PGA Tour announces “historic” agreement to merge with Saudi-backed rival LIV Golf

The PGA TOUR, DP World Tour and the Public Investment Fund (PIF) today announced a “landmark” agreement to unify the game of golf, on a global basis.

The parties have signed an agreement that combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, collectively owned, for-profit entity to ensure that all stakeholders benefit from a model that delivers “maximum excitement and competition among the game’s best players”.

In addition, PIF will make a capital investment into the new entity to facilitate its growth and success. The new entity (name TBD) will implement a plan to grow these combined commercial businesses, drive greater fan engagement and accelerate growth initiatives already underway.

With LIV Golf in the midst of its second “groundbreaking” season, the PGA TOUR, DP World Tour and PIF will work together to best feature and grow team golf going forward. Notably, today’s announcement will be followed by a mutually agreed end to all pending litigation between the participating parties.

Furthermore, the three organisations will work cooperatively and in good faith to establish a “fair and objective” process for any players who desire to re-apply for membership with the PGA TOUR or the DP World Tour following the completion of the 2023 season and for determining fair criteria and terms of re-admission, consistent with each Tour’s policies.

PGA TOUR commissioner Jay Monahan commented: “After two years of disruption and distraction, this is a historic day for the game we all know and love.

“This transformational partnership recognizes the immeasurable strength of the PGA TOUR’s history, legacy and pro-competitive model and combines with it the DP World Tour and LIV, including the team golf concept, to create an organisation that will benefit golf’s players, commercial and charitable partners and fans.

“Going forward, fans can be confident that we will, collectively, deliver on the promise we’ve always made, to promote competition of the best in professional golf and that we are committed to securing and driving the game’s future.

“We are pleased to move forward, in step with LIV and PIF’s world-class investing experience, and I applaud PIF Governor Yasir Al-Rumayyan for his vision and collaborative and forward-thinking approach that is not just a solution to the rift in our game, but also a commitment to taking it to new heights. This will engender a new era in global golf, for the better.”

By Matthew Neville – Senior Correspondent, Bdaily

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