After a year of division, LIV Golf, the PGA Tour, and DP World Tour have reached a historic agreement. The merger was announced by the PGA Tour, DP World Tour, and LIV Golf, which is supported by the Saudi Public Investment Fund. In a press release, it was revealed that the three parties have joined forces to “unify the game of golf on a global scale.” They have signed an agreement that combines their golf-related commercial businesses and rights into a collectively owned, for-profit entity.
PGA Tour commissioner Jay Monahan expressed his excitement about the partnership, stating that it marks a historic day for the beloved game of golf. He emphasized the strength of the PGA Tour’s history, legacy, and pro-competitive model, which will now be combined with the DP World Tour and LIV Golf, including the team golf concept. The new organization aims to benefit players, commercial and charitable partners, and fans, ensuring a promising future for golf.
Monahan also praised the world-class investing experience of LIV and the Saudi Public Investment Fund, particularly acknowledging the vision and collaborative approach of PIF Governor Yasir Al-Rumayyan. He emphasized that the partnership not only resolves the rift in the game but also elevates it to new heights, ushering in a new era in global golf.
Crucially, the announcement brings an end to all litigation between the participating parties, as mutually agreed. Furthermore, the agreement allows LIV Golf players to return to either the PGA Tour or DP World Tour through a fair and objective process at the end of the 2023 season.
The new entity’s name is yet to be determined, and the PIF will make a capital investment to facilitate its growth and success.
DP World Tour CEO Keith Pelley expressed his excitement about the collaboration, describing it as a momentous day. He expressed delight in reigniting the relationship with PIF and building upon their existing Strategic Alliance partnership with the PGA Tour. Pelley believes that together, they will be stronger than ever, continuing to promote the game of golf worldwide.
PIF Governor Yasir Al-Rumayyan also expressed enthusiasm, describing the day as exciting for golf and its global community. He highlighted PIF’s success and track record of unlocking value and bringing innovation and global best practices to various sectors. Al-Rumayyan emphasized their commitment to unifying, promoting, and growing golf worldwide, catering to the long-time fans while cultivating new ones.
The announcement is expected to shake up the world of golf, considering the previous hostility between the PGA Tour, DP World Tour, and LIV Golf. Issues such as the eligibility of LIV Golf players for the Ryder Cup have fueled ongoing conflicts. However, this agreement marks a dramatic and potentially decisive turn of events.
The finalization of the agreement will occur in the following months, with further details to be announced in due course.
