PGA Tour rejects $1.5 billion offer from Saudi Arabia’s Public Investment Fund, per reports

The PGA Tour has rejected a $1.5 billion investment offer from Saudi Arabia’s Public Investment Fund, the financial backer of LIV Golf, according to multiple reports. Though the sides have long remained in negotiations to consolidate operations, the PGA Tour would not agree to a PIF stipulation that LIV Golf remain active amid potential reunification. The PGA Tour wishes for one active circuit.
Should a deal materialize, PIF governor Yasir Al-Rumayyan would be welcomed as a co-chairman on the PGA Tour Enterprises board of directors; however, it has long been reported that another hiccup in negotiations has been the PIF’s insistence on team golf having some place in the professional ecosystem.