End of the conflict: PGA Tour, LIV Golf and DP World Tour settle their differences and unify
The agreement leads to a new professional golf tour that will benefit players, organizers, sponsors and fans. Its name has yet to be determined.
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:
"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:
Keith Pelley, executive director of the DP World Tour, added to the statements of his counterparts:
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 All lawsuits filed between the entities will also be withdrawn.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.