The PGA Tour and Saudi Arabia's Public Investment Fund (PIF) have reached an agreement, with the PIF gaining a seat on the PGA Tour's board and a stake in the new company, NewCo. The deal allows the PGA Tour to maintain control of its own destiny and business, with the PIF investing $2-3 billion in the new company. The agreement has sparked controversy, with some questioning the Saudi government's motives and the potential impact on the golf industry. [... more]