The PGA Tour and DP World Tour expanded and strengthened their strategic alliance into an operational joint venture partnership.
“The more our teams have worked together the more one thing became clear: We are better working together than separately,” PGA Tour Commissioner Jay Monahan said.
The PGA Tour badly needed to keep an ally in the DP World Tour and prevent LIV Golf from sinking its tentacles – and deep pockets – into a circuit with a global footprint.
The PGA Tour dipped into its coffers to increase its stakes in European Tour Productions and guaranteed that prize funds will increase over the next five years. It’s a win for Monahan, who added, “The game of golf is rallying. Our members, partners and fans are rallying. Today’s announcement should serve as further evidence that the ecosystem of professional golf continues to innovate and thrive.”
Here are five things we learned from Monahan and Pelley’s press conference on Tuesday:
