SHOPPING SPREE! The Kingdom of Saudi Arabia has been engaging in more retail therapy. This time around the decided to buy a major American sporting league, the PGA. The Kingdom invested $2 billion in Jared Kushner, former presidential advisor and architect of one of the single worst deals in the history of real estate investing and now they’re going long on professional golf. Smart money!
The Saudi Public Investment Fund, or PIF, has entered into an agreement to partner, and pump cash into, the PGA Tour. This is after their bankrolling of upstart LIV golf failed to do much besides general attorney’s fees.
The PGA was embroiled in a heap of legal battles with the seldom-watched LIV Golf and according to hypocrite/tour commissioner, Jay Monahan decided to go into business with the Saudis to avoid being bled dry over the next decade by a competitor with unlimited resources.
The players who turned down ridiculous money from LIV to stick with the PGA got screwed, Monahan looks like a heel, the PGA takes a significant repetitional hit, LIV golf will wither on the vine or be put out of its misery all together and the Saudis get a professional golf league to sportswash their image. It’s not difficult to see who won this deal.
Bookmark NJ.com/Opinion. Follow us on Twitter @NJ_Opinion and on Facebook at NJ.com Opinion. Get the latest news updates right in your inbox. Subscribe to NJ.com’s newsletters.