All articles tagged with #saudi pif
PGA Tour commissioner Brian Rolapp says there are no current plans to reintroduce LIV golfers through the Returning Member Program, which previously offered a 2026 path with eligibility tied to participation in 15 cosponsored events and a $5 million charity donation; Koepka was the only LIV defector to accept the offer, while LIV's broader future remains uncertain as talks with investors continue.
Electronic Arts is set to close its $55 billion go-private merger next week after obtaining all regulatory approvals, with completion targeted around the close of trading on August 4, 2026. The Redwood City, California–based publisher will stay headquartered there and remain led by CEO Andrew Wilson, in a deal backed by Saudi Arabia’s Public Investment Fund, Silver Lake, and Affinity Partners.
LIV Golf has postponed its June 25 stop in New Orleans amid a shifting business model and signals that Saudi Arabia’s Public Investment Fund could pull backing; Louisiana had planned roughly $7 million in state support for Bayou Oaks and hosting, with provisions to claw back $1.2 million and treat $2 million in course improvements as an asset. The parties aim to reimagine the event in the fall while LIV pursues new funding, including equity sales and partnerships, as its schedule becomes uncertain after August. LIV Golf Virginia at Trump National Golf Club is scheduled to begin May 7 in Washington, D.C., with no announced schedule beyond the team championship in August.
LIV Golf reportedly placed a security alert on The Athletic’s Brody Miller while he was covering its event in Mexico City, with a guard showing him a company chat containing his headshot and telling him to come with him. LIV executives denied knowledge of the alert when asked. The incident comes after Miller reported that LIV leadership might be ousted and funding could be pulled by the Saudi PIF, highlighting a tense, contested relationship between LIV Golf, reporters, and its backers.
Electronic Arts is set to be taken private in a $55 billion deal backed by Saudi Arabia’s Public Investment Fund, Silver Lake, and Jared Kushner’s Affinity Partners, with shareholders receiving $210 per share in cash; the deal is expected to close in early 2027, and CEO Andrew Wilson will remain in his position.
A group of investors, including Saudi Arabia's PIF, Silver Lake, and Affinity Partners, are in advanced talks to acquire EA in a $50 billion leveraged buyout, potentially the largest ever, with an announcement possible next week, causing EA's shares to surge.
Lucid reported significant losses in Q2, with ongoing manufacturing and supply chain issues, a need for substantial additional funding, and a challenging market environment, raising concerns about its future viability despite backing from Saudi PIF.
PGA Tour commissioner Jay Monahan met with Saudi PIF governor Yasir Al-Rumayyan and player directors, including Tiger Woods, to discuss the PIF's potential investment in the Tour, but the update provided was vague and underwhelming, with Monahan stating that the meeting was "constructive" but offering no further details. The ongoing negotiations and lack of transparency have raised doubts about Monahan's leadership, and it seems that more meetings will be needed to make progress in resolving the conflict.
Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), and French private equity firm Ardian are set to acquire a 25% stake in Heathrow airport for £2.4bn. The deal will make PIF the third-largest investor in the airport, while Ardian will become the fourth-largest. The acquisition comes as the airport faces financial challenges due to the COVID-19 pandemic and aims to strengthen its position for future growth.