PGA-Saudi Deal: Navigating Crucial Details for Success
Transcript
00:00 Sports Press, Rick Harrow inside the $1.3 trillion business of sports with your daily numbers game.
00:07 Well, the PGA Tour, some say, are coming up close to a December 31 deadline with the Saudi Investment Fund to see who an equity partner would be.
00:16 But since Tiger Woods joined the board and six players on it in August, there have been some issues relative to, wait, not so fast, exploring other opportunities.
00:27 There are anywhere from two to six equity suitors that are waiting to step in if the Saudi deal doesn't happen.
00:35 And in an announcement that is very clear with its signal, the agreement is, quote, "to work together to reach unanimous consensus," I'm reading the release,
00:43 "before voting on any proposal that will either create a for-profit entity or contemplate third-party investment," quote, unquote.
00:52 No major decision can be made in the future without the prior involvement and approval of the player directors.
00:58 Pretty clear, huh?