee investigates
▼ + stars: | 2023-06-15 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —The backlash to the proposed merger between the PGA Tour and LIV Golf intensified as Senate Finance Committee Chairman Ron Wyden, D-Oregon, opened an investigation into the deal on Thursday. The committee will probe the deal between the US-based PGA Tour and the Saudi Public Investment Fund-backed LIV Golf and assess what the deal means for national security. The PGA Tour and LIV Golf did not immediately respond to CNN’s request for comment. The surprise deal this month between the PGA Tour and LIV Golf, competing tours locked in a legal battle before the merger announcement, has faced growing opposition from lawmakers. The US-based PGA Tour said the merger would “unify the game” and all pending litigation between the tours would be dropped under the new agreement.

Persons: LIV Golf, Ron Wyden, ” Wyden, Wyden, Mohammed bin Salman, Bin Salman, Jamal Khashoggi, Elizabeth Warren, LIV, “ Organizations: CNN, PGA, Saudi Public Investment Fund, Saudi, of Justice, PGA Tour, DOJ, Democratic, Senate, LIV Locations: Oregon, United States, Saudi, Saudi Arabia, U.S

☆ PGA Tour Commissioner Monahan recuperating after 'medical situation'
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +2 min

June 13 (Reuters) - PGA Tour Commissioner Jay Monahan is recovering from a "medical situation", the U.S.-based circuit said on Tuesday. A joint statement by Monahan and the PGA Tour Policy Board said day-to-day operations will be led by Tour executives Ron Price and Tyler Dennis during Monahan's absence. The news comes after a tumultuous week in the sport with the PGA Tour announcing a shock merger with the rival Saudi-backed LIV Golf. "The Board fully supports Jay and appreciates everyone respecting his privacy," the PGA Tour said in a statement. Monahan, 53, is the fourth commissioner in the history of the PGA Tour.

Persons: Jay Monahan, Monahan, Ron Price, Tyler Dennis, LIV Golf, Jay, LIV, Tim Finchem, Price, Dennis, Frank Pingue, Hritika Sharma, Peter Rutherford Organizations: PGA Tour, Saudi Public Investment Fund, PGA, U.S, United, LIV, Players, Thomson Locations: U.S, Saudi, United States, Saudi Arabia, Toronto, Hyderabad

☆ PGA-LIV merger has caused confusion, says U.S. Open holder Fitzpatrick
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +2 min

[1/3] Jun 19, 2022; Brookline, Massachusetts, USA; Matthew Fitzpatrick poses with the US Open Championship Trophy after the final round of the U.S. Open golf tournament. "I just don't know what's going on. I don't think anyone knows what's going on. "Even though I guess it is confusing, it's pretty clear that nobody knows what's going on apart from about four people in the world." The U.S. Open begins on Thursday at the Los Angeles Country Club.

Persons: Matthew Fitzpatrick, Bob DeChiara, LIV, England's Matthew Fitzpatrick, Fitzpatrick, Amy Tennery, Pritha Sarkar Organizations: US, U.S, LOS ANGELES, PGA Tour, Los Angeles Country Club, Saudi Arabia's Public Investment Fund, U.S ., PGA, Saudi Public Investment Fund, Thomson Locations: Brookline , Massachusetts, USA, Los Angeles, New York

☆ PGA Tour commissioner reportedly tells employees the reason for LIV Golf merger: 'We cannot compete with a foreign government with unlimited money'
▼ + stars: | 2023-06-10 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

PGA Tour Commissioner Jay Monahan spoke to employees about the merger with LIV Golf, WSJ reported. He reportedly suggested the cost of battling LIV Golf in court and on the green was unsustainable. "The PGA TOUR has never been a more valuable property," which the merger recognized via an investment, she added. PGA Tour announced the merger after a tough year of battling LIV Golf in court and on the green. PGA Tour players who have joined LIV include Phil Mickelson and Bubba Watson.

Persons: Jay Monahan, LIV Golf, —, Joe Monahan, Monahan, LIV, Prince Mohammed bin Salman, Bertrand Guay, Phil Mickelson, Ben Jared, Bubba Watson Organizations: LIV, Saudi, Service, PGA Tour, Street, Getty, Saudi Public Investment Fund, PGA Locations: Ponte Vedra Beach , Florida, AFP, Saudi

☆ PGA merger with LIV a delicate balancing act, says board member Dunne
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +2 min

June 9 (Reuters) - The PGA Tour faces a delicate balancing act in welcoming back LIV Golf players while also ensuring those who stayed loyal to the U.S.-based circuit "feel good" about their decision, PGA Tour board member Jimmy Dunne said. "We have to make sure that whatever it is that we finalise, that they feel good about their decisions (to remain on the PGA Tour)... I don't think it's going to be easy and I don't think we're all going to agree, but I think we can get there." Dunne, who helped broker the merger, also said the PGA Tour was ready to "walk away" if they felt there was anything that would have hurt the game. He added the Saudi Public Investment Fund (PIF) would not control the professional game, especially with PGA Tour Commissioner Jay Monahan installed as CEO of the new entity.

