BEIJING (AP) The PGA Tour has signed a deal to accomplice with Chinese language agency Shankai Sports activities to handle the operations of its China collection for 20 years from 2018.
Shankai, a Beijing-based agency, says its new enterprise is receiving a 300 million yuan ($45 million) funding from Yao Capital, a non-public fairness agency co-founded by former Houston Rockets participant Yao Ming, and U.S.-based IDG Capital.
After a one-year hiatus, the PGA Tour China Sequence will resume subsequent 12 months.
The transfer comes as China has cracked down on golf lately, with authorities closing greater than 100 programs in an effort to preserve water and land.
Greg Gilligan, PGA Tour’s Higher China managing director, says the closures have been associated to code violations and that China is supportive of the game.