PGA Tour handed major £158 million boost as Saudi talks over LIV Golf merger go on

The PGA Tour has secured a significant financial boost with a new £158 million ($200 million) sponsorship deal with Truist Bank. As part of the agreement, Truist will take over the naming rights of the Wells Fargo Championship, renaming it the Truist Championship.

This prestigious event, held at Quail Hollow Club in Charlotte, has been one of the Tour’s “Signature Events” and will now benefit from a seven-year partnership with Truist. The tournament, which offers a prize pot of £15.7 million ($20 million), is set to relocate to The Philadelphia Cricket Club in 2025, before returning to its original venue the following year.

While this sponsorship deal strengthens the financial stability of the PGA Tour, the organization remains locked in negotiations with Saudi Arabia’s Public Investment Fund (PIF) regarding a potential merger with LIV Golf. These talks have dominated the golf world, as the influx of Saudi funding has reshaped the competitive landscape, driving up prize money across the sport. Although the initial framework for the merger was announced in June, discussions have continued, with both sides working toward a resolution that could redefine professional golf.