{"id":82887,"date":"2024-01-30T00:00:00","date_gmt":"2024-01-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/30\/usd-3-bn-injection-by-sports-bnaires-could-give-pga-tour-a-hedge-against-collapse-of-liv-deal\/"},"modified":"2024-01-30T00:00:00","modified_gmt":"2024-01-30T00:00:00","slug":"usd-3-bn-injection-by-sports-bnaires-could-give-pga-tour-a-hedge-against-collapse-of-liv-deal","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/01\/30\/usd-3-bn-injection-by-sports-bnaires-could-give-pga-tour-a-hedge-against-collapse-of-liv-deal\/","title":{"rendered":"USD 3 bn injection by sports bn\u2019aires could give PGA Tour a hedge against collapse of Liv deal"},"content":{"rendered":"

Good morning, wonderful people. <\/strong>It\u2019s another reasonably quiet news day in the Kingdom, though we expect the two-day lull to come to an end after the weekly cabinet meeting and as at least a couple of significant transactions brewing on Planet Finance wrap up in the coming week or so. <\/p>\n

It\u2019s not just a Saudi thing: <\/strong>Newsflow is quiet globally, too, as market watchers keep an eye on Chinese shares and everybody waits for the results tomorrow of the two-day meeting of the US Federal Reserve\u2019s open market committee. Economists forecast<\/a> that the Fed will leave rates at their current 22-year high of 5.25-5.5%.<\/p>\n

Business leaders and economists alike are looking to the release at 4pm KSA of the IMF\u2019s <\/strong>World Economic Outlook<\/a><\/strong>. <\/p>\n

Against that backdrop, we kick off this morning\u2019s issue with a pile of sports news<\/strong> \u2014 though we\u2019re not sure anybody here cares anywhere near as much about the PGA-Liv lashup as do the Americans\u2026<\/p>\n

WATCH THIS SPACE #1- There are signs that the PGA Tour is hedging against the <\/strong>potential collapse of its tie-up with PIF-backed Liv Golf <\/strong>and the European Tour.The twist in the plot, which has captured the imagination of golf fans on both sides of the Atlantic, comes after a group of US sports bn\u2019aires operating as Strategic Sports Group appear on the verge of buying a minority stake in PGA in a USD 3 bn transaction, Bloomberg<\/a> and the Wall Street Journal<\/a> report. <\/p>\n

\u201cNews of a major US infusion of cash seem to further dim the prospects\u201d <\/strong>of PGA agreeing to merger terms with Liv, suggesting the \u201crift\u201d that has \u201cdivided\u201d the sport will continue, the Journal writes. <\/p>\n

WATCH THIS SPACE #2- Fellow tennis fans, rejoice: We\u2019re still in the running to host the <\/strong>women\u2019s finals. <\/strong>The WTA finals could still move to Saudi Arabia. Word of the possible relocation here percolated to the surface last month before petering out. A handful of activists in the industry are pushing back against a move to Saudi, but others including world #2 Aryna Sabalenka are pushing for the move. Sabalenka had an \u201camazing experience\u201d playing in Riyadh late last year, she told Reuters<\/a>. <\/p>\n

Saudi is already emerging as a tennis powerhouse <\/strong>with a five-year agreement to host the men\u2019s NextGen finals (think of it as the development league for the men\u2019s ATP tour) and with the recent naming of Radel Nadal<\/a> as an ambassador for the Saudi Tennis Federation. <\/p>\n

SPORTS-<\/p>\n

<\/p>\n

<\/a> #1- Al Hilal beat Inter Miami 4-3 in a seven-goal thriller yesterday in the Riyadh Season <\/strong>Cup <\/strong>at the Kingdom Arena Stadium after Malcom\u2019s header in minute 88 stopped a comeback by Lionel Messi\u2019s men, who had brought the game back from a two-goal deficit after being 3-1 down. <\/p>\n

All eyes on Thursday:<\/strong> Football GOATs and rivals Messi and Cristiano Ronaldo will share the same pitch on Thursday when Inter Miami meets Al Nassr.<\/p>\n

<\/a> #2- The Green Falcons will face South Korea today in an Asian Cup Round of 16 <\/strong>knockout <\/strong>match at 6pm KSA. Host country and defending champ Qatar advanced to the quarterfinals yesterday after beating Palestine 2-1, joining Jordan, which stunned Iraq after it scored twice in stoppage time to win 3-2. <\/p>\n

No fear, only respect to the Green Falcons, says South Korea\u2019s coach:<\/strong>Juergen Klinsmann said he does not fear the Saudi national team, but has a lot of respect for Roberto Mancini\u2019s side. \u201cI don't fear anybody. No fear, but a lot of respect for every opponent,\u201d he told reporters in the pre-match press conference yesterday (watch, runtime: 27:08)<\/a>. Korea has failed to beat the Falcons in their three previous encounters.<\/strong><\/p>\n

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HAPPENING TODAY-<\/p>\n

<\/a> Kuwait\u2019s new emir, Sheikh Meshal Al Ahmad Al Sabah, will land in town today <\/strong>for a state visit, Kuwait News Agency KUNA<\/a> reported yesterday. It\u2019s Sheikh Meshal\u2019s first trip abroad since he was named emir last month.The new emir is looking to preserve key foreign relationships<\/a>, including good ties with Riyadh. <\/p>\n

WEATHER<\/strong>- Expect a mostly cloudy day <\/strong>in Riyadh, Jeddah, and Dammam.<\/p>\n