Saudi Arabia’s Public Investment Fund (PIF) could become an Open sponsor, R&A chief executive Martin Slumbers has admitted.
LIV Golf CEO Greg Norman was not invited to last year’s Champions’ Dinner at St Andrews, where Slumbers criticised the LIV model as not being in the “best interest of the sport” and “entirely driven by money”.
Read more:
- Controversial LIV Golf tour considering event in Ireland
- PGA Tour, DP World Tour and LIV Golf agree shock merger
However, the shock proposed deal between the PIF, PGA Tour and DP World Tour which was announced in June has shifted the golfing landscape once more and seemingly opened the door for the PIF to become associated with the game’s oldest major.
Slumbers made it clear the Open would never have a title sponsor, but added: “We continue to talk to various potential sponsors. We have a number of large corporate partners that help us make this thing happen.
“I think the world has changed in the last year. It’s not just golf. You’re seeing it in football. You’re seeing it in F1. You’re seeing it in cricket. I’m sure tennis won’t be that far behind.
“The world of sport has changed dramatically in the last 12 months and it is not feasible for the R&A or golf to just ignore what is a societal change on a global basis.
“We will be considering, within all the parameters that we look at, all the options that we have.”
The winner of this week’s Open will receive a record winner’s cheque for 3million US dollars (£2.3m) from a total prize fund of 16.5m dollars (£12.7m), an 18 per cent increase on last year.
That is still some way short of the 20m dollar prize funds for LIV events and designated tournaments on the PGA Tour, but the R&A has to balance having a competitive prize fund with its wider role.
“We have a huge responsibility to the game around the world to grow it, to govern it, and to ensure it’s thriving, and our one asset which is profitable is this week” Slumbers added.
“And the proceeds of this championship have always gone to be reinvested entirely into the game. The £200m that we’ve committed this decade is double what we’ve made in the previous decade.
“We’re not willing to compromise on how we see developing the game because that’s actually what we think is the most important long-term balance for it.
“We had expected prize money to rise over a five-year period, and it’s probably risen three years earlier than we expected it to, so there is a significant change.
“I think you’re seeing the change in the entire business model of men’s professional golf and that’s a significant challenge for us when you take into account our desire to keep growing the game and investing all the proceeds we make into the game.”
Slumbers also used his traditional pre-Open press conference to announce the launch of the inaugural African Amateur Championship, which will be played at Leopard Creek in South Africa from February 21-24 next.
The winner of the 72-man event will receive an exemption into the 152nd Open at Royal Troon.
