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What is PIF? The Saudi investment fund
behind PGA Tour and LIV Golf’s merger

Original Article

Posted By: Dreadnought, 6/7/2023 8:30:59 AM

The PGA Tour’s shock merger with Saudi-backed rival LIV Golf boasts a singular investor in the yet-to-be-named entity — PIF, the Public Investment Fund of Saudi Arabia, one of the world’s largest sovereign wealth funds. The fund, established in 1971, is headed by Saudi’s Crown Prince and de facto ruler Mohammed bin Salman, who was accused of ordering the killing of journalist Jamal Khashoggi. Under the prince’s chairmanship, PIF has more than $600 billion in assets and has invested around the globe in companies that include Uber, Blackstone and Japan’s Softbank. It has also spent heavily on sports franchises, including the $409 million purchase of English Premier League

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Reply 1 - Posted by: NorthernDog 6/7/2023 9:10:19 AM (No. 1486633)
The Saudis have billions of more dollars to throw around. And with Biden in the White House - they get richer every day. Expect more 'investment' all around the world from Mohammed bin Salman.
7 people like this.

Reply 2 - Posted by: plomke 6/7/2023 9:15:21 AM (No. 1486637)
Bankrolling more than just golf. Think about madrsassas. A mosque on every corner. ESG. The house of Saud has never been a friend of the west,in spite of what the Bush clan and Rumsfeld would tell you...
6 people like this.

Reply 3 - Posted by: Mizz Fixxit 6/7/2023 9:20:35 AM (No. 1486640)
FTA —— The PGA Tour’s shock merger with Saudi-backed rival LIV Golf boasts a singular investor in the yet-to-be-named entity — PIF, the Public Investment Fund of Saudi Arabia, one of the world’s largest sovereign wealth funds. Also FTA —- . . . PIF’s governor Yasir Al-Rumayyan — who will be chairman of the new LIV-PGA entity, according to a press release Tuesday. The DP World Tour (European Tour) is also part of the merger. The DP World Tour is headquartered in Dubai. In my opinion, the Saudis completed a hostile takeover of the PGA Tour. As stated in article, the merged entity is “yet to be named.” Regardless of what the entity is named, I’m going to call it the Arab Tour.
5 people like this.

Reply 4 - Posted by: cor-vet 6/7/2023 9:33:24 AM (No. 1486658)
Since sports, of any kind, is to me a non-productive industry that I have no interest in, I say, who cares?
7 people like this.

Reply 5 - Posted by: CivilServant 6/7/2023 9:56:52 AM (No. 1486676)
To answer the question, PIF is a big ol’ pot of YOUR money collected by our enemies because the Democrats hate Americans, love to see dead and impoverished Americans and will make sure you suffer rather than drill here.
6 people like this.

Reply 6 - Posted by: Italiano 6/7/2023 9:59:07 AM (No. 1486678)
The respective groups have allocated control of the 18 holes on each affected golf course: the PGA controls holes 1-8. LIV controls 12-18. The Saudis get 9-11.
9 people like this.

Reply 7 - Posted by: SweetPea3 6/7/2023 10:38:01 AM (No. 1486714)
With the exception of The Masters, I stopped watching golf when the PGA pulled their tournaments from Trump owned courses. They chose to get political, so they can kiss my happy backside. Likewise with NOOSECAR, NFL, NCAA with asinine slogans on uniforms. I want to be entertained. I don't want your political opinions shoved in my face
14 people like this.

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