last week<\/a> that the PGA would merge with the 600 billion dollar sovereign wealth fund of Saudi Arabia-backed LIV Golf. The Saudi Public Investment Fund golf upstart league has faced much criticism since its inception due to the Saudi government\u2019s human rights violations and alleged complicity in the 9\/11 terrorist attacks. Despite the early criticism LIV Golf received, they managed to attract some of the PGA\u2019s top-tier talent; golfers such as Phil Mickelson, Brooks Koepka, and Bryson DeChambeau have ditched the PGA for the LIV Golf Tour for a hefty price tag. Phil Mickelson received 200 million dollars for signing with LIV Golf. With the PGA Tour\u2019s premier talent departure and lack of funds, it would become increasingly difficult for them to compete, so a merger seemed inevitable.\u00a0<\/p>\n\n\n\nIn announcing the PGA Tour’s merger with LIV Golf, PGA Tour Commissioner Jay Monahan acknowledged the PGA Tour could not contest financially with LIV Golf. The Wall Street Journal reported that Monahan told his employees, \u201cWe cannot compete with a foreign government with unlimited money, this was the time \u2026 We waited to be in the strongest possible position to get this deal in place\u201d<\/p>\n\n\n\n
Is The NBA Next?<\/h2>\n\n\n\n With the Saudi PIF taking control of golf and establishing its ties to soccer with the ownership of four Saudi Pro League teams and investments in Formula 1 racing, it begs the question of other professional sports leagues that would be viable investment opportunities for the Saudi PIF. Given its notable sports investments, some argue that the Saudi PIF is leveraging its sports involvement to distance itself from its reputation. On the other hand, NBA Commissioner Adam Silver has a different point of view on the merger. <\/p>\n\n\n\n
He expressed his stance by stating: <\/p>\n\n\n\n
\u201cBut \u2026 now talking specifically about the NBA, where we\u2019re such a global sport, I think people are a little too dismissive these days about the benefits that come from the commonality around sports. That with a sport like basketball \u2014 our finals are distributed virtually everywhere in the world, the sport is played everywhere in the world \u2014 it\u2019s an opportunity to bring people together.\u201d<\/p>\n\n\n\n\n