Tag: PGA Tour Enterprises

PGA Tour taps Andy Wietz to serve as chief marketing and communications officer, VP of investor relations

PGA Tour hires veteran marketing, communications officer from Aon.

The PGA Tour announced Monday it has hired Andy Weitz to serve as chief marketing and communications officer and executive vice president of investor relations.

The investor relations portion of the role will focus on developing messaging and communicating strategy for PGA Tour Enterprises, the new for-profit subsidiary of PGA Tour, Inc. The group was formed this year when Strategic Sports Group made an initial investment of $1.5 billion in the new commercial venture that gives players an investor stake in the business.

Weitz spent the past decade working for Aon plc, most recently as chief marketing officer for the global professional services firm. Aon has built deep relationships in golf in recent years.

Read the full media release announcing Weitz’s hiring below:

PONTE VEDRA BEACH, Florida – The PGA Tour today announced that Andy Weitz has been named Chief Marketing & Communications Officer and Executive Vice President, Investor Relations, for the Tour’s global operations. In the role, Weitz will be responsible for positioning the PGA Tour brand for current and future investment while communicating its global strategy and performance to the Tour’s stakeholders and beyond.

“As our business continues to evolve and grow, Andy will be an invaluable addition to the PGA Tour given his experience as a trusted advisor to many of the world’s largest and most influential companies,” said PGA Tour Commissioner Jay Monahan. “With his track record of helping global companies tell their stories and engage their stakeholders, as well as his deep knowledge of the business community, Andy will be instrumental in further elevating the PGA Tour brand and helping our organization grow.”

In addition to overseeing marketing and communications for the PGA Tour, Weitz will take on a newly created investor relations role that is responsible for developing messaging and communicating strategy for PGA Tour Enterprises, a for-profit subsidiary of PGA Tour, Inc., incorporated earlier this year. In January, the Strategic Sports Group (SSG) made an initial investment of $1.5 billion – with up to $3 billion available – into the new commercial venture, and this funding will allow the PGA Tour to make significant strategic investments to enhance the PGA Tour experience for fans and players, and benefitting tournaments, sponsors and other constituents.

Through the PGA Tour Enterprises structure, the PGA Tour unveiled a Player Equity Program, a first in professional sports.  PGA Tour players now have an investor stake in the Tour’s commercial growth, which creates alignment between the organization’s athletes and the strategic investments that will further grow the game and engage the next generation of fans.

“With the launch of PGA Tour Enterprises and the investment made by SSG, the PGA Tour’s business has grown significantly in value, opportunity and complexity,” said Joe Gorder, PGA Tour Enterprises Board Chairman. “This new role is important to the PGA Tour’s ability to successfully execute its strategy and deliver an engaging, satisfying future product for fans.”

“In our search, Andy’s experience and clear ability to use a mix of techniques to reach and engage everyone from Main Street consumers to Wall Street investors stood out,” said Ed Herlihy, PGA Tour Policy Board Chairman. “I am confident Andy will contribute enormously to the organization’s future success.”

Weitz comes to the PGA Tour following a decade at Aon plc, where he most recently served as Chief Marketing Officer for the global professional services firm. During his tenure at Aon, Weitz led the integration of the worldwide marketing and communications team and the unification of its global brand strategy, including a rationalization of its sponsorship portfolio, which included properties across Premier League football, Formula One racing, Major League Baseball, the National Football League and international rugby.  While at Aon, Weitz was also responsible for leading the firm’s widely recognized brand building efforts, especially advancements in its use of digital strategies to engage the firm’s colleagues, clients and investors.

In 2019, Aon established an Official Marketing Partnership with the PGA Tour, beginning with the award-winning “Aon Risk Reward Challenge” that launched simultaneously on the LPGA Tour and was the first program to offer equal prize money to winners on the men’s and women’s tours. At that time, Aon also became a worldwide partner of the Ryder Cup and introduced the “Nicklaus/Jacklin Award presented by Aon,” which recognizes the player that best represents the spirit of each Ryder Cup competition. More recently, Aon evolved its PGA Tour relationship to include naming rights to the new eligibility paths for Signature Events, known as the Aon Next 10 and the Aon Swing 5, and transitioned the Aon Risk Reward Challenge into “Aon Better Decision Breakdowns” to emphasize the use of real-time data during in-telecast segments to analyze player decisions.  In parallel, the firm has continued it successful Aon Risk Reward Challenge program with the LPGA.

