Tiger Woods has been speaking to the media ahead of the Genesis Open teeing off tomorrow and answered some questions around SSG and PIF.
The PGA Tour has recently signed a huge £3bn investment deal with SSG. They are effectively a group of sports investors who have come together to put some money into the tour with the aim of making it a profitable business over time.
Of course, the money going into golf right now is huge. The LIV Tour, funded by the PIF of Saudi Arabia, has changed the game and forced the PGA to act.
And answering questions on those investments and potential PIF involvement, Tiger Woods spoke clearly about what the future might hold.
Tiger Woods speaks on SSG and PIF investments in the PGA Tour
Speaking in his official press conference ahead of the Genesis, Woods was asked first about the SSG deal and then secondly if that meant PIF discussions had gone away.
“The consortium that they have, the partners they have in SSG that have come together to be part of this group is quite remarkable really for the sports industry. They’re unbelievable leaders and at the time we need great leadership going forward I think this elicits that. It has amazing brains and ideas that can make this tour better and we’re looking forward to that,” Woods said.
“The PIF deal is ongoing. SSG we have solidified our agreement with them and with PIF, we’re still negotiating. Ultimately we would like PIF be part of our tour and be a part of our product. But financially we don’t [need] them now. With SSG and the amounts of money they have and what we initially have agreed to in the framework agreement, they’re all the same numbers. So anything we do beyond this is going to be over and above, we’re in a great position right now.”
Woods the leading voice for the PGA now
It feels like Woods has gone full circle in his career really. From the young star nobody could get near on the course, to then being a legend of the game and playing sporadically, to now being a leading voice on the actual board for the PGA Tour.
Woods certainly spoke well on the issues mentioned here and it looks like the investment into the game isn’t going to be slowing down any time soon.
It will certainly be interesting to see if PIF put some money into things going forward. Quite what will be in it for them remains to be seen.
But there is no question the LIV deal has thrown golf into a new world and as Woods says here, having these sorts of partners onboard should, in theory, benefit the game.
Woods will tee it up at The Riviera Country Club tomorrow having never won there in all his years playing the tournament. Woods will also have a new caddie on the bag as he tries to hit some sort of form before The Masters in August.
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