Spieth Throws Cold Water on PIF Deal: “Not Needed” After $3 Billion PGA Tour Boost
Spieth Douses Saudi Cash: $3 Billion Tour Boost Makes PIF Deal “Unnecessary”
Golf superstar Jordan Spieth has poured cold water on a potential deal with Saudi Arabia’s Public Investment Fund (PIF), stating it’s “not needed” after the PGA Tour secured a massive $3 billion investment from Strategic Sports Group (SSG). This comes just days after news emerged of a “framework agreement” being explored between the Tour and PIF, sparking controversy over potential ties to the Saudi regime.
Spieth, a Player Director on the Tour, voiced his opinion alongside fellow golfers praising the SSG deal, emphasizing his belief that the Tour is now financially strong enough. “I don’t think it’s needed,” he declared, suggesting the PIF deal wouldn’t be necessary “at this point” if its terms don’t surpass the SSG agreement. This marks a shift from some Tour players who previously saw the PIF as a potential solution to combat the rival LIV Golf series, backed by the same Fund.
Spieth’s statement reflects a growing sentiment among Tour members who prioritize the Tour’s independence and are wary of associations with Saudi Arabia’s human rights record. However, the possibility of a future PIF deal remains open, with Spieth acknowledging it could be reconsidered if terms change and members approve.
With the SSG deal securing lucrative new opportunities and player equity shares, the Tour appears focused on strengthening its existing foundation. This development throws a curveball at the potential PIF partnership, leaving its future in the rough for now.
