Last week, DP World Tour player Eddie Pepperell appeared on the Chipping Forecast and said he believed that the Saudi Arabia Public Investment Fund would buy Wentworth Club, which hosts the DP World Tour's annual BMW PGA Championship.
“Talking of the Saudis, I was told this week by someone who would know that they are buying Wentworth. The PIF are buying Wentworth, for sure. That's what I was told,” Pepperell said.
Wentworth is also the home of the DP World Tour headquarters, so a deal with PIF would send shockwaves.
But on Monday Wentworth's board denied those rumors in a definitive statement to Golf Monthly.
“Wentworth Club can today confirm that these rumours are unfounded," the board said. “Wentworth Club is not for sale. There have been numerous expressions of interests in buying Wentworth post COVID, but Reignwood is committed to its position of long-term investment in the asset.”
The board was also asked about specific conversations with the PIF about a potential investment, which it also denied.
“No. The Club is in good financial status, there is no interest in bringing in additional investment. There has always been global interest coming directly or through agencies with expressions of interest in purchasing the Club. There has not been any direct dialogue between Wentworth Club and PIF on this topic.”
Wentworth Club was acquired by Reignwood Investments, a company owned by Chinese-Thai billionaire Chanchai Ruayrungruang (also known as Yan Bin), in September 2014.
The Wentworth board's statement continued: "Wentworth Club is not for sale, the Reignwood Group is committed to the Club’s future and is excited about the imminent launch of the reimagined and restored East Course as well as the new state-of-the-art Golf Academy.
“Wentworth Club is also an important asset in Reignwood’s global golf club portfolio, including Reignwood Pine Valley in Beijing and Reignwood Park in Thailand, which is currently under construction with total investment over 1 billion USD. Wentworth Club is in good financial status, there is no interest in bringing in additional investment.”
This article was originally published on www.si.com as Wentworth Denies Rumor That Saudi Arabia's Public Investment Fund Is Trying to Buy It.
