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PGA Tour policy board ‘advances discussions’ with investors, still talking to Saudi Arabia’s PIF

As the inaugural mixed-team Grant Thornton Invitational was nearing conclusion, the PGA Tour Policy Board updated its membership on the ongoing negotiations for the future of the Tour.

A story posted on pgatour.com said: “The PGA Tour Policy Board has unanimously selected an outside investment group to further negotiate with as talks with the PIF continue to progress. The decision to advance discussions with Strategic Sports Group (SSG) was announced Sunday in a memo to Tour members.”

Golf Channel’s Rex Hoggard first reported the memo the board sent Sunday.

The memo states that the board has been reviewing proposals over the last few days and that negotiations with SSG will continue. SSG is headlined by Fenway Sports Group but includes Marc Attanasio, Arthur Blank, Gerry Cardinale and Cohen Private Ventures.

This has not shut the door on Saudi Arabia’s Public Investment Fund as the board wrote that “we anticipate advancing our negotiations with PIF in the weeks to come.”

The memo also says the board is “confident in an eventual, positive outcome for all players and the PGA Tour as a whole.”

Story originally appeared on GolfWeek