In a noteworthy collaboration that has reverberated across the golfing community, the DP World Tour, PGA Tour, and the Saudi-backed LIV Golf have come together, creating an unprecedented global golf entity that marks a significant turning point for the sport.
Amidst widespread anticipation, Europe’s DP World Tour and US-based PGA Tour surprised the golfing community on Tuesday (6/6/23) as they revealed the resolution of their two-year dispute with the Saudi backers of LIV. This announcement marked a significant milestone, as it led to the establishment of an innovative, jointly owned, for-profit organization that promises to redefine the future of golf.
Expressing his utmost enthusiasm, Jay Monahan, the Commissioner of the PGA Tour, conveyed his excitement by stating, “Following two years of turmoil and diversion, today stands as a monumental day for the cherished game we all hold dear.”
In a collective announcement, the organizations unveiled their plans to establish a streamlined process that will facilitate the reapplication of LIV Golf players for membership on both the PGA Tour and DP World Tour after the peak of the 2023 season. This announcement highlights their strong dedication to inclusivity and collaboration, ensuring a smooth transition and reaffirming their commitment to all players involved.
Although information regarding the name and precise framework of the recently merged entity is yet to be disclosed, it has been officially confirmed that Yasir al-Rumayyan, the esteemed governor of Saudi Arabia’s Public Investment Fund (PIF), will take on the role of Board Chairman for the newly formed organization. Meanwhile, Jay Monahan, the CEO of the PGA Tour, will maintain his crucial position as the Chief Executive Officer, ensuring continuity and leadership within the entity.
Moreover, this historic merger also encompasses a mutual agreement to resolve all existing litigation among the parties involved, solidifying a newfound spirit of collaboration and unity.
The Public Investment Fund (PIF) has committed a significant capital investment into the newly established entity, establishing a solid foundation for its expansion and guaranteeing its initial exclusivity as an investor.
Each of the three tours will continue to hold responsibility for the “inside-the-ropes” operations of their individual tournaments. This includes crucial aspects such as site selection, tournament operations, rules enforcement, and other related matters.
The golfing landscape is poised for an extraordinary transformation, as the amalgamation of these influential entities promises to redefine the future of the sport, elevate its global reach, and foster unparalleled opportunities for players, fans, and stakeholders alike.