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...The commercial entity and its billionaire backers are distinct from PGA Tour Inc, the tax exempt organisation that administers golf events....
...The ATP Tour and the Saudi Public Investment Fund on Wednesday announced a “multiyear strategic partnership . . . enhancing global tennis and its long-term future”....
...It is now projected to rise to $500k for the Indian Grand Slam in November, $750k for Germany in 2025, and then to $1mn for when the tour becomes global....
...US-headquartered ATP Tour Inc’s revenues have recovered since falling to a low of $93mn in 2020, a season disrupted by the coronavirus pandemic....
...Enemies turned potential business partners as the PIF struck a preliminary agreement to invest in the tour....
...The country has already lured the ATP Next Gen Finals from Milan to Jeddah, and — as first revealed by the FT — the ATP has been discussing possible joint investments with the Saudi sovereign wealth fund...
...It diffused tensions after dozens of top golfers accepted huge pay deals to leave the PGA Tour and join LIV, a rebel tour backed by $2bn from the PIF....
...Klein acted as an adviser on the agreement between the PIF and the PGA Tour, which is designed to reunify golf and end a bitter legal dispute over the launch of LIV Golf....
...The PGA Tour and PIF shocked the sports world last June when they announced that they had put aside a bitter legal battle in order to explore unifying their respective professional golf tours....
...Do read on — Josh Noble, sports editor The PGA Tour beefs up its defences with US cash For more than two years, the PGA Tour has been hounded by a rebel golf league flush with Saudi cash....
...Among the complexities to be hammered out is the future of PGA Tour players who defected to LIV Golf and what their path back to the PGA Tour may be....
...For some decades, Hawaii has been a favourite playground for Japanese tourists, consistently in the top three most visited overseas destinations and the go-to spot for golf-tours, group getaways, marriage...
...Our ATP assumption starts at $90k and falls to $84k by 2025....
...He joined the PGA Tour policy board in August amid the game’s ongoing negotiations with Saudi Arabia’s Public Investment Fund....
...“We all realise that the PGA Tour and LIV are still going to be the pinnacle of the golf pyramid, that the Asian Tour and the DP World Tour fit underneath that,” he says, “but we’d still like to see some...
...Saudi-backed LIV Golf’s awkward détente with the PGA Tour just got more awkward....
...“I love to see Alcaraz playing against Novak,” said Andrea Gaudenzi, chair of the ATP Tour, the governing body for the men’s game....
...We are meeting online and the tour is of a virtual campus on a platform called Gather Town — a 2D world for meetings and collaboration, not dissimilar to The Sims, the life-simulation video game....
...Talks between the PGA Tour and Saudi Arabia’s Public Investment Fund are set to drag on well into next year, with a deal to unite golf still facing a number of big hurdles....
...Klein, a longtime PIF adviser who helped broker an agreement last year between the fund and the US PGA Golf Tour, said the Saudi court orders “expose me and my employees to not just civil liability, but...
...The oil-rich state’s sovereign wealth fund bullied the PGA Tour into peace talks after raiding the golf circuit for players, made headway with the men’s ATP tennis tour, convinced Tyson Fury and Oleksandr...
...Meanwhile, professional golf has been roiled by the proposed merger of the US-based PGA Tour and the Saudi Arabia-backed LIV Golf breakaway tour....
...Keith Pelley is stepping down as chief executive of the European Tour to head Maple Leaf Sports & Entertainment, owner of the National Hockey League’s Toronto Maple Leafs, while the chief of the Royal &...
...The Financial Times reported last month that the sovereign fund had also held talks with the men’s ATP tennis tour over potential events and investments....
...The ATP, which runs the men’s tennis tour, is the latest big global sports body to hold talks with Saudi Arabia over potential co-investments, its chief told the FT....
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