‘Not Even Worth Talking’: Jordan Spieth Sheds Dreadful PIF Merger Update Amid $3B SSG Entry
Bad news for the merger? The PGA Tour entered into a deal with the Strategic Sports Group, not too long ago, in a surprising move in the golf community. However, this agreement seems to spell disheartening news for the Public Investment Fund as even Jordan Spieth went ahead to mention how the men’s circuit doesn’t need a deal at the moment.
In a press conference ahead of the upcoming PGA Tour signature event, The AT&T Pebble Beach Pro-Am, Spieth said, “I think the short answer is we don’t have to,” while alluding to the deal with the PIF. Adding on, however, he went ahead to continue how there is another side to it as he said, “The long answer is, the positive there is unification.” But even so, the athlete continued to say how he’s “not sure if or how or when it would get done.”
Does the $3 billion SSG-PGA Tour deal spell bad for PIF?
The agreement that the Fenway Sports’ led group has entered into with the Jay Monahan-led circuit is marked at a $3 billion investment with a $12 billion valuation. Moreover, $900 million will be distributed to 180 golfers depending on their ranks, a move made to supposedly counter the high benefits given to professionals in the Saudi-backed league.
Interestingly, during the presser, Spieth also revealed his thoughts on the matter. “I just think it’s something that is almost not even worth talking about right this second,” said the 3X major champ owing to “how timely everything would be to try to get it figured out.” Continuing with his response, he divulged how the PGAT has a “strategic partner” that would allow it to go forward and work just the way it has been operating without any changes.
