The PGA Tour-LIV Golf "rivalry" is over, with the two entities merging Tuesday in a stunning about-face after it seemed like their differences would be irreconcilable.
While the golf world is in the fledgling stages of figuring out exactly what this means for the PGA Tour and LIV Golf, only one thing is for certain: The ripple effects around this stone aren't going to settle for a long time.
One of the immediate questions surrounds the new chairman of a new PGA Tour/LIV Golf entity: Yasir Al-Rumayyan, whose portfolio has grown to an incredible degree.
The 53-year-old Saudi has extensive ties to the sports world, among many other business interests. Here's what to know about one of the most powerful figures in the golf world.
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Who is Yasir Al-Rumayyan?
Yasir bin Othman Al-Rumayyan got his start in banking. He now serves as a key advisor to the crown prince of Saudi Arabia, Mohammed bin Salman Al Saud, and the governor of Saudi Arabia's public investment fund (PIF).
Al-Rumayyan also serves as chairman of the board for oil giant Saudi Aramco and holds board positions with Uber and SoftBank.
He was appointed to lead the PIF in 2015, and the fund has become an increasingly powerful force in the sports world in recent years.
He serves as chairman of the English Premier League club Newcastle United and has played a key role in luring top international players to Saudi Arabia's domestic league, most notably Cristiano Ronaldo and Karim Benzema.
It is unclear what Al-Rumayyan's role will be in the game of golf, but he continues to gain international footholds in sports with this partnership.
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Yasir Al-Rumayyan net worth
To call Al-Rumayyan's net worth opaque would be an understatement.
Saudi Aramco is the third-most valuable company in the world behind Apple and Microsoft, per MarketCap, at $2.1 trillion. The PIF is worth $620 billion.
Yasir Al-Rumayyan has been named chairman of the newly created PGA/LIV Golf entity.
— Joe Pompliano (@JoePompliano) June 6, 2023
• Governor of Saudi's $620B investment fund
• Chairman of oil-giant Saudi Aramco
• Chairman of EPL's Newcastle United
• Board member at Uber & SoftBank
• Right-hand man to Crown Prince MBS… pic.twitter.com/XXCUf0HxXr
Even knowing all of this, all that's known for certain is that he's worth at least $15.8 million, as that's what his shares in Uber are valued at, per Wallmine.
With all of the, frankly, staggering numbers floating around him, there's no question the actual figure is far, far higher.
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What is Yasir Al-Rumayyan's role in LIV Golf-PGA Tour merger?
Al-Rumayyan will be the chairman of the yet-to-be-named partnership between the PGA Tour and LIV Golf.
It essentially is meant to globalize golf more than it has been in the past, Al-Rumayyan claims. He replied "exactly" on CNBC when he was asked if the goal was one entity for global golf.
CNBC: So are you looking at 1 entity for global golf?
— Michele Steele (@MicheleSteele) June 6, 2023
“Exactly,” says Yasir Al-Rumayyan, chairman of newly merged LIV/PGA entity pic.twitter.com/8KhSZABsqA
What is Jay Monahan's position after PGA Tour-LIV Golf merger?
If Al-Rumayyan is the chairman, then what does that make PGA Tour commissioner Jay Monahan?
Monahan will be the CEO of the entity, with Al-Rumayyan and Monahan apparently splitting power.
"The way we're doing our partnership, it's gonna be really big," Al-Rumayyan said on CNBC. "In many senses. We will have both LIV and the PGA Tour -- in addition to all of our assets -- and we will be investing the growth of the game of golf. And doing many new things that I think will have better engagement from the players, the fans, the broadcasters, the sponsors, everyone else. And hopefully to even give better access for more people to the game of golf."
PGA Tour Commissioner Jay Monahan and Saudi PIF Governor Yasir Al-Rumayyan sit down with @davidfaber to discuss the agreed merger of @PGATOUR and @livgolf_league.
— Squawk on the Street (@SquawkStreet) June 6, 2023
Monahan: What we're talking about today is coming together to unify the game of golf under one umbrella. pic.twitter.com/UwGxTOEmMt
Parsing through the word salad, it's clear LIV Golf will have influence in this new entity. While the traditional PGA Tour will remain, it's abundantly clear that the representatives of LIV will want to bring their ideas into play.
Al-Rumayyan has become one of the most influential figures in global sports, and it's clear he is a face Saudi Arabia wants to put forward. What that means for golf remains to be seen. But the fallout of this merger could end up being immense.
