Negotiations between the PGA Tour and the Saudi Arabian Public Investment Fund over a potential merger in men's professional golf are "still very much alive", according to a report by the New York Times.
The Times' DealBook reporter, Lauren Hirsch, has stated that not only are those conversations still ongoing, but - according to two people familiar with the talks - term sheets have been exchanged "in recent days" in relation to a deal that would see the PIF deposit $1.5 billion into PGA Tour Enterprises - the US circuit's for-profit arm.