“I’ve seen the power of the PGA Tour brand firsthand, as both a fan and a partner, and am truly excited to play a role in growing its global impact at this transformative moment,” Weitz said. “As the organization evolves, it’s critical that we stay focused on fan priorities, aligned with player interests and accountable to partner and investor expectations. I’m looking forward to listening to and learning from all our stakeholders.”

Prior to joining Aon in 2014, Weitz was U.S. President and Chief Executive Officer of Hill+Knowlton Strategies, a leading global strategic communications consultancy in the WPP portfolio. While there, he also served as Chief Operating Officer of the U.S. region and as Vice-Chair of the global Corporate Advisory Practice, which included the financial, internal, corporate communications and public affairs practices of the global firm.

Weitz holds a Bachelor of Arts from the Annenberg School for Communication at the University of Southern California and a Master of Business Administration from the Kellogg School of Management at Northwestern University.

Weitz and his family will relocate to Ponte Vedra Beach, Florida, this summer, and formally begin his work with the PGA Tour in mid-August.

The PGA Tour thanks its partners at Korn Ferry for the successful completion of this important executive search.

PGA Tour executive Tyler Dennis details Player Equity Program, payouts and more

“We want to make the PGA Tour as good as it can possibly be.”

Tyler Dennis called the moment historic.

That’s what the PGA Tour’s Chief Competitions Officer said Wednesday when speaking to Golf Channel’s Anna Jackson discussing the PGA Tour Enterprises Player Equity Program, which was introduced Wednesday.

The program, which is a joint venture between the PGA Tour and Strategic Sports Group, will reward 200 PGA Tour players with $1.5 billion in equity. The program rewards players based on career achievements, future participation and services and more. The grants are only available to qualified players.

The program gives players the opportunity to be owners of the organization, which is unique since there are so many Tour players with their hands in the pot.

“There’s no other sports league in the world that has this significant number of their athletes as owners of their own sports organization,” Dennis said. “And we’re really excited about it because ultimately, we want to do what’s right. We want to grow the PGA Tour in many different ways and having the alignment of players as player-owners with the organization is going to allow us to drive that quickly forward. We’re really excited about it.”

Dennis said there has been a lot of positive feedback about the Player Equity Program among the membership since the announcement. He said it has grown in positivity since the announcement of SSG getting involved in creating the for-profit entity, PGA Tour Enterprises, earlier this year.

“We want the players to be fully aligned with their organization,” Dennis said. “It’s something no other sport has done before and we’re seeing an incredible amount of excitement about that.”

Dennis also said this investment will be extremely beneficial to the fans, which has become a big talking point in recent months regarding discussions of the state of professional golf.

“Fans want to see the PGA Tour leap forward,” Dennis said. “We’re really focused on innovating. We haven’t stood still, we’ve done a lot over the last few months to have the players directly engaged in that.”

Not every player is included in the equity program, but that doesn’t mean there won’t be ways to get involved or for younger stars and rookies to get their hands in the pot.

Toward the end of the interview, Jackson asked whether players will be expected to contribute to the growth to increase their value beyond just playing PGA Tour events.

“Well, ultimately, we have an incredible sport and that our athletes really care about,” Dennis said. “They’re constantly every day thinking about how to improve our platform about our products. That’s a unique thing in sports and our athletes are out entertaining clients and sponsors that help us put on this tournament and ultimately drive a significant amount of charity, so it’s sort of built into the sport.

“Our players are highly engaged. We had a great advisory council meeting, where we talked about things from other sports that we’ve learned. I think what we want them to do is play golf. You know, fans want to see them display their incredible skills on the course. But being aligned with the overall goals of the organization is really what this latest announcement today is about.”

Dennis said he wasn’t able to discuss whether players who return from LIV Golf to the PGA Tour would be able to be a part of the program, but he did mention talks continue to accelerate with the PIF.

In the roughly 10-minute interview, Dennis mentioned the word “exciting” nine different times in addition to “historic.” Although nothing major is changing in terms of the schedule, Dennis said the players are striving to deliver the best product for fans.

“We want to make the PGA Tour as good as it can possibly be,” Dennis said.

