Sneakylong According to Jimmy Dunne they wouldāve walked away had not Yasir agreed to the PGA Tour having control of the new entity.
Sneakylong However, the Saudiās will only have one vote on the board and that will be Yasir. Jimmy Dunne said he will stay on the board to see this through.
It just doen not make any bussiness sense whatsoever that a person or entity that puts the bulk of the money into a new company would not have a controling stake in it. Yasir Al-Rumayyan is entitled to appoint 1 member of the board of PGA in exchage of the money input, but he has the presidency and controling stake in PIF-general and of the new PIF-golf subsidary.
PIF is the biggest investment fund on the planet with only one purpose : making the richest man on earth even richer. The new PIF-golf entity is not different, invest in top-golf, make a tonload of profit with television rights and advertising and giving a 'fair share' to PGA and DPWT.
Generating profit is where LIV fails for now. Only 2 options : take the losses of buying all those top golfers and LIV ceases to exist or Yasir Al-Rumayyan uses his new influence and the legal cease fire to get LIV on television as well and make it profitable. The legal war over getting the players ended, so the war over getting the television coverage (profit) can start, but whoever wins here it will be Yasir Al-Rumayyan (PIF-golf) who will be pocketing most of the profits. That could be considered as a trust.
PIF has been aiming at football (not the Amercian kind) for years buying top players for the Arabic leage with the same purpuse. If they succeed it will be Yasir Al-Rumayyan as well controling the PIF-football entity and not FIFA boss Gianni Infantino. PIF is a bussiness that aims for profit not a charity or non profit organisation.