With no PGA Tour deal in sight, are the PIF targeting the LPGA?

Mark McGowan
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World Number One Nelly Korda in action at the Aramco Team Series (Pic: Tristan Jones/LET)

Mark McGowan

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We are now well past the three-year mark since the shocking announcement of the Framework Agreement that supposedly set LIV Golf on a path to reconciliation with the PGA and DP World Tours.

The Framework Agreement, announced in June 2023, was a proposed merger between the PGA Tour, DP World Tour, and LIV Golf’s backer, Saudi Arabia’s Public Investment Fund, intended to unify professional golf but has since stalled due to unresolved conflicts, and, as we are all well aware, no reconciliation has materialised.

In fact, as the new PGA Tour CEO, Brian Rolapp, told the PGA Tour membership in his initial meeting with the players, both sides remain entrenched on opposite sides of the fence, and ongoing disputes over LIV players’ suspensions, antitrust concerns, and differing visions for golf’s global structure have deepened the divide, with negotiations hampered by legal challenges and competing financial interests.

LIV, of course, has a new organisational figurehead as well. Scott O’Neil may not carry the long history of antagonism that Greg Norman had with the PGA Tour—in fact, he and Rolapp were classmates at Harvard Business School—but he is employed by LIV to serve their best interests, as is Rolapp by the PGA Tour. Their prior relationship will only prove useful if it is deemed in the best interests of both parties to return to the negotiating table. And that is a big if!

Frustrated by the lack of progress with the PGA Tour, LIV Golf is now exploring new avenues to expand its influence, with the women’s game emerging as a prime opportunity, and O’Neil telling Rick Shiels in a recent interview that they are likely “two to three years” from entering.

Saudi Arabia’s Public Investment Fund (PIF) has been involved in women’s golf for some time. The Aramco Team Series and Saudi Ladies International were introduced to the Ladies European Tour (LET) in 2020, and marquee LPGA names such as Nelly Korda, Atthaya Thitikul, Charley Hull, Lexi Thompson, Ruoning Yin, Leona Maguire, and Lilia Vu have all competed in multiple events.

Given the significant prize money disparities, many LPGA stars might consider a full-time switch to a LIV women’s tour for financial security.

Outside of the major championships – of which there are five in the women’s game – the prize money offered on the LPGA is a fraction of that on the PGA Tour. What is offered weekly on the LET is smaller still. In fact, the €11 million total prize money across the Aramco Team Series events accounts for almost a third of the total annual prize money on the LET.

Additionally, top female golfers often face shorter careers due to factors like family responsibilities, sponsorship pressures, and physical demands, making lucrative opportunities like a potential LIV women’s tour particularly appealing.

Had the PGA Tour welcomed the PIF’s advances in the early stages, it is unlikely that LIV would even exist, let alone as a standalone entity whose players are suspended from PGA Tour events. The LPGA Tour would have the benefit of hindsight should an official approach be made. They are also in a much weaker position than the PGA Tour was, and without the same resources to mount a defence, it is highly unlikely they would adopt the approach taken by Jay Monahan and the PGA Tour, who preached “legacy, not leverage” and referenced 9/11 when taking their stand.

The LPGA Tour also has a new leader at the helm, and Commissioner Craig Kessler has already stated that “anyone willing to have a conversation will be welcome.” This is a wise move, as they cannot afford to have a competitor with deep pockets enter the battlefield. If such a competitor is intent on entering regardless, it would be preferable to have them as an ally.

The human rights issues in Saudi Arabia – and considering women face restrictions such as requiring male guardian approval for marriage and limited legal protections against domestic violence, women’s rights in particular – raise ethical dilemmas for players considering PIF-backed events. This mean that players who choose to join a breakaway tour similar to the current LIV Golf setup will likely face public backlash, but that didn’t stop the aforementioned cohort from travelling to Saudi Arabia to play or to compete in the Saudi-backed Aramco events.

However, some players may hesitate due to loyalty to the LPGA, concerns about reputational damage, or fears of exclusion from major championships, complicating their decision to join a LIV women’s tour.

Beyond financial incentives, a LIV women’s tour could appeal to players seeking to elevate women’s golf globally, leveraging PIF’s resources to expand the sport’s reach in untapped markets. This is the ‘grow the game’ argument, and while suspicions about authenticity of the claims might exist, they can’t be entirely dismissed.

As LIV Golf enters its fourth year, with fewer public protests and growing fan acceptance evidenced by increased viewership of LIV events (e.g., 2025 LIV Golf Adelaide drew record crowds for the second year running), the initial backlash has softened, potentially easing concerns for players considering a women’s tour. It is hard to imagine that there will not be enough players willing to accept the criticism for the right price.

Given the PIF’s financial might and the LPGA’s limited resources, a strategic partnership with LIV could secure larger purses and global exposure for women’s golf, provided the LPGA negotiates terms that preserve its independence and, for example, pushes for co-branded events or shared governance structures to ensure players retain access to majors while benefiting from PIF’s financial backing.

A seat – or several seats – at the top table in the men’s game might still be the ultimate goal, but demonstrating how “stronger together” may work to the benefit of the women’s game could prove to be the best example.

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