Lynch: PGA Tour board changes prove players can’t run a billion-dollar business as a side gig

Ogilvie’s appointment is a tacit admission that the prevailing wisdom on Tour — players should be in charge — is twaddle.

Press releases issued from the PGA Tour’s Global Home are usually more noteworthy for what is omitted than what’s included, but are often so artlessly composed that a kernel of truth inadvertently reveals itself. So it is with the announcement of the slate of board members at PGA Tour. Enterprises, the new for-profit entity that will set the future shape of the men’s professional game.

The boardroom has seats for the six player-directors from the Tour’s Policy Board, none of whom have an MBA and most of whom lack a college degree. Four chairs go to Strategic Sports Group, which just invested $1.5 billion into the new company, but nothing was offered on whether those seats will be split if the Saudi Arabian Public Investment Fund kicks in a similar contribution. The Commissioner and an independent director from the Policy Board swell the ranks of the double-jobbers serving both panels, while Keith Pelley apparently didn’t hear the tune end in this game of musical chairs; his DP World Tour went unmentioned.

It’s the 13th man on the roster who warrants attention. Joe Ogilvie competed on the PGA Tour for 15 years before quitting in 2014 to become a money manager. He’s smart and personable, a man who studies the minutiae of the golf business with a fervor that most of his peers can only muster for yardage guides and conspiracy theories. Few people are more invested in or animated about the jacketed side of the PGA Tour.

Ogilvie was named to both the Tour’s governing Policy Board and to the board of PGA Tour Enterprises as a “director liaison” — a position described by HQ as an aide-de-camp for players facing the significant time commitment of serving on two boards. He will be additive and influential, and not only because he gives players a symbolic 7-6 majority in the room. But his appointment is a tacit admission that the prevailing wisdom on Tour — players should be in charge — is twaddle.

A small group of stars has largely assumed directional control of the Tour, but how well that works will depend on how those stars exercise the power they’ve accumulated. In their eagerness to show that they’re the captains now, newly empowered players risk confusing governance with management.

A board ought to focus on the former — strategic goals, organizational health and structure — while leaving operational decisions and execution to an executive team. But this is a member organization and every member has a granular list of grievances around which he thinks the Tour ought to be arranged. The board includes players whose faith in its executives is sorely lacking, and who are themselves overly concerned with score-settling over the secretive Framework Agreement announced on June 6.

It’s fanciful to imagine that a multi-billion dollar business can be run as a side hustle by golfers who are trying to win tournaments or just keep their cards. Even Ogilvie has a day job.

That matters because PGA Tour Enterprises faces numerous issues that are existential. A rudimentary accounting of those:

  • The lack of progress in reaching a deal with the Public Investment Fund, and what must be a gnawing fear that the Saudis are deliberately delaying things to bleed out the Tour’s product strength.
  • The looming expectations of a return on investment — or at least material changes in business operations — by the Strategic Sports Group, a daunting reckoning for a complacent, legacy organization.
  • Broadcast ratings that are sluggish at best, and worrisome at worst, and which suggest eroding consumer interest just as the Tour tries to persuade constituents that they need to invest more capital.
  • Sponsors fed up with being asked to pay more for the same, or less.
  • Tournament directors angry at having to pay higher fees to headquarters, which for many means robbing the charitable poor box to give more to millionaires.
  • Leadership that is still struggling to regain the trust of the membership nine months and one day after the Framework Agreement was announced.
  • Players who are single-mindedly bent on retribution against those who engineered that Agreement, as though the guys who did nothing but hold their own Tour hostage can claim moral superiority over those who tried to do something, imperfect as it was.
  • Rank-and-file members who see opportunities they earned be diminished because of the relentless focus on rewarding those at the top of the pyramid.
  • Stars who insist the Tour’s business be organized around them — and that they be compensated not as the assets they are, but as the owners they imagine themselves to be — while underperforming for the product in 2024.
  • Around all of that, internal and external messaging that only departs from the banal so that it might veer into the blundering.

The PGA Tour has never been in a more precarious position. It’s hardly on the brink of ruin, but there are major systemic issues that aren’t being addressed quickly enough. Some of those are concerns for the board, some for management, but there’s a palpable sense that no one is really happy. The field at Bay Hill has been almost halved to just 69 competitors, and so few were working on Wednesday afternoon that the occupants of the practice putting green barely outnumbered LIV’s spectators in Jeddah last weekend. “Arnold Palmer would be so f****** pissed to see what has gone on here,” one tournament veteran said. “It feels like a member-guest.”

