John Henry, the proprietor of Liverpool, has recently embarked on a visit to Saudi Arabia for an encounter with Yasir Al-Rumayyan, the chairman of Newcastle, to deliberate on the evolving dynamics of the golf industry. Henry’s group, FSG, is diversifying its sports investments and has infused capital into the PGA Tour through the Strategic Sports Group consortium.
The advent of LIV Golf, underpinned by Saudi support and successful in luring marquee players, has catalyzed discussions regarding the PGA Tour’s continuity. Jay Monahan, the PGA Tour commissioner, has acknowledged ‘meaningful progress’ in talks, despite an earlier deadline for a merger with LIV Golf passing unmet.
January witnessed a substantial $3 billion investment from SSG post Monahan’s visit to Al-Rumayyan, who oversees the Saudi Public Investment Fund and has guided Newcastle since its recent change in ownership. According to reports, Monahan’s journey was part of a delegation that included Henry and Sam Kennedy, the chief of the Boston Red Sox—another gem in the FSG collection.
At 74, Henry’s negotiation prowess has been highlighted, specifically his capacity to engage in dialogue without ego interference. Prior to the in-person assembly, a telephonic conversation between Monahan and Al-Rumayyan had taken place, following an unmaterialized face-to-face meeting.
Keith Pelley, the soon-to-depart CEO of the DP World Tour, anticipates a resolution in the near future. ‘I’ll be here for three more months, and by then, we aim to conclude. I’ve informed both PGA Tour and PIF representatives that this is my main objective,’ Pelley stated, expressing optimism for a forthcoming agreement.
LIV Golf, initiated in 2021 with its inaugural events in 2022, has captivated several high-profile ex-PGA Tour players like Masters champion Jon Rahm, who has hinted at a potential return to PGA Tour competitions.
Rahm voiced his sentiments ahead of a LIV Golf event in Las Vegas, expressing his eagerness to participate in select tournaments that hold personal significance. Missing these events proved difficult for him, and he remains open to future invitations.
FSG’s ambition to broaden its sports portfolio is evident, with golf now a focal point. The rise of LIV Golf has undoubtedly escalated the stakes in the golfing sector. While Henry and Al-Rumayyan might have exchanged thoughts on their football squads, it’s improbable that their meeting revolved around player transfers.