In a bombshell development thatโs sure to leave jaws on the ground and eyes rolled, the PGA Tour has agreed to merge with Saudi-backed โrebel leagueโ LIV Golf, punctuating an ugly two-year stoush which drew a line in the sportโs sand.
According to CNBC, the rival entities have signed an agreement to combine both their commercial businesses and rights, forming a larger yet-to-be-named company a la WWE x UFC. This company will also absorb the DP World Tour (otherwise known as the PGA European Tour).
Aside from ending the competition for viewership and talent, as you will have already gathered, this deal also ends all pending litigation, including the antitrust lawsuit filed by LIV Golf lawyers against the PGA Tour.
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โAfter two years of disruption and distraction, this is a historic day for the game we all know and love,โ PGA Tour commissioner Jay Monahan expressed in the official statement.
โThis transformational partnership recognizes the immeasurable strength of the PGA Tourโs history, legacy, and pro-competitive model and combines with it the DP World Tour and LIV โ including the team golf concept โ to create an organization that will benefit golfโs players, commercial, and charitable partners and fans.โ
Monahan added: โGoing forward, fans can be confident that we will, collectively, deliver on the promise weโve always made โ to promote competition of the best in professional golf and that we are committed to securing and driving the gameโs future.โ
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๐จ๐จ๐จ Breaking.
โ Monday Q Info (@acaseofthegolf1) June 6, 2023
The letter sent to players just now from Jay. Holy cow. pic.twitter.com/12A4X8nCTX
What makes this entire ordeal even spicier is the fact that neither the entitiesโ biggest players โ i.e. Tiger Woods, Rory McIlroy, Phil Mickelson, Dustin Johnson, Brooks Koepka, Australiaโs own Cam Smith โ nor LIV Golf CEO Greg โThe Sharkโ Norman himself had any knowledge of the merger prior to its announcement.
Yasir Al-Rumayyan, governor of the Saudi Public Investment Fund who will serve as chairman of the new megatour, revealed to CNBC that heโd only phoned Norman for the heads up right before his television appearance.
โHe is aware. I made a call just before this,โ said Al-Rumayyan (via Fox Sports).
โOf course, heโs a partner with us. All the stakeholders with us had a call right before this interview.โ
Al-Rumayyan noted the specifics are still being negotiated with the current goal of reaching a final agreement โwithin weeksโ; something that likely wonโt prove difficult considering the PIF is prepared to throw โbillionsโ at the collaborative venture.
Play it as it lies, I suppose.
