Newcastle United owners £2.4bn investment in doubt as Tiger Woods claims PIF is not needed

After months of talks, the owners of Newcastle United have suffered a setback in their efforts to complete a merger with the PGA Tour.

Tiger Woods has now asserted that golf does not require the Public Investment Fund because of funding provided by the group headed by the owners of Liverpool, Fenway Sports Group.

Recent £2.39 billion deal between the PGA Tour and the freshly established Strategic Sports Group has shaken PIF’s position in merger negotiations. Furthermore, the 15-time major winner has responded to remarks made by Jordan Spieth last week that PIF was “not needed.”

In the end, Woods stated, “we would like PIF to be a part of our tour and a part of our product.”

“Monetarily, we don’t require that at this time. The amount of money they have brought to the table and the amount we first agreed upon in the framework agreement are exactly the same. Anything more will certainly go above and beyond this. Right now, we’re in a fantastic situation.

PIF is rumored to be seeking to invest an additional £2.39 billion in the PGA Tour. A framework agreement was struck in June between PIF and the tour to merge their assets into a new company. However, the deal deadline of December 31 was missed, casting doubt on the merger’s prospects.

With the Strategic Sports Group’s participation and PIF’s intense examination in the US, the wealth’s fund leverage in the transaction has now greatly decreased. Yasir Al-Rumayyan, the governor of LIV Golf and Newcastle United, was supposed to chair the new organization, but it now appears improbable. Woods asserted, “The PIF deal obviously is ongoing,” and disclosed that he had never met or spoken with Yasir Al-Rumayyan, the PIF governor and chairman of LIV Golf. “We have strengthened our cooperation with SSG. PIF is still in effect, and negotiations are underway.

However, Woods seems content with the way things are going as of right now, saying, “To be honest with you, the consortium that they have at SSG, the partners that have come together to be a part of the group, is quite remarkable in the sports industry.” They are amazing leaders, and I believe this inspires excellent leadership at a time when we will need it most. We are excited about the brilliant minds and suggestions they have to improve our tour.