Golf, the PGA Tour and the European Tour merge with professional golf organized by the Saudis – Corriere.it

Golf returns to the old days. The PGA Tour and the European Tour have agreed to merge with the Saudi Arabian-funded LIV Golf professional tournament. The goal is to unify professional golf around the world. As part of the agreement, all parties immediately abandon legal disputes involving the so-called LIV Golf. It remains to be seen whether players who have dropped out of LIV will be able to return next year and what LIV Golf will look like in the future. And if on the contrary the players who have embraced the Saudi-funded LIV Golf in exchange for nine-figure bonuses will be able to rejoin the PGA Tour from next year. It’s also unclear what form the LIV Golf League will take in 2024. PGA Tour commissioner Jay Monahan said in a note to players that a thorough evaluation will determine how to integrate team golf into the game.

The agreement signed today combines the assets and commercial rights of the Saudi Public Investment Fund on professional golf – including LIV Golf – with those of the PGA and the European Tours. The new entity does not yet have a name. What is certain is that Yasir Al-Rumayyan, the governor of Saudi Arabia’s sovereign wealth fund, will join the board of directors of the PGA Tour, which will continue to manage its tournaments. Al-Rumayyan will be the chairman of the new business group, while Jay Monahan will be the chief executive officer. The PGA Tour will have a majority stake in the new venture. The Saudi Investment Fund PIF will invest in the new commercial venture.