That from a Tour loyalist.

The coming months will expose how Balkanized things have become on the Tour’s Policy Board, which can only bleed into the newly-constituted board of PGA Tour Enterprises given the overlap. There exists no unity of vision for the future of the Tour among the 13 men on this board, at least not yet. Eventually, one faction will win the squabble over who gets to pilot the ship. Maybe then they’ll actually notice that their paying passengers have been quietly disembarking for a while.

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PGA Tour Enterprises launched with nine players, including Tiger Woods, on board of directors

The more significant news was the naming of retired Tour pro Joe Ogilvie to the board.

The newly formed PGA Tour Enterprises announced its first board of directors on Wednesday.

The 13-member board has nine PGA Tour Directors, approved by the Tour’s Policy Board, and four Strategic Sports Group Directors, appointed by the SSG investor group. This board will lead all commercial activities related to the PGA Tour and will focus on driving fan engagement and growth, as well as developing new media, sponsorship and commercial opportunities.

All six current Player Directors from the Tour Policy Board will simultaneously serve on the Tour Enterprises Board of Directors: Patrick Cantlay, Peter Malnati, Adam Scott, Webb Simpson, Jordan Spieth and Tiger Woods.

The more significant news was the naming of retired Tour pro Joe Ogilvie to the board.

“Given the significant time investment required from the players to serve on both Boards – and as part of the Tour’s governance review – the Player Directors identified the benefit of having a ‘Director Liaison’ on both Boards as well,” the Tour said in a news release. “Ogilvie will join the PGA Tour Policy Board and the PGA Tour Enterprises Board of Directors.

Joe Gorder, who serves as an Independent Director on the Tour Policy Board, and PGA Tour Commissioner Jay Monahan round out the Tour representation on the Enterprises Board. Monahan will serve as the CEO of Enterprises, and Woods will serve as the Vice Chairman of the Board.

As announced in January, SSG – a consortium of American sports team owners led by Fenway Sports Group – joined PGA Tour Enterprises as a minority investor, providing an initial $1.5 billion of capital that will “unlock investment opportunities to grow the Tour and enhance the game of golf around the world.”

The four SSG Directors will be:

  • John W. Henry, Principal, Fenway Sports Group; Manager, Strategic Sports Group
  • Arthur M. Blank, Co-Founder, Home Depot; Owner and Chairman, AMB Sports and Entertainment (Atlanta Falcons, Atlanta United, Mercedes-Benz Stadium, Atlanta Drive GC, PGA Tour Superstore)
  • Andrew B. Cohen, Chief Investment Officer and Co-Founder, Cohen Private Ventures; Vice Chairman, New York Mets
  • Sam Kennedy, Partner/CEO, Fenway Sports Group; President & CEO, Boston Red Sox

The PGA Tour Enterprises Board will elect a chairman at an upcoming meeting.

“Today’s announcement is another milestone for our organization, as I believe we have arrived at a PGA Tour Enterprise’s Board of Directors with the right composition, expertise and balance necessary to take our organization into the future,” said Monahan. “Our current and former players will provide essential insight into our members’ priorities and needs. And we welcome key SSG members to the leadership team, whose exceptional track records and achievements in global professional sports will lend a wealth of knowledge into the opportunities ahead for the PGA Tour. Their expertise will undoubtedly play a pivotal role in the success and growth of our commercial initiatives.

“It’s an opportunity for us to shape something special that will not only create more value for the PGA Tour, but will also benefit and grow our fanbase,” the Player Directors and Liaison Director said in a joint statement.  “We’re ready to get started.”

“Our role on the Enterprises board will focus on hearing Player Director ideas and working alongside them to ensure the sport’s commercial growth occurs in a way that creates the best possible product for fans,” said Henry. “All of us at Strategic Sports Group see a bright future for the PGA Tour and the constitution of the Enterprises Board is an important first step in realizing that future.”

In addition to Ogilvie’s forthcoming appointment, Monahan will be a voting member as well, which will expand that Policy Board from 12 to 14.

