PGA Rejects $1.5 Billion Investment From Saudis, ESPN Says (1)

The PGA Tour has declined a $1.5 billion investment from Saudi Arabia’s Public Investment Fund, according to ESPN.

The offer stipulated that LIV Golf, a Saudi-backed rival to the PGA Tour started in 2022, would remain intact, ESPN reported from unnamed sources.

The PGA didn’t immediately respond to a request for comment. PIF couldn’t be reached.

The PGA Tour and LIV agreed to the framework for a merger in 2023, but that deal stalled. Donald Trump’s return to the White House boosted optimism that a transaction would soon happen, but there appear to be too many roadblocks.

Trump ...