Report: Monahan in Saudi Arabia meeting with PIF governor

PGA Tour commissioner Jay Monahan is in Saudi Arabia this week meeting with the governor of that country’s sovereign wealth fund, according to a report in the Sports Business Journal.

Monahan and Yasir Al-Rumayyan were scheduled to meet in November to continue to negotiate a possible definitive agreement that would combine the Tour, the European circuit and LIV Golf – which is owned by the Saudi Public Investment Fund – under a new, for-profit entity called PGA Tour Enterprises.

Although a Tour spokesperson declined to comment on the report, according to the SBJ, this is “believed to be” the first time Monahan and Al-Rumayyan have met in person since last summer when they negotiated the framework agreement that opened the door to a larger deal.

The London Times reported that Monahan and Al-Rumayyan had recently had a lengthy phone conversation and that negotiations were progressing between the two sides. The parties also agreed to extend a Dec. 31 deadline to reach a definitive agreement.

DP World Tour CEO Keith Pelley announced last week he was leaving the European circuit to join Maple Leaf Sports & Entertainment in April and he told reporters he’s confident a definitive agreement can be reached before his exit.

The Tour also continues to negotiate with Strategic Sports Group, a private equity group led by Fenway Sports, to become a minority investor in PGA Tour Enterprises.