Player Directors

Patrick Cantlay, Peter Malnati, Adam Scott, Webb Simpson, Jordan Spieth, Tiger Woods

Liaison Director

Joe Ogilvie

PGA Tour Commissioner

Jay Monahan

Independent Directors

Edward Herlihy, Jimmy Dunne, Mark Flaherty, Mary Meeker, Joe Gorder

PGA of America Director

John Lindert

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Player equity in $3 billion PGA Tour Enterprises to be broken down into four groups

The majority of equity will be granted to 36 players based on career and last 5-year performance, PIP results.

When the PGA Tour announced the $3 billion investment from the Strategic Sports Group (SSG) to create the PGA Tour Enterprises, one of the biggest questions surrounding the deal regarded player equity.

A Tour statement said “nearly 200 PGA Tour members will have the opportunity to become equity holders” in the new for-profit entity and that PGA Tour Enterprises was “also considering participation by future PGA Tour players that would allow them to benefit from the business’s commercial growth,” meaning new players or those who return from LIV Golf would have access once they gain membership.

A week after the initial release, the Tour sent a memo to players – first reported online by Ryan French of Monday Q Info – on Wednesday breaking down the equity groups and how grants would work. The player grants will vest over time and only qualified PGA Tour players are eligible.

From the memo:

  • Group 1 consists of $750 million in aggregate equity and will be granted to 36 players based on career performance, last 5-year performance, and Player Impact Program results.
  • Group 2 consists of $75 million in aggregate equity and will be granted to 64 players based on the last 3-year performance.
  • Group 3 consists of $30 million in aggregate equity and will be granted to 57 players who have earned certain fully-exempt PGA Tour status categories.
  • Group 4 consists of $75 million in aggregate equity and will be granted to 36 players who were instrumental in building the modern PGA Tour, based on career performance.

Of the initial $1.5 billion of the $3 billion investment, $930 million is accounted for in those four groups. But what about the rest of the initial investment?

“The recurring player equity grants are incremental to the initial grants, are in the aggregate amount of $600 million, and are planned to be awarded in the amounts of $100 million each year starting with the 2025 PGA Tour Season and continuing through the 2030 PGA TOUR Season (at a minimum),” the memo read. “It is important to note that all PGA Tour members are eligible to receive recurring grants – regardless of whether or not they received an initial grant. These recurring grants will reward future top performers and will be based on last 3-year performance, last year performance and Player Impact Program results.”

PGA Tour Enterprises also allows for a co-investment from Saudi Arabia’s Public Investment Fund, “subject to all necessary regulatory approvals.”

Back on June 6, 2023, the Tour announced a framework agreement with the DP World Tour and Saudi PIF to create the for-profit entity now known as PGA Tour Enterprises. Four months later, the PGA Tour’s policy board announced it had advanced discussions with the SSG and that it had not shut the door on the PIF.

The Dec. 31 deadline to come to a definitive agreement with the PIF was extended, and Monahan recently sent a memo to players that stated “active and productive” negotiations would continue into 2024 with the PIF based on the progress made to date. Monahan and Al-Rumayyan reportedly met last month in Saudi Arabia to continue negotiations.

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LIV Golf Chairman Yasir Al-Rumayyan updates players on potential future investment in PGA Tour Enterprises

The letter comes a day after the PGA Tour secured a $3 billion investment from the Strategic Sports Group.

PLAYA DEL CARMEN, Mexico — Saudi Arabia’s Public Investment Fund was first to the table in June of 2023 to negotiate a framework agreement with the PGA Tour to create a new for-profit entity that would alter professional golf as we know it, and has been locked in discussions in the seven months since.

Just hours after news broke that an outside investment group comprised of a consortium of U.S. sports owners had agreed to invest $3 billion to create PGA Tour Enterprises, Greg Norman responded with a letter to the entire league staff that was obtained by Golfweek. The note didn’t just hype up LIV Golf’s third official season – which begins this week at Mayakoba’s El Camaleon Golf Course – but also downplayed any negative impact the Strategic Sports Group’s investment may have on LIV’s future.

A day later, Golfweek has obtained yet another letter, this time sent from LIV Golf Chairman Yasir Al-Rumayyan to players, that took a more measured approach.

Dear All,

Yesterday’s announcement of the formation of PGA Tour Enterprises is consistent with PIF’s longstanding passion to grow the game. PIF continues to discuss and evaluate the possibility of a future investment that benefits the greater game of golf.

PIF remains committed to investing in and supporting LIV and the team golf format that has brought new energy and so many new fans to the game around the world.

