PGA Tour board member Webb Simpson gives hot take on the PIF deal - “We’re not sure yet”
The PGA Tour announced a multi-billion-dollar investment deal with Strategic Sports Group (SSG) last month. The deal was weeks after the circuit announced a deadline extension for its controversial framework agreement with the Saudi Public Investment Fund (PIF). Adding to the ambiguity regarding the deal’s future, PGA Tour board member Webb Simpson has now come out to state he isn’t sure where it is headed.
Simpson noted that he’d “love to work out a deal with the PIF” and let the Saudi organization come in as an investor. He said that the PIF could take over multiple events like the FedEx Cup in the current schedule.
However, the 38-year-old claimed that he has “no idea” about the future direction. The 2012 US Open winner noted that he and the circuit officials are “not sure yet” about PIF and its Governor Yasir Al-Rumayyan’s end goal with the deal.
Replying to a query on whether the PGA Tour-PIF deal is moving forward, Webb Simpson said in a Q&A with Golfweek:
“I’d love to work out a deal with the PIF and let them come in as an investor and I don’t know what that looks like, maybe it’s FedEx Cup from January through August and then we have some fun in the fall, whether that’s what we currently have plus a few team events. I have no idea. That’s something that we talked about, we’ve got to get going on, really diving in and seeing what could work."
Speaking about his understanding of what Yasir Al-Rumayyan and the Saudis are seeking from the deal, Simpson added:
“We’re not sure yet. I do think Yasir loves the idea of team golf or the idea of franchises. And, you know, that’s something any good company is going to listen to its investors or potential investors and see why they want what they want. And so that’s something that we need to do. We as players, should probably have a conversation with Yasir and figure out what it is he wants. That conversation should be sooner rather than later.”
PGA Tour-PIF negotiation details are yet to be disclosed
Simpson admitted that several players are still in the dark about the PGA Tour-PIF deal. He revealed that many players on the Tour texted and called him to enquire about the negotiation status. He reiterated that the players are actively invested in the developments.
He added:
“I have other players on Tour texting me, calling me, seeing me at tournaments and saying, ‘Hey, where are we at with a PIF deal? Where are we at in growing our equity as equity owners in the PGA Tour?’
"We’re not going to be able to get around the fact that this equity, though it’s great and an amazing opportunity for us players, that equity is worth more, in my opinion, if golf has more stability in terms of where all the great players are playing, meaning we all need to be playing together not against each other on two different tours like this.”
It is pertinent to note that the PGA Tour signed a $3,000,000,000 investment deal with SSG in late January.
While the deal was taken positively by the officials and most fans, several others, including players, seemed unhappy. Notably, many stakeholders seem interested in the PIF deal.