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If it’s Sunday, we must have an avalanche of sports news, and this morning is no exception. Among the stories making headlines over the weekend:
#1- PGA Tour raises big funds, leaving agreement with PIF hanging: The PGA Tour sealed a USD 3 bn investment for a new for-profit company from a group of US sports bn’aires operating as Strategic Sports Group (SSG), it said in a statement last week. The transaction forming the PGA Tour Enterprises “allows for a co-investment from the PIF in the future, subject to all necessary regulatory approvals,” the statement read.
Still working both ways: The PGA Tour “confirmed progress” in ongoing talks with the PIF on a potential investment in the future, the statement said, without providing further details. It said that the SSG “has consented to an investment by PIF” subject to regulatory review and approvals.
The catch: There’s speculation in the US and UK press that with the USD 3 bn windfall, PGA could walk away from its proposed merger with PIF-backed Liv Golf and the European Tour — and be in a better position to fight-off competition in the medium-term.
REMEMBER- The PIF and PGA Tour agreed to extend talks into 2024 after failing to agree on terms before a 31 December deadline.
#2- The PIF could be making its first venture into global cycling: PIF unit SRJ Sports Investments is in exclusive talks for a potential investment of USD 270 mn in a new cycling league venture led by several leading European cycling teams, Reuters reported last week.
The background: PIF has reportedly edged out private equity firm CVC in the running to invest and a transaction could wrap up in as little as two months’ time.
The venture is being led by a handful of European cycling teams, including Holland’s Visma-Lease a Bike and British bn’aire Jim Ratcliffe’s Ineos Grenadiers.
Speaking of Ineos Grenadiers: We can’t be the only ones who are drooling over Ratcliffe’s Ineos Grenadier 4×4, can we?
#3- Tunsian tennis star Ons Jabeur is “personally looking forward” to contesting the 2024 WTA tennis finals in Saudi Arabia, pushing back on criticism of the Kingdom’s bid by one-time tennis greats Chris Evert and Martina Navratilova. AFP reported her remarks late yesterday.
“Princess Reema’s answer was unbelievable,” Jabeur said in Dubai. “I think classy, elegant, and every player was impressed with the way she addressed Martina’s and Chris’ letter,” the newswire quoted her as saying.
Jabeur is no stranger to Saudi, having played an exhibition march in Riyadh against Aryna Sabalenka last month. Sabalenka has also said she looks forward to competing in the WTA finals in Saudi.
AND-
- The much anticipated heavyweight championship fight between Tyson Fury and Oleksandr Usyk in Riyadh has been rescheduled to 18 May, Queensbury Promotions announced said yesterday on X.
- Dania Akeel and Maha Alhamali will compete in theHail Toyota International Rally,with the two Saudi female drivers hoping to secure wins in the FIA World Rally Championship event taking place 8-10 February.
- Ronaldo-less Al Nassr thrashed Inter Miami 6-0 over the weekend as an injured Cristiano Ronaldo cheered on his teammates from the stand.
- Simon Yates won the AlUla Tour for Team Jayco AlUla while Team Soudal Quick Step’s William Lecerf came in second.