The game of golf is only beginning to fulfill its potential. This is the vision we had when LIV was created, and today that is more alive than ever. LIV has transformed the sport, and we will continue to grow the game globally, expand its fanbase, elevate its platform, and maintain incredible momentum.

LIV has a great season ahead. Good luck at Mayakoba. I will see you all on the range soon.

Yasir

LIV Golf Chairman

[5:27 PM] Woodard, Adam

Words matter, and Al-Rumayyan chose his carefully by hedging any guarantee of an investment. He also amplified the PIF’s investment in LIV and made it clear the league plans to continue to grow whether or not a deal is reached, as seen with new player signings and eight of 14 events outside the United States. In the Tour’s announcement of its partnership with the SSG, the release stated PGA Tour Enterprises allows for a co-investment from the PIF in the future, “subject to all necessary regulatory approvals.”

The U.S. government has kept a keen interest in the proposed PIF investment since the initial framework agreement was announced. An optimist would say the inclusion of the SSG investment may dilute any future Saudi investment just enough to make a deal more palatable for the feds. A pessimist could also argue the Tour is attempting to squeeze the Saudis out.

LIV Golf has ventured on after the Tour and PIF’s previous deadline of Dec. 31, 2023, to come to an agreement was missed. The league has poached great players and characters like Jon Rahm and Tyrrell Hatton and will host at least four events in 2024 the same week as PGA Tour signature events, including this week in Mexico. While the possibility of an investment in PGA Tour Enterprises is certainly still on the table, Al-Rumayyan’s letter sure makes it seem like the two sides still aren’t close to coming together.

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Report: LIV Golf chairman Yasir Al-Rumayyan could face $74 million lawsuit in Canadian court

The potential lawsuit comes at a bad time for not just LIV Golf, but also the PGA Tour.

Yasir Al-Rumayyan – the governor of Saudi Arabia’s Public Investment Fund and the chairman of LIV Golf  – could be facing a $74 million lawsuit, according to a report in The Athletic.

Legal papers that were sent to Al-Rumayyan at various PIF addresses in Saudi Arabia, New York and London (as well as the stadium of PIF-owned Newcastle United in England) allege the 53-year-old “carried out the instructions” of current Saudi Arabian Crown Prince Mohammed bin Salman with “the malicious intent” of “harming, silencing and ultimately destroying” the family of the Kingdom’s former intelligence chief, Dr. Saad Aljabri. The Aljabri family is seeking $74 million in damages.

Aljabri was a top aide to former Saudi Prince Mohammed bin Nayef, who was removed from his post in 2017 and has been in detention since 2020. At the time, Reuters reported bin Nayef had been forced to step aside “in an effective palace coup,” but a Saudi official said the claim was “unfounded and untrue in addition to being nonsense.”

From The Athletic:

The claim Aljabri hopes to bring against Al-Rumayyan will, if the Canadian court grants permission, allege that defendants including Al-Rumayyan were “directly involved” in a three-and-a-half-year campaign between June 2017 and January 2021 to pursue the family of Saad Aljabri, who is a former top aide to Prince Mohammed bin Nayef.

Why a Canadian court? Aljabri fled Saudi Arabia for Turkey in 2017 and then made his way to Canada. Three years ago, Saudi state-owned firms claimed in a Canadian lawsuit that Aljabri had embezzled hundreds of millions of dollars of state funds, an accusation that Aljabri has denied.

The documents sent to Al-Rumayyan this month ask the Canadian court for permission for Al-Rumayyan and others to not only be added to an existing court case, but for a new claim to be brought against them as well. The PIF and board member Mohammed Al Al-Sheik have also been listed as intended co-defendants in the legal papers.

The potential lawsuit comes at a bad time for both LIV Golf and the PGA Tour. The Saudi-backed circuit is less than a month from hosting its first event of 2024 in Mexico and the Tour is currently engaged in conversations with the PIF and outside investors to form a for-profit entity, PGA Tour Enterprises. The PIF is governed by Al-Rumayyan and bin Salman is its chairman. Al-Rumayyan was also originally tabbed to be the chairman of the new entity’s board if an agreement is reached.

For more on the history of tension between Crown Prince Bin Salman and Aljabri and the Kingdom’s involvement in its sovereign wealth fund, read the full report here.

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