After over a year of division, the PGA Tour, DP World Tour and LIV Golf, via the Saudi Public Investment Fund that bankrolls it, have announced a historic merger, it has been announced.
In a press release, it has been revealed the three parties have come together to “unify the game of golf, on a global basis”.
The three organisations have signed an agreement that combines the golf-related commercial businesses and rights of the PIF, PGA Tour and DP World Tour into a collectively owned, for-profit entity.
On the news, PGA Tour commissioner Jay Monahan said: “After two years of disruption and distraction, this is a historic day for the game we all know and love. 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.
"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.
He 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.”
Crucially, the announcement will be followed by a mutually agreed end to all litigation between the participating parties. Meanwhile, the agreement also leaves the door open to LIV Golf players who wish to return to either to the PGA Tour or DP World Tour to do so via "a fair and objective process" at the end of the 2023 season
Additionally, the PIF will also make a capital investment into the new entity, whose name is to be determined, "to facilitate its growth and success."
DP World Tour CEO Keith Pelley said: “This is a momentous day. We are delighted to be able to not only reignite our relationship with PIF, but also to have the opportunity to build on our current Strategic Alliance partnership with the PGA Tour. Together we will be stronger than ever and well positioned to continue to bring the game to all corners of the globe. To partner in this new entity and influence the growth of the game for all our DP World Tour members is energizing and exciting.”
PIF Governer Yasir Al-Rumayyan said: “Today is a very exciting day for this special game and the people it touches around the world. We are proud to partner with the PGA Tour to leverage PIF’s unparalleled success and track record of unlocking value and bringing innovation and global best practices to business and sectors worldwide. 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."
The news is sure to send shockwaves throughout the world of golf after an unprecedented period which had seen the PGA Tour and DP World Tour meet the emergence of LIV Golf with hostility.
With long-running issues that have emerged from that, including the eligibility of LIV Golf players for the Ryder Cup at Marco Simone Golf and Country Club, the saga has now taken a dramatic and potentially decisive twist.
The agreement will be finalised in the coming months with a further announcement in due course.
