Are you ready for the PIF Classic at PGA National Resort?
Considering what has gone down in the last month when it comes to golf, nothing can be ruled out.
Besides, if Saudi Arabia’s Public Investment Fund becomes a title sponsor for the PGA Tour tournament formerly known as the Honda Classic, it wouldn’t be the most shocking development this year on the professional golf front.
That distinction goes to the events that led us to this possibility in the first place: The agreement announced three weeks ago between the PGA Tour, DP World Tour and PIF, the money behind LIV Golf.
The framework of the groundbreaking agreement between PGA Tour commissioner Jay Monahan and Yasir Al-Rumayyan, the governor of the Kingdom’s sovereign wealth fund, was first reported Monday by The Athletic.
What was known already was Al-Rumayyan will join the board of the PGA Tour and chair the new joint venture formed to grow and promote the game of golf globally, an investment for which the PIF is willing to pay a reported $2 billion.
A minor expense for a sovereign wealth fund with estimated assets of $650 billion.
Adrian Meronk plays his shot on the 16th hole during the third round of the Honda Classic golf tournament. (Photo: Sam Navarro-USA TODAY Sports)
What we learned this week is the PIF will be “a premier corporate sponsor” of the PGA Tour, DP World Tour and other international tours (now we know what $2 billion buys), and a title sponsor of at least one event. Those tours will work together to identify a high-profile event for the PIF to make that financial investment as title sponsor.
And it just so happens the tournament formerly known as the Honda Classic is looking for a new title sponsor after American Honda ended its 42-year partnership following this year’s tournament. Talks have been slow when it comes to a new title sponsor, which was expected with the Tour more involved in reworking the schedule and negotiations with the PIF that would reshape the game on a global level.
Although officials from the Tour and locally are confident a quality title sponsor will be identified before the 2024 tournament … an opening still remains for the PIF to expand its golf enterprise.
And although logic says the PIF will pump money into an event on the DP World Tour, if it does happen in the U.S. — and that remains a big ‘if’ — Florida is as good a place as any to further the objective of distracting from Saudi Arabia’s atrocious human rights…
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