R&A CEO Martin Slumbers Met With Yasir Al-Rumayyan Sunday at British Open

The R&A CEO last week said that rising prize purses in golf are concerning, and that Saudi investment in sports is inevitable.

Yasir Al-Rumayyan, the governor of the Public Investment Fund which backs the LIV Golf League, met with the CEO of the R&A, Martin Slumbers, on Sunday during the final round of the British Open at Royal Liverpool.

The Telegraph reported that Al-Rumayyan and key associate Amanda Staveley were guests of the sponsor and were able to set up a meeting with Slumbers, who last week acknowledged that Saudi investment through the PIF is inevitable in sports around the world.

The R&A confirmed the meeting took place, although it was suggested the meeting was more symbolic than substantive. Slumbers said last week that he along with the others leaders in golf were waiting to see the outcome of a framework agreement negotiated between Al-Rumayyan and the PGA Tour and DP World Tour that was announced on June 6.

“If I'm very open, we are and do and continue to talk to various potential sponsors,’’ Slumbers said. “We have a number of large corporate partners that help us make this thing happen. I think the world has changed in the last year. It's not just golf. You're seeing it in football. You're seeing it in F1. You're seeing it in cricket. I'm sure tennis won't be that far behind.

“The world of sport has changed dramatically in the last 12 months, and it is not feasible for the R&A or golf to just ignore what is a societal change on a global basis. We will be considering within all the parameters that we look at all the options that we have.’’

Slumbers expressed concern about the fast-paced rise in purses in the game. He didn’t cite LIV Golf specifically, but he noted the increase to $16.5 million for this year’s tournament was ahead of schedule.

LIV Golf has been offering $25 million purses plus signing bonuses to players since launching last year, with a team element and a season-ending team championship.

The PGA Tour responded by putting in place a series of designated events this year that saw purses rise from either $8 million or $12 million to as much as $20 million. There are eight designated events scheduled for next year with seven of them carrying a $20 million price tag. The first two FedEx Cup playoff events, the FedEx St. Jude and the BMW Championship, have also increased to $20 million.

In seeking a deal with the PIF, the Tour and commissioner Jay Monahan suggested that the rise in purses is not sustainable. According to various sources, sponsors on the PGA Tour have balked at paying more than their contracts specified. The Tour has subsidized a good portion of the increases in 2023 but has pushed title sponsors to take on the burden beginning in 2024.

Staveley is a British businesswoman who had a key role in the PIF’s purchase of the Newcastle United Premier League football team.

“To be clear, we're not party to the agreement, and while we absolutely welcome an end to the disruption in the men's professional game, there is a lot still to be understood,’’ Slumbers said about the June 6 announcement. “We will await the outcome with interest. Until then, we intend to focus on what we can control, which is staging our championship successfully, governing with the best interests of the game at heart, and doing all we can to get more people playing golf.’’