Leaders of the PGA Tour and Saudi-backed LIV Golf spent two years locked in a fight over the future of golf, trading barbs during media interviews that gave way to lawsuits.The PGA Tour, DP World Tour and Saudi Arabia’s Public Investment Fund, which operates LIV Golf, reached an agreement that combines PIF’s golf-related commercial businesses and rights with the commercial businesses and rights of the PGA Tour and DP World Tour into a new, collectively owned, for-profit entity.
“After two years of disruption and distraction, this is a historic day for the game we all know and love,” PGA Tour Commissioner Jay Monahan said in a news release. “This transformational partnership recognizes the immeasurable strength of the PGA Tour’s history, legacy and pro-competitive model and combines with it the DP World Tour and LIV — including the team golf concept — to create an organization that will benefit golf’s players, commercial and charitable partners and fans.
The agreement, which also encompasses the DP World Tour (also known as the European Tour), will result in a new, collectively owned, for-profit entity. More:
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