The most tumultuous season in modern golf history came to a close on Tuesday when the PGA Tour and its European branch reached an agreement to merge with the Saudi-backed LIV Tour to create a new entity intended to unify men’s professional golf on the planet.
Under this agreement, the parties drop all legal actions between them immediately.
It remains unclear how marquee golfers such as Brooks Koepka and Dustin Johnson, who chose to join the LIV Tour in exchange for nine-figure bonuses, will be able to return to the PGA Tour beginning in 2024.
We also do not know what will happen to the LIV circuit from next year. Commissioner Jay Monahan said in a memo to golfers that further analysis will determine how team competitions can be incorporated into the PGA.
This announcement comes a year after the launch of the LIV circuit. Monahan was at the RBC Canadian Open at the time and said in the event that a player joins the LIV Tour or is considering doing so, “Have you ever had to apologize for being a PGA Tour member? »
Well, they are now partners, which means Saudi Arabia will now have a say in the future of the world’s largest professional golf organization.
“They were charting their course, and we were charting our course, and after a long reflection we understood that all these tensions are not beneficial for the development of our sport,” Monahan said in a telephone interview with The Associated Press.
“We have responsibilities to our circuit and our sport, and we felt like it was about time we had this discussion,” he continued.
Golfers were furious to learn of the merger on social media. Wesley Bryan tweeted: “I feel betrayed, and I won’t be able to trust anyone within the PGA Tour administrative structure for quite a while.”
A media outlet ignored the embargo surrounding the announcement and published the information about 30 minutes before the scheduled time – even before some golfers had received the famous note from Monahan.
This pact combines the rights and commercial agreements emanating from the Saudi Arabian Public Investment Fund (PIF) – which supports the LIV circuit – with those of the PGA and its European branches. The new entity has no name yet.
Yasir Al-Rumayyan, the director of the PIF, will join the PGA Tour’s board of directors, which will continue to operate its tournaments. Al-Rumayyan will be the chairman of the new business group, while Monahan will be the chairman and chief operating officer. The PGA Tour, meanwhile, will be the largest shareholder in the new business entity.
And the PIF will invest in it.
“From the start, the initiative aimed to develop golf on the planet,” said Al-Rumayyan. And I believe we achieved our goal today. »
As for Greg Norman’s new role, Al-Rumayyan said he is currently the commissioner of the LIV circuit and details regarding his next role will be announced in the coming weeks.
The note that Monahan sent to the players specifies that there will be a significant Saudi presence. He said the PIF will invest heavily to become “a title sponsor” of the PGA Tour, its European branches and other international tours.
Monahan said the decision was made over the past seven weeks.