In a shocking turn of events, the PGA Tour (PGAT) recently announced that it would merge with LIV Golf. The golf leagues have been involved in a two-year-long feud
The merger will lead to the golf leagues forming one unified commercial entity and bring an end to the bitter feud between the the PGA Tour, the DP World (European) Tour and the Saudi-backed breakaway LIV Golf League, floated by Australian golf legend Greg Norman, as per BT Golf Editor Rahul Banerji
“What helped the “rebels” over this period was the solid backing of Saudi Arabia’s Public Investment Fund (PIF) that underwrote a movement that equally split professional golf as well as brought in a raft of benefits for members of the PGAT in terms of bigger purses and limited schedules,” wrote Rahul Banerji
“The agreement combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA Tour and DP World Tour into a new, collectively owned, for-profit entity to ensure that all stakeholders benefit from a model that delivers maximum excitement and competition among the game’s best players,” as per an official statement
In addition, PIF will make a capital investment into the new entity to facilitate its growth and success. The new entity will implement a plan to grow these combined commercial businesses, drive greater fan engagement and accelerate growth initiatives already underway
The new board of directors will include PGAT heads and PIF governor Yasir Al-Rumayyan. Al-Rumayyan will serve as chairman and Jay Monahan as the CEO; and include an executive committee comprising Al-Rumayyan, Monahan, and PGAT board members. The full composition of the new board will be announced later, and it is anticipated that all three founding members will have representation
PIF’s 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.”
Men’s professional golf worldwide is set to be affected with the merger. LIV Golf members will be readmitted to the PGA Tour and the DP World (European) Tour over a period of time as per a pre-decided schedule
A process will be put in place for players seeking a return to the PGAT and DPWT after the 2023 season with appropriate criteria and terms of re-admission. A good number of European players have been fined and suspended and many have even paid up the fines so this promises to be a tricky matter, as also the issue of their status with regard to the Ryder Cup later this year