Looks like it will be a complex structure, but the Saudis will be an investor.
It’s not so much that the tour is an NFP (they are for tax purposes which isn’t that meaningful) but they didn’t have shareholders. They existed to serve their members.
I’m frankly surprised Monahan has the authority to sell an ownership interest in the Tour. Bettman couldn’t do that for the NHL (or I’d be surprised if he could).
But LIV is dead as a tour at least.
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