(Hoylake) Le Royal
Saudi Arabia’s Public Investment Fund (PIF) is already the main funder of the LIV Tour, which offers a prize pool of 25 million for each of its tournaments. The PGA Tour and the European Tour reached a tentative agreement with the PIF last month for a possible commercial merger.
According to a PGA Tour executive who participated in a US Senate hearing last week, the PIF is expected to pay more than $1 billion under the deal.
“We have many major corporate partners that allow us to hold this event,” Slumbers said Wednesday. The world has changed since last year. Not just in golf. You see it in soccer. You see it in Formula 1. You see it in cricket. And I am certain that tennis will not be outdone. »
“The world of sport has changed drastically over the past 12 months, and it is not an option for R
Slumbers added Wednesday that golf’s oldest tournament is not interested in a new sponsorship deal that would change the name of the tournament – it will remain “British Open.”
His main concern, however, remains the total prize pool.
It was 7.8 million in Muirfield in 2013. A year ago it hit 14 million. This year, the champion alone will pocket 3 million.
The Daily Telegraph has reported that Yasir Al-Rumayyan, the PIF manager who brokered the deal with the PGA, is set to attend the British Open as a guest of a corporate partner of the event. Al-Rumayyan is a golf enthusiast.
Among the documents that were filed in the US Senate ahead of last week’s hearing on a possible merger between the PGA and the LIV Tour was the Saudis’ “wish list”. It included the proposal that Al-Rumayyan become a member of the R Golf Club