The recent partnership between Saudi Arabia’s LIV Golf series and the PGA Tour has caused a stir in the sports world, with industry insiders wondering which sport will be next to receive backing from the country’s Public Investment Fund (P.I.F.). While the P.I.F. has invested in WWE, Formula 1, and national soccer, previous human rights violations have hindered deals in the United States. However, the PGA Tour was motivated by business concerns and overrode their moral concerns to reach the deal with LIV Golf. Observers predict that investing in US sports teams could be the next step for the P.I.F., as evidenced by the NBA’s recent rule change. Meanwhile, experts suggest that tennis is the best candidate for a rival tour, similar to LIV Golf, as it only needs a dozen or so players to create an elite tour. P.I.F.’s investments in global businesses include Uber, Lucid, and the SoftBank Vision Fund, emphasizing the sovereign wealth fund’s commitment to investing in new and emerging markets. Yasir al-Rumayyan, governor of P.I.F. and chairman of Saudi Aramco, has led the fund’s global expansion, though his newfound prominence puts him in a difficult position should P.I.F.’s investments fail to pay off.
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