{"id":68837,"date":"2023-06-06T10:16:03","date_gmt":"2023-06-06T14:16:03","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/pga-tour-announces-landmark-merger-with-saudi-backed-liv-golf-68837"},"modified":"2023-06-06T10:16:03","modified_gmt":"2023-06-06T14:16:03","slug":"pga-tour-announces-landmark-merger-with-saudi-backed-liv-golf","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/pga-tour-announces-landmark-merger-with-saudi-backed-liv-golf-68837","title":{"rendered":"PGA Tour announces landmark merger with Saudi-backed LIV Golf"},"content":{"rendered":"
\n

Less than a year after PGA Tour commissioner Jay Monahan<\/u><\/a> said that any potential truce with the rival Saudi-backed LIV Golf circuit was “off the table,” a landmark merger between the two entities has been formed.\u00a0<\/p>\n

The PGA Tour released a statement Tuesday confirming that the Tour, Saudi Public Investment Fund (PIF), and the DP World reached an agreement with a goal to “\u200b\u200bunify the game of golf, on a global basis.”<\/p>\n

“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 press release.\u00a0<\/p>\n

JACK NICKLAUS TAKES SWING AT LIV GOLFERS: ‘I DON\u2019T EVEN CONSIDER THOSE GUYS PART OF THE GAME ANYMORE’<\/u><\/strong><\/a><\/p>\n

“This transformational partnership recognizes the immeasurable strength of the PGA TOUR\u2019s history, legacy and pro-competitive model and combines with it the DP World Tour and LIV \u2013 including the team golf concept \u2013 to create an organization that will benefit golf\u2019s players, commercial and charitable partners and fans.”<\/p>\n

He continued: “Going forward, fans can be confident that we will, collectively, deliver on the promise we\u2019ve always made \u2013 to promote competition of the best in professional golf and that we are committed to securing and driving the game\u2019s future.<\/p>\n

CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM<\/u><\/strong><\/a><\/p>\n

The new agreement will merge the PIF\u2019s golf-related businesses, which include LIV Golf, with that of the PGA Tour and the DP World Tour into a “\u200b\u200bnew, collectively owned, for-profit entity to ensure that all stakeholders benefit from a model that delivers maximum excitement and competition among the game\u2019s best players.”\u00a0<\/p>\n

The Saudi Public Investment Fund will also make a “capital investment” into the newly established entity, as part of the agreement.\u00a0<\/p>\n

Another major point of the deal is that the agreement will end all pending litigation between the three circuits and will allow for those players that left their respective tours to re-apply for membership following the 2023 season.<\/p>\n

“We are pleased to move forward, in step with LIV and PIF\u2019s world-class investing experience, and I applaud PIF Governor Yasir Al-Rumayyan for his vision and collaborative and forward-thinking approach that is not just a solution to the rift in our game, but also a commitment to taking it to new heights,” Monahan added.\u00a0<\/p>\n

“This will engender a new era in global golf, for the better.”\u00a0<\/p>\n

\u00a0<\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/sports\/pga-tour-announces-landmark-merger-with-saudi-backed-liv-golf <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Less than a year after PGA Tour commissioner Jay Monahan said that any potential truce with the rival Saudi-backed LIV Golf circuit was “off the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[16563],"tags":[],"stock_ticker":[],"class_list":["post-68837","post","type-post","status-publish","format-standard","hentry","category-market-news","entry"],"acf":[],"yoast_head":"\nPGA Tour announces landmark merger with Saudi-backed LIV Golf - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/pga-tour-announces-landmark-merger-with-saudi-backed-liv-golf-68837\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PGA Tour announces landmark merger with Saudi-backed LIV Golf - 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