BREAKING: PGA Tour Agrees to Merge with LIV Golf
In an absolutely stunning announcement, the PGA Tour has agreed to merge with LIV Golf.
The deal would end all pending litigation between the two tours.
“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 organization that will benefit golf’s players, commercial and charitable partners and fans,” said PGA Tour Commissioner Jay Monahan.
The DP World Tour will also be part of the merger, according to the press release.
“This is a momentous day. We are delighted to be able to not only reignite our relationship with PIF, but also to have the opportunity to build on our current Strategic Alliance partnership with the PGA TOUR. Together we will be stronger than ever and well positioned to continue to bring the game to all corners of the globe. To partner in this new entity and influence the growth of the game for all our DP World Tour members is energizing and exciting,” said DP World Tour Chief Executive Keith Pelley.
Terms of the agreement will be finalized in the coming months and more details will be announced after that.
What we Know
According to the press release, the Board of Directors for the new entity will work to “ensure a cohesive schedule of events that will be exciting of fans, sponsors and all stakeholders.”
The Saudi Public Investment Fund (PIF) will initially be the exclusive investor in the new entity, alongside the PGA Tour, LIV Golf and the DP World Tour.
The PGA Tour will appoint a majority of the Board and hold a majority voting interest in the entity.
According to reports, the Board of Directors for the new entity will include Al-Rumayyan as Chairman and Monahan as Chief Executive Officer; the new entity’s Board will also include an Executive Committee comprising Al-Rumayyan, Monahan, Herlihy and PGA TOUR Policy Board member Jimmy Dunne.