The North American circuit PGA and the European circuit DP World Tour announced on Tuesday in a press release their merger with the dissident circuit LIV Golf, supported by Saudi Arabia, thus putting an end to all the disputes having opposed them.
The PGA Tour said it had “signed an agreement that combines the business activities and rights” of the powerful Saudi sovereign wealth fund (PIF) in golf, including the LIV, “with the business activities and rights of the PGA Tour and DP World. Turn into a new, for-profit, collectively owned entity,” with no financial details disclosed.
Pif boss Yasir Al-Rumayyan will chair the board of the new business entity, whose chief executive will be Jay Monahan, who heads the PGA Tour. “After two years of disruption and distraction, this is a historic day for the game we all know and love,” said Jay Monahan, who had been on the forefront in the fight against LIV since its official launch in June. 2022. The creation of this dissident circuit which shook world golf is part of the vast global offensive carried out by Saudi Arabia in sport, under the aegis of Crown Prince Mohamed Bin Salman.
And this merger comes as a huge surprise as the PGA and LIV were engaged in a tussle both on the legal side and on the sums offered to attract the most prestigious stars of the game. “This new partnership recognizes the strength immeasurable part of the PGA Tour’s history, heritage and pro competitive model and combines it with the DP World Tour and LIV – including the concept of team golf – to create an organization that will benefit golf players, business partners and charities and fans, ”assured Jay Monahan.
“We are happy to move forward, in line with LIV and the world-class investment experience of PIF, and I applaud PIF Governor Yasir Al-Rumayyan for his vision and approach. collaborative and forward-thinking that is not only a solution to the discord in our game, but also a commitment to take it to new heights,” added the 53-year-old American. And to continue: “This will usher in a new era in world golf, for the better. »
“Today is a very exciting day for this special game, and the people it touches around the world,” said Yasir Al-Rumayyan, quoted in the press release. “We are committed to unifying, promoting and growing the game of golf around the world and to delivering the highest quality product to millions of long-time fans around the world, while cultivating new fans,” said the Saudi, who is also non-executive chairman of Newcastle Football Club.
