Sports
Saudi PIF Nears Deal to Invest in PGA Tour Enterprises
- Sovereign wealth fund is in advanced talks for roughly 6%
- PIF investment could value unit at about $12 billion
PIF’s investment could value PGA Tour Enterprises at about $12 billion.
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Saudi Arabia’s Public Investment Fund is nearing a deal to acquire a minority stake in PGA Tour Enterprises, according to people with knowledge of the matter.
The sovereign wealth fund is in advanced talks about taking a roughly 6% stake in the PGA Tour’s commercial arm, said the people, who asked not to be identified because the information is private. An agreement, if reached, would come after months of negotiations, and follow a deal inked earlier this year with Strategic Sports Group, which can invest as much as $3 billion in PGA Tour Enterprises.