 governor Yasir Al-Rumayyan and his ally Amanda Staveley were in attendance at last week's Open Championship at Hoylake, as the heavy Saudi involvement in the world of golf continues. Having been invited by one of the event's leading sponsors, HSBC, Al-Rumayyan and fellow Newcastle United owner Staveley held 'secret talks' with R&A CEO Martin Slumbers, according to The Telegraph. PIF has become a dominant force in the sport, having bankrolled the controversial LIV Golf setup last summer. The breakaway league attracted a whole host of big names and announced itself as a rival to the PGA Tour at the top of the golfing pyramid. One year on, the Saudi fund made its biggest stride yet in golf, after reaching a shock agreement with the PGA Tour and its commissioner Jay Monahan last month. The deal appears to have brought to an end a year-long feud, with the Tour set to work in unison with its now former rival LIV. Al-Rumayyan proved to be the key behind the framework agreement, after aligning with Commissioner Monahan. And on the back of the Saudi governor's ever-growing presence within the sport, it will not have been a surprise to many to see him head to Hoylake last week. Amid the new-found alliance with the PGA Tour, Slumbers was questioned this week on whether the R&A would accept funding from PIF for The Open. And whilst he was quick to reiterate that their would be no chance of any sponsorship naming rights, he refused to rule out Saudi backing for the event in the future. "If I'm very open, we are and do and continue to do, talk to various potential sponsors," he said. "I was interpreting the question about sponsors as a presenting sponsor. We're not changing from The Open. That's what I meant. We have a number of large corporate partners that help us make this){kind=link}
The Public Investment Fund of Saudi Arabia have become a dominant force in the world of professional golf, and made an appearance at last week’s Open Championship
Public Investment Fund of Saudi Arabia (PIF) governor Yasir Al-Rumayyan and his ally Amanda Staveley were in attendance at last week’s Open Championship at Hoylake, as the heavy Saudi involvement in the world of golf continues.
Having been invited by one of the event’s leading sponsors, HSBC, Al-Rumayyan and fellow Newcastle United owner Staveley held ‘secret talks’ with R&A CEO Martin Slumbers, according to The Telegraph. PIF has become a dominant force in the sport, having bankrolled the controversial LIV Golf setup last summer.
The breakaway league attracted a whole host of big names and announced itself as a rival to the PGA Tour at the top of the golfing pyramid.
One year on, the Saudi fund made its biggest stride yet in golf, after reaching a shock agreement with the PGA Tour and its commissioner Jay Monahan last month. The deal appears to have brought to an end a year-long feud, with the Tour set to work in unison with its now former rival LIV.