The three major golf tours have reached an agreement. The PGA Tour, the DP World Tour and LIV Golf, the latter being managed by the Public Investment Fund (PIF) of Saudi Arabia, have agreed to unify professional golf and put an end to their conflicts, legal and otherwise. The new name of the tour has yet to be determined.
In a statement, the PGA Tour assured that this agreement entails commercial benefits for all three entities, as it will "drive greater fan engagement and accelerate growth initiatives already underway." Jay Monahan, commissioner of the PGA Tour, explained the reasons for the deal:
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.
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.
"This partnership represents the best opportunity to extend and increase the impact of golf for all"
Saudi IFP Governor Yasir Al Rumayyan followed Monahan's lead:
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.
There is no question that the LIV model has been positively transformative for golf. We believe there are opportunities for the game to evolve while also maintaining its storied history and tradition. This partnership represents the best opportunity to extend and increase the impact of golf for all. We look forward to collaborating with Jay and Keith to bring the best version of the game to communities around the world.
Keith Pelley, executive director of the DP World Tour, added to the statements of his counterparts:
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.
What changes are coming?
The Board of Directors of the new tour will oversee and direct all economic aspects related to golf, including: commercial operations, business and investments. All lawsuits filed between the entities will also be withdrawn.
The FIP, the PGA TOUR, LIV Golf and the DP World Tour will be the main investors in the new circuit. The FIP retains a right of first refusal over any other investor wishing to enter the entity, in addition to having an exclusive right to invest further. The PGA Tour will appoint the majority of the Board of Directors.
