In prestige, in tournaments, in personalities. PIF and Aramco deal in billions.īut the PGA Tour has weight in other ways. This is one reason PIF and LIV have more or less a bottomless pit of money to draw from and why the PGA Tour can’t outspend them. How big is Aramco? According to Fortune magazine, Aramco is the second biggest company in the world in terms of revenue, closing in fast on Walmart, which recently had an annual revenue of $622.02 billion. PIF is also involved in many public works programs in Saudi Arabia, from desalinization projects to resorts. PIF owns 5 percent or more of some of those companies. The reasons we know this is that all investors have to disclose stock holdings of 5 percent or more of a company trading on the U.S. PIF also has stakes in EA Sports (Tiger Woods PGA Tour), Take-Two Interactive (NBA2K), Activision (Call of Duty and others), and Japanese manufacturer Nintendo. companies such as Live Nation, Boeing, Facebook (now Meta), Citigroup, Uber, Disney, and Bank of America. Even though PIF is a small part of the overall Saudi wealth, it is a significant shareholder in many U.S. PIF was created in 1971 when King Faisal bin Abdulaziz Al Saud decided to fund projects that had importance to the country’s economy and well-being. In other words, Al-Rumayyan is kind of a big deal, not just in Saudi Arabia, but around the world in business. Really there are more convolutions to it than a world-class origami expert could sort out. tries to maintain a decent diplomatic relationship with Saudi Arabia. oil companies, which is one reason the U.S. The history since then is tangled up in a variety of U.S. With all the moaning and complaining about the PIF, no one bothered to mention that Al-Rumayyan, in addition to being chairman of PIF, is also chairman of Saudi Aramco, the state-owned oil company of Saudi Arabia, which is the largest oil producer in the world.Īramco, is an abbreviation for Arabian American Oil Company, a partnership that started in 1933 between the country of Saudi Arabia and Standard Oil of California. There are both monetary and diplomatic reasons why having Woods enter the picture changes things. Everything that goes through the Tour has to be voted on and ratified, and he actually has a vote on what happens.Tiger Woods joining the PGA Tour Policy Board as a Player Director is the best thing that could have happened in the ongoing battle/not battle between the PGA Tour and the Public Investment Fund ( PIF) headed by Yasir Al-Rumayyan. For him to step up and sort of take a little bit of the load off us is very much appreciated. "He's maybe got a little more time on his hands than we do. "Tiger has stepped up for all of us on tour, and I think he realizes that the players that are on the policy board were trying to play regular golf, and at the same time try to navigate all these different things, as well.
#Pga tour tiger woods professional
"The player over the last 20 years that's left the biggest legacy on the game, for him to be involved in the discussions around the future of professional golf and what that may look like I think is very important. Women's Open – August 10 to 13 – LIVE on Sky Sports GolfįedEx St Jude Championship – August 10 to 13 – LIVE on Sky Sports Golf The Hundred – August 1 to 27 – LIVE on Sky Sports Cricket Newcastle vs Aston Villa – August 12 - LIVE on Sky Sports Premier LeagueĪberdeen vs Celtic – August 13 - LIVE on Sky Sports Footballīrentford vs Tottenham – August 13 - LIVE on Sky Sports Premier LeagueĬhelsea vs Liverpool – August 13 - LIVE on Sky Sports Premier League Enjoy live action from the Premier League, EFL, Scottish Premiership and moreīurnley vs Man City – August 11 – LIVE on Sky Sports Premier LeagueĬoventry vs Middlesbrough – August 12 - LIVE on Sky Sports Football
0 kommentar(er)
