The PGA TOUR, DP World Tour, and PIF have joined forces to create a unified global golf entity, promising maximum excitement, growth, and a brighter future for the sport.
The world of golf is set to undergo a major transformation as the PGA TOUR, DP World Tour, and the Public Investment Fund (PIF) have announced a groundbreaking agreement to unify the sport on a global scale. This landmark deal combines the golf-related commercial businesses and rights of PIF, including LIV Golf, with those of the PGA TOUR and DP World Tour. The result is a new for-profit entity that aims to maximize excitement and competition among the world’s top golfers while benefiting all stakeholders involved. Notably, this agreement will also put an end to pending litigation between the parties involved.
PGA TOUR Commissioner Jay Monahan expressed his enthusiasm about the partnership, stating, “After two years of disruption and distraction, this is a historic day for the game we all know and love.” He emphasized the significance of this collaboration, which recognizes the strength of the PGA TOUR’s history and competitive model, while incorporating the team golf concept of LIV Golf. Monahan assured fans that the new organization is committed to promoting competition and securing the future of the game.
Governor Yasir Al-Rumayyan of PIF shared his excitement, stating, “Today is a very exciting day for this special game and the people it touches around the world.” He highlighted PIF’s commitment to unifying and growing golf globally, offering the highest-quality product to long-time fans and cultivating new ones. Al-Rumayyan acknowledged the transformative impact of the LIV Golf model and expressed confidence in the partnership’s ability to extend and enhance the game’s reach and impact.
Under the terms of the agreement, a Board of Directors will oversee the new entity’s golf-related commercial operations, investments, and businesses. The goal is to create a cohesive schedule of events that will captivate fans, sponsors, and all stakeholders involved. PIF will initially be the exclusive investor in the new entity, alongside the PGA TOUR, LIV Golf, and the DP World Tour. Furthermore, the PGA TOUR will hold a majority voting interest in the combined entity and appoint a majority of the Board.
The existing PGA TOUR Inc. will continue to operate as a tax-exempt organization and retain administrative oversight of events. PGA TOUR Commissioner Jay Monahan will remain in his role, supported by Ed Herlihy as PGA TOUR Policy Board Chairman. Governor Yasir Al-Rumayyan of PIF will join the PGA TOUR Policy Board, ensuring collaborative decision-making. The DP World Tour and LIV Golf will maintain administrative oversight of events on their respective tours as well.
Keith Pelley, Chief Executive of the DP World Tour, expressed his enthusiasm about the agreement, calling it a “momentous day.” He emphasized the opportunity to strengthen their relationship with PIF and build on the existing Strategic Alliance partnership with the PGA TOUR. Pelley believes that together, they will be well-positioned to continue spreading the game of golf worldwide and drive its growth for all members of the DP World Tour.
While the details of the agreement are yet to be finalized, this groundbreaking partnership signifies a new era for golf. With the combined expertise, resources, and global reach of the PGA TOUR, DP World Tour, and PIF, the game is set to reach new heights, captivate audiences, and create a brighter future for professional golf. Golf enthusiasts and stakeholders can anticipate further announcements in the coming months as the terms of the agreement are ironed out.