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The PGA Tour-LIV Golf-DP World Tour Merger: A Historic Day for Golf
Out of nowhere came Tuesday’s announcement that shook up the world of golf. The bitter rivals of professional golf have joined forces creating a new commercial entity to unify the game under one umbrella. The US-based PGA tour has merged with breakaway LIV Golf along with DP World Tour in an effort to bring unity to the sport after a period of division.
The new partnership unifies commercial businesses and rights under a yet-to-be-named for-profit company. Although it’s not clear what this means for the future of golf, some important stakeholders are trying to bring together all aspects they believe will improve growth and success in their sport.
A spokesperson for PGA is keen on pointing out that it is not viewed as a merger but rather seen as “a partnership/creation of a new commercial entity.” This move aims at ending almost two years’ worth legal disputes between organizations and their participants.
New Entity Structure
The governor of Saudi Arabia’s Public Investment Fund (PIF), Yasir Al-Rumayyan, said he expected approval from PIF within weeks finalizing capital investment necessary which would facilitate growth & success while ensuring stability through this venture. Al-Rumayyan will be named to the board of the new entity as chairman, with Jay Monahan named as CEO. The merger would end almost two years worth legal disputes between organizations and their participants. This historic event is expected to bring stability and growth within golf’s commercial business.
The Future of Golf
PGA Tour commissioner Jay Monahan confirmed that golf’s calendar for 2023 would remain unchanged while also confirming that LIV Golf’s format team element would continue in some capacity. Players wanting to apply for PGA Tour or DP World Tour membership after the 2023 season can do so through a fair and objective process established by PGA officials. This move indicates there may be more changes coming in professional golf in the future, but it remains uncertain what they are at this stage.
A Historic Day for Golf
This announcement promised a “capital investment” from PIF – Saudi Arabia’s sovereign wealth fund which has splashed billions of dollars on investments both at home and overseas – to facilitate the growth and success of this new entity. After two years’ worth disruption & distraction, Monday’s merger marks a historic day for all who know and love this sport.