CONFIRMED: PGA Tour Announces It Is Merging with Saudi-Backed Rival LIV Golf
Out of nowhere on Tuesday morning, the PGA Tour dropped a bombshell by announcing a merger with rival organization LIV
Out of nowhere on Tuesday morning, the PGA Tour dropped a bombshell by announcing a merger with rival organization LIV Golf to form a commercial golf entity.
The two groups have been engaged in months of legal battles over antitrust claims, but now they are putting a stop to the litigation and moving forward as a unified front.
A joint statement released by the parties states that the new venture would “implement a plan to grow these combined commercial businesses, drive greater fan engagement and accelerate growth initiatives already underway.”
PGA Tour commissioner Jay Monahan also chimed in with his thoughts during a phone conversation with the Associated Press, exclaiming, “[LIV was] going down their path, we were going down ours, and after a lot of introspection you realize all this tension in the game is not a good thing.”
LIV Golf is backed by billions of dollars from Saudi Arabia’s Public Investment Fund (PIF). They created significant controversy last year by coming on the scene and luring some of the sport’s most notable players away from the PGA with hundreds of millions of dollars in guaranteed money.
Reportedly, the PIF funding will still be a part of the new agreement, which is ironic after the PGA Tour initially stated that LIV was compromising the sport’s integrity by taking money from a country with a less-than-stellar human rights record.
There are still plenty of details to figure out and some extreme reactions to be had, as PGA Tour players apparently had no idea this partnership was coming.
This story was originally reported by our sister company FACTZ.com.