From a New York Times story by Kate Kelly and Vivian Nereim headlined “All About the Deep-Pocketed Saudi Wealth Fund That Rocked Golf”:

Behind the head-spinning news this week that the PGA Tour wants to merge with the upstart Saudi rival called LIV Golf is an entity with billions of dollars to back the deal: Saudi Arabia’s sovereign wealth fund.

Though the fund has long been an outsize presence in financial circles, the deal that stunned the golf world has turned a Klieg light on a Saudi business that has been described as one of the most opaque in the world.