Possible Good News: PGA Tour's deal with LIV Golf's Saudi backers, PIF, is 'falling apart'
The framework agreement between the PGA Tour and LIV Golf is falling apart, according to a report.
Golf's two warring sides had seemingly called a truce in June when the PGA Tour performed a shock U-turn and agreed to an investment from Saudi Arabia's PIF.
However, it appears the sport's civil war could rear its ugly head again as the deal between the PGA Tour and PIF is close to collapsing, according to Alan Shipnuck.
Shipnuck, who released his book 'LIV and Let Die,' which details the ugly fallout from golf's bitter civil war between the PGA Tour and the Saudi breakaway, last month, claimed that New York-based private equity firm Fenway Partners has submitted a bid that could usurp the PIF's. The Tour is said to be committed to a new business model but not necessarily with PIF, according to Shipnuck. He added that the framework agreement was aspirational rather than 'binding'.
He suggested that the two sides had announced the truce without fully figuring out the logistics, claiming that the press release regarding the merger 'should have said "Lawsuits dropped, we'll figure out the rest later."'
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