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Framework agreement negotiations between the PGA Tour and Saudi Arabia's Public Investment Fund (PIF) could be coming to a conclusion. Golfweek reported on March 15 that senior representatives of the American circuit plan to meet with Yasir Al-Rumayyan, Governor of the PIF, in the coming days.
According to the report, the meeting would be attended by the player directors, who are also part of the PGA Tour Enterprises Board. Golfweek cited six sources, although it did not identify any of them.
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The meeting might place as soon as next Monday at Ponte Vedra Beach, home of the TPC Sawgrass where The Players Championship is currently being played. Six of the Tour's player directors are taking part in the event: Patrick Cantlay, Jordan Spieth, Adam Scott, Peter Malnati and Webb Simpson.
The only person missing is Tiger Woods. Also, Joe Ogilvie, the newly appointed Liaison Director, is not present either. However, according to the source, Ogilvie is expected to arrive at Ponte Vedra Beach in the next few hours.
This meeting has not yet been confirmed officially and there are no details that Yasir Al-Rumayyan has committed to attending it.
Framework agreement between PGA Tour and PIF: Latest news
Tour Commissioner Jay Monahan, who was also announced as CEO of PGA Tour Enterprises, stated in his press conference before The Players Championship that he had recently met with Yasir Al-Rumayyan to progress negotiations regarding the framework agreement.
In late January, the PGA Tour expanded its partner network by striking a deal with the Strategic Sports Group (SSG), which will reportedly invest $1.5 billion into the circuit. There's optimism that reaching an agreement with the Public Investment Fund (PIF) could help resolve the dispute with LIV Golf, a matter that has caused division within men's professional golf.
The framework agreement had an initial deadline of December 31, but it was extended due to the lack of a definitive agreement. It was mentioned at the time that the aim was to finalize the negotiations before The Masters in April.
