Terry Duffy doesn’t mince words when it comes to his doubts about the LPGA’s latest move. The CME Group CEO spoke candidly this week about the tour’s partnership with Golf Saudi. His concerns carry weight, given that CME provides the largest non-major purse in women’s golf at $11 million.

The contradiction in Duffy’s position makes this situation interesting. He admits CME Group does business in Saudi Arabia, too. Yet he questions why the LPGA needed to make this partnership happen. Duffy made his thoughts clear during the CME Group Tour Championship in Naples, Florida on November 20, 2025. CME simultaneously announced a two-year extension of its LPGA partnership through 2027.

The LPGA announced its first direct partnership with Golf Saudi in early November 2025. The Aramco Championship will take place at Shadow Creek Golf Club in Las Vegas from April 2-5, 2026. The tournament features a $4 million purse and will be co-sanctioned with the Ladies European Tour.

Duffy called the decision curious during his media availability. He struggled to understand why this became a precedent-setting event.

“We’ll see how that Las Vegas event goes. I’m curious why that was a precedent-moving event. I don’t understand that one.”

The CME Group chairman explained his complicated position. He runs a public company with a diverse workforce and champions women’s sports. However, brand association matters deeply to him.

“I run a public company with a very diverse workforce. I have a lot of women, and I champion women’s sports and in business, and certain women have different viewpoints about how they accept their way of life.”

Duffy acknowledged the complexity of his stance. He does business in Saudi Arabia himself. Still, protective instincts about his brand kicked in when the LPGA announcement came.

“I’m not here to criticize because I do business there, too. But when my brand is associated with certain things, I do get a little concerned. I’m very protective of my brand, so I didn’t see the need. But that’s not my call to make.”

His position carries weight given CME’s 14-year partnership with the LPGA since 2011. The company has consistently pushed for higher purses and better player treatment. Duffy previously criticized LPGA leadership in 2022 over player attendance issues. New LPGA Commissioner Craig Kessler defended the decision strongly. He emphasized the business rationale behind the partnership. The event checks every box for routing, courses, and purses. Partnerships built on the LET’s collaboration with Golf Saudi can strengthen women’s golf globally.

Kessler reported overwhelming player support during discussions of the partnership. Many players asked what took so long. The commissioner stated the support from the LPGA and LET boards blew him away.

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Saudi investment in golf shows massive gender disparity

The numbers tell a stark story about Saudi Arabia’s golf investments. The Public Investment Fund has poured nearly $5 billion into LIV Golf as of May 2025. That investment continues despite operating losses of $394 million in 2023 alone. The women’s side presents a different picture. Saudi investment in women’s golf through the LET and PIF Global Series amounts to an estimated $13-15 million annually. The ratio reveals that Saudi investment in men’s golf is roughly 300-400 times higher than in women’s golf.

The LET partnership with Golf Saudi began in 2020 during the COVID-19 pandemic. That relationship is credited with saving the European tour from financial crisis. Prize money grew from €18 million in 2020 to approximately €39 million in 2024. This LPGA partnership marks the first time a U.S.-based major tour has directly partnered with Golf Saudi. The arrangement differs from LIV Golf’s competitive league model. The Aramco Championship integrates into existing tour structures through co-sanctioning.

PGA Tour negotiations with PIF remain stalled as of November 2025. The tour rejected a $1.5 billion PIF investment offer in April 2025. That deal would have allowed LIV Golf to continue operating. The LPGA chose a different path while the men’s game stays fractured.

Duffy’s wait-and-see approach reflects his conflicted position. He extended CME’s partnership despite reservations. The Las Vegas event will test whether his concerns prove warranted.