Persons: LIV, Jimmy Dunne, LIV Golf, Rory McIlroy, Dunne, didn't, Jay Monahan, Rohith Nair, Toby Davis Organizations: Tour, LIV Golf, PGA, Golf, Saudi Public Investment Fund, Thomson Locations: U.S, Saudi, Bengaluru

☆ Saudi Arabia's cold-blooded crown prince keeps winning
▼ + stars: | 2023-06-08 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +3 min

The recent PGA-LIV golf merger is the latest example of growing Saudi influence on sports. Originally viewed as a deep-pocketed but unserious distraction from the PGA Tour, they effectively muscled into the picture through sheer financial willpower. The new PGA Tour might look a whole lot like the old one, except with a far wealthier outside party controlling the purse strings. And that's kind of been the Saudi strategy as Crown Prince Mohammed bin Salman has expanded his influence over multiple sports worldwide. Detailed below are the six recent high-profile examples of how the Saudi PIF keeps winning:

Persons: Mohammed bin Salman, LIV, Prince Mohammed bin Salman, Prince Mohammed's, Jamal Khashoggi, Saudi PIF Organizations: Saudi Public Investment Fund, Morning, PGA, LIV, PGA Tour, English Premier League team, Saudi, league, Prince, CIA Locations: England, Saudi, Saudi Arabia

☆ PGA-LIV merger to lift golf to 'new heights,' benefiting these two stocks, Jefferies says
▼ + stars: | 2023-06-07 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The surprise merger announcement between the PGA Tour and the Saudi Arabia-backed LIV Golf league sent shockwaves through the sports world on Tuesday and could have big implications for two golf stocks, according to Jefferies. As part of the deal, the Saudi Public Investment Fund, or PIF, is prepared to invest billions in the new golf league, CNBC's David Faber reported Tuesday. Jefferies analyst Randal Konik said in a note to clients Tuesday that the combined league and additional cash should boost golf's growth. "We believe that this unexpected agreement holds immense potential to elevate the sport of golf to new heights. Jefferies highlighted both stocks as potential beneficiaries of the deal, but said Topgolf Callaway has more "asymmetric upside potential."

Persons: LIV, shockwaves, Jefferies, CNBC's David Faber, Randal Konik, Konik, Topgolf Callaway, Michael Bloom Organizations: PGA Tour, LIV Golf, Saudi Public Investment Fund, Callaway Brands, Acushnet Holdings Locations: Saudi Arabia, PIF, Titleist

☆ Saudi Arabia's Public Investment Fund just reshaped professional golf with the PGA Tour-LIV merger. That's just the start
▼ + stars: | 2023-06-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

The Saudi Public Investment Fund is a government-controlled fund that has $650 billion in assets under management, according to its most recent filing. A state-owned investment fund like the PIF is not unique. Critics of LIV Golf accused the Saudis of backing the new tour as a form of “sportswashing” its reputation. For example it’s not clear exactly how much it invested to start up LIV Golf. CNN has not been able to confirm that report, but what is known is that LIV Golf tournaments have been held on Trump Organization properties.

Persons: petro, LIV Golf, LIV, Yasir Al, Rumayyan, Cristiano Ronaldo, Karim Benzema, ”, Elon Musk, Jared Kushner, Donald Trump’s, Kushner, Mohammed bin Salman, Bin Salman, Jamal Khashoggi, – CNN’s Coy Wire, Jack Bantock, Steve Almasy Organizations: New, New York CNN, Saudi, Saudi Public Investment Fund, Sovereign Wealth Fund, PGA, Soccer, Saudi Aramco, Newcastle United, Saudi Pro League, CNBC, Electronic Arts, EA, Activision Blizzard, Ticketmaster, Carnival Corp, Twitter, Washington Post, CNN, Trump Organization, US State Department, Congress Locations: New York, Europe, Saudi, English, Al, Saudi Arabia, al Qaeda

☆ Golf’s new Saudi deal presents questionable political, business and sporting realities
▼ + stars: | 2023-06-07 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

And the deal is also undeniably a great piece of business, assuming PGA Tour players accept it. And all pending litigation between LIV Golf and the PGA Tour was also mutually ended under the new agreement. He “co-opted the 9/11 community last year in the PGA’s unequivocal agreement that the Saudi LIV project was nothing more than sports washing of Saudi Arabia’s reputation,” the group said in a statement. Unresolved sporting conundrumsThere are as many sporting questions about the PGA Tour/LIV Golf partnership that remain unanswered. Then there is the question of how current PGA Tour members will respond.

Persons: LIV Golf, Arnold Palmer, Jamal Khashoggi, Prince Mohammed bin Salman, –, LIV –, Jay Monahan, Monahan, ”, “, Saudi LIV, ” Monahan, Dustin Johnson, Phil Mickelson, Patrick Reed, Cam Smith, Donald Trump, LIV, Trump, Khashoggi, ” Trump, Joe Biden, Antony Blinken, Tuesday’s LIV, Qataris, Cristiano Ronaldo, Karim Benzema, ” Yasir Al, Rumayyan, of Famer Greg Norman, Collin Morikawa, Mickelson, Alan Shipnuck, Shipnuck Organizations: CNN, PGA, Saudi, Post, Premier League, Global, Families United, Saudi shills, Crown, Formula One, NBA, Tour, Qatar, Soccer, Manchester City, United, Newcastle, Indian Premier League, Al, Real, Saudi Public Investment, “, Saudi Public Investment Fund, CNBC, of Famer, Open, Twitter Locations: Washington, Saudi, Qaeda, Riyadh, China, Western Europe, East, India, United Arab Emirates, Saudi Arabia, Ittihad, Real Madrid, French

☆ Here’s how PGA Tour agreed to merge with Saudi-backed rival LIV Golf
▼ + stars: | 2023-06-06 | 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 EmailHere’s how PGA Tour agreed to merge with Saudi-backed rival LIV GolfCNBC's David Faber sits down with PGA Tour Commissioner Jay Monahan and Yasir Al Rumayyan, governor of the Saudi Public Investment Fund (PIF), to break down how two golfing entities come in agreement to merge, to form a new, yet-to-be-named for-profit company.

Persons: LIV Golf, David Faber, Jay Monahan, Yasir Al Rumayyan Organizations: PGA, Saudi Public Investment Fund Locations: Saudi

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