Saudi Arabia buys membership of golf’s most exclusive club
deal is sealed on the golf course. So it was on June 6th, when America’sWorld Tour, the biggest organising bodies in men’s golf, said they had agreed to merge with’s backers invest around $3bn in the combined entity, ends a costly split in the game and gives the Saudis membership of one the most august clubs in sport.Golf teed off last June, financed by Saudi Arabia’s $650bn sovereign-wealth fund. It brought made-for-razzmatazz to a normally genteel game.
The established tours face accusations of hypocrisy. But the deal protects them from competition with. Saudi Arabia, meanwhile, adds another sporting trophy to its cabinet, which already boasts football stars like Cristiano Ronaldo and an annual Formula One Grand Prix. Sport diversifies its economy, keeps restless young Saudis entertained and distracts foreigners from the regime’s unsavouriness. The princes who run the sovereign fund probably find it more congenial than hydrocarbons, too.
Golf fans will get to see more big stars, and probably more of the snappy, team-based contests. Jay Monahan, the’s boss, hailed the tie-up as “transformational”. Other sports may wonder where the oil money will flow next.
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