Saudi investment in PGA Tour will top $1 billion. And Norman will exit as LIV’s CEO, tour exec says

By BEN NUCKOLS
AP Sports Writer

WASHINGTON (AP) — A PGA Tour executive has told Congress that Saudi Arabia’s sovereign wealth fund agreed to invest more than $1 billion in a new commercial entity controlled by the tour. Ron Price, the tour’s chief operating officer, also said at a hearing Tuesday that Greg Norman will be ousted as the CEO of LIV Golf if the business deal between the Saudis and the tour is finalized. The Permanent Subcommittee on Investigations is looking into the negotiations between the tour and the Saudis and the geopolitical implications of Saudi investment in American sports. However, there was no indication that Congress would block the tour from going into business with the Saudi Public Investment Fund.