The PGA Tour has agreed to merge with Saudi-backed competitor LIV Golf in a deal to move ahead as one golf enterprise.
Putting aside their pending litigation, the two sides have signed an agreement to combine their commercial businesses and rights into a new for-profit company. The agreement also covers the DP World Tour or the PGA European Tour.
LIV Golf is backed by the Saudi Arabia Public Investment Fund (PIF), a unit controlled by Saudi Crown Prince Mohammed bin Salman, and has been involved in antitrust lawsuits with the PGA Tour in 2022. The new deal announced on June 6 would end all pending litigation.
The agreement is the second outstanding sports deal in recent months after World Wrestling Entertainment’s merger with Endeavor Group’s UFC. The PGA Tour and LIV Golf deal requires the approval of the PGA Tour policy board, said its Commissioner Jay Monahan in a message to players.
PIF Governor Yasir Al-Rumayyan said in an interview that after the finalization of the merger – expected in a few weeks, the new board will evaluate every proposal that is presented. Al-Rumayyan will serve as the chairman of the board.
