PGA Tour, DP World Tour & PIF Announce Merger To Unify Golf

justjared.com:

The PGA and Saudi-backed LIV Golf announced a merger on Tuesday (June 6) which ends a bitter rivalry and numerous antitrust lawsuits.

The new entity, whose name is yet to be determined, will implement a plan to grow these combined commercial businesses and unify golf across the world. “After two years of disruption and distraction, this is a historic day for the game we all know and love,” said PGA TOUR Commissioner Jay Monahan in a statement.Keep reading to find out more… LIV Golf is backed by the Saudi Arabia Public Investment Fund, an entity controlled by the Saudi crown prince.

The agreement includes DP World Tour, also known as the European PGA Tour. PIF will invest invest billions of new capital into the new entity. “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,” Monahan continued in the statement. “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.” A Board of Directors of the new entity will oversee and direct all the new entity’s golf-related commercial operations, businesses and investments.

Netflix’s immersive 2023 documentary series Full Swing followed a diverse group of professional golfers — on and off the course — during a relentless season of competition.