The recent announcement that the PGA Tour plans to merge with LIV Golf, a circuit it had been in a year-long feud with, sent shockwaves through the world of golf. However, the implications of this merger go far beyond the sport. Saudi Arabia, which backs LIV Golf, is set to extend its influence throughout professional sports and beyond, investing billions to diversify its economy away from oil. Covert talks led to the deal, with high-profile advisers working on both sides. Saudi Arabia has been on an acquisition spree, buying up Premier League team Newcastle United, and investing in sports such as boxing, F1 racing, and pro wrestling. The kingdom has become a significant presence across the M&A and investment landscape, with private equity and venture capital firms hoping to tap its oil-rich coffers for new capital. The golf deal is not yet finalized, and many questions remain about its impact on the sport and beyond, including whether sponsors will support the PGA Tour/LIV Golf, and whether regulators will approve the deal.
Saudi Arabia’s Global Ambitions Strengthened by PGA Tour-LIV Golf Partnership
