Plans for a merger between the LPGA Tour and Ladies European Tour were shelved last year after Golf Saudi - which has poured a significant amount of money into the latter - asked for further information on the terms of any deal before locking in its funding for the 2024 season, according to Golfweek and The Telegraph.
On November 21, 2023, LET members met at the Andalucía Costa del Sol Open ready to vote on a potential marriage with the LPGA - a deal which had been months in the making and could potentially breathe new life into a circuit which has previously been labelled as "beleaguered." Yet, the vote was adjourned by the LET board at the last minute without explanation.
However, in a letter published to the players by LPGA commissioner Mollie Marcoux Samaan recently obtained by Golfweek, it emerged that Golf Saudi - a division of the country's Public Investment Fund - wanted to know how a successful merger might look before "finalising their commitment to the events" on the LET's 2024 schedule.
The PIF partially owns Aramco - the state-owned petroleum and natural gas company which sponsors seven LET events with a combined $11 million prize purse. Should both parties have walked away following a positive vote towards a merger, the European-based circuit were likely to have been in serious financial trouble.
Not wanting to lose the source of almost a third of its total prize money across the entire season, the LET was forced to abandon merger plans with top tier of women's professional golf - regardless of any potential benefits it might see.
In the letter from Marcoux Samaan explaining the reasons for the vote being indefinitely postponed, she said: “As a significant partner of the LET, Golf Saudi wanted to ensure that they fully understood any risks, implications, and opportunities for the Aramco Saudi Ladies International and Aramco Team Series before finalizing their commitment to the events in 2024."
The letter went on to insist that the LET's relationship with Golf Saudi remains "constructive and collaborative" and confirmed that the Aramco Saudi Ladies International - plus the six $1 million Aramco Team Series events - will still take place this season.
“The LET and LPGA boards have agreed to focus on maximising our joint venture rather than pursue the merger at this time,” the letter continued. The pair's joint-venture was agreed in November 2019 under the tenure of Mike Whan and still has two years remaining.
Meanwhile, in the men's professional game, talks are continuing over a merger deal between the PGA Tour, the DP World Tour, and the PIF.
