PGA Tour Agrees to Merge With Saudi-Backed LIV Golf
The PGA Tour has agreed to merge with LIV Golf, the organizations announced today. LIV Golf, backed by the Saudi Arabia Public Investment Fund (PIF), debuted in June 2022 to much controversy. Soon after launch, LIV and PGA filed lawsuits against each other; the merger will end all pending litigation over the sport.
The merger will create "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," a joint statement said. The new entity's name has yet to be announced, and the agreement includes the DP World Tour (also called the European PGA Tour).
"After two years of disruption and distraction, this is a historic day for the game we all know and love," Jay Monahan, the PGA Tour commissioner, said in a statement. "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."
Monahan continued, "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."
Saudi Arabia's PIF Governor Yasir Al-Rumayyan said, "Today is a very exciting day for this special game and the people it touches around the world." He added, "We are committed to unifying, promoting and growing the game of golf around the world and offering the highest-quality product to the many millions of long-time fans globally, while cultivating new fans. There is no question that the LIV model has been positively transformative for golf. We believe there are opportunities for the game to evolve while also maintaining its storied history and tradition. This partnership represents the best opportunity to extend and increase the impact of golf for all."
Per the New York Times, "Monahan is expected to be the new group’s chief executive, with Yasir al-Rumayyan, the wealth fund’s governor, installed as its chairman."
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