PGA and Saudi-backed LIV Golf agree to shocking merger
Leaders of the PGA Tour and Saudi-backed LIV Golf spent two years locked in a fight over the future of golf, trading barbs during media interviews that gave way to lawsuits.
On Tuesday, the rival groups announced a shocking merger.
The PGA Tour, DP World Tour and the Public Investment Fund, which operates LIV Golf, reached an agreement that combines PIF’s golf-related commercial businesses and rights with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, collectively owned, for-profit entity. The newly formed group’s name will be announced at a later date.
“After two years of disruption and distraction, this is a historic day for the game we all know and love,” PGA Tour Commissioner Jay Monahan said in a news release. “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.”
This is a developing news story. Check back soon for updates.
Leaders of the PGA Tour and Saudi-backed LIV Golf spent two years locked in a fight over the future of golf, trading barbs during media interviews that gave way to lawsuits.
On Tuesday, the rival groups announced a shocking merger.
The PGA Tour, DP World Tour and the Public Investment Fund, which operates LIV Golf, reached an agreement that combines PIF’s golf-related commercial businesses and rights with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, collectively owned, for-profit entity. The newly formed group’s name will be announced at a later date.
“After two years of disruption and distraction, this is a historic day for the game we all know and love,” PGA Tour Commissioner Jay Monahan said in a news release. “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.”
This is a developing news story. Check back soon for updates.
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