Tuesday marked the conclusion of a highly disruptive year for the sport of golf as the PGA Tour and European Tour reached an agreement to merge with Saudi Arabia’s golf interests. This merger aims to establish a unified global platform for professional golf.
As a part of the deal, all ongoing lawsuits between the parties involved, including LIV Golf, have been dropped with immediate effect.
However, there are still uncertainties regarding the future of players like Brooks Koepka and Dustin Johnson, who joined the Saudi-funded LIV Golf for substantial financial incentives. The process of their potential return to the PGA Tour after this year remains to be determined.
Additionally, the specific format of the LIV Golf League in 2024 has yet to be clarified. PGA Tour Commissioner Jay Monahan stated in a memo to players that a comprehensive evaluation will determine how team golf can be integrated into the sport.
Under this agreement, the commercial businesses and rights related to golf, including LIV Golf, owned by Saudi Arabia’s Public Investment Fund, will be combined with those of the PGA and European Tours. The newly formed entity, as of now, has not been named.
In a phone interview with The Associated Press, Monahan emphasized the need to address the existing tensions within the sport. He stated, “We have a responsibility to our tour and to the game, and we felt like the time was right to have that conversation.”
Yasir Al-Rumayyan, the governor of Saudi Arabia’s sovereign wealth fund, will join the board of the PGA Tour, which will continue to organize its tournaments. Al-Rumayyan will serve as the chairman of the new commercial group, with Monahan as the CEO, and the PGA Tour will hold a majority stake in the newly established venture.
According to Monahan, the decision to merge came together over the course of the past seven weeks.No tags for this post.