Why PGA Tour’s Nonprofit Status Matters for LIV Deal: QuickTake

Among the burning questions about professional golf’s shock merger is how the century-old PGA Tour, which is technically a nonprofit, will run once funded by one of the world’s biggest sovereign wealth funds. PGA Tour says it plans to keep its nonprofit status despite a potential infusion of cash from Saudi Arabia’s Public Investment Fund, backer of its merger partner, LIV Golf. If the deal goes through, the partnership would set the future course of a global game. But exactly how the unusual arrangement would work depends on the exact terms, which are still murky, and whether it passes ...