PGA Tour Announces, Surprise Partnership With, Rival Golf Tours.
CNN reports that the PGA Tour is poised to partner with LIV Golf, bringing an end to a feud that has impacted the sport for the past year.
On June 6, the PGA Tour made the surprising announcement, stating that the partnership was meant to "unify the game of golf.".
On June 6, the PGA Tour made the surprising announcement, stating that the partnership was meant to "unify the game of golf.".
The parties have signed an agreement that combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA Tour and DP World Tour into a new, collectively owned, for-profit entity, PGA Tour announcement, via CNN Sports.
The parties have signed an agreement that combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA Tour and DP World Tour into a new, collectively owned, for-profit entity, PGA Tour announcement, via CNN Sports.
According to a spokesperson for the PGA Tour, the new relationship is not a merger, rather , “a partnership/creation of a new commercial entity.”.
In June of 2022, the LIV Golf series launched with the support of Saudi Arabia's Public Investment Fund (PIF).
.
However, players who participated in the LIV Golf series were subsequently banned from competing in PGA events.
CNN reports that the PIF is a sovereign wealth fund headed by the Crown Prince of Saudi Arabia, Mohammed bin Salman.
CNN reports that the PIF is a sovereign wealth fund headed by the Crown Prince of Saudi Arabia, Mohammed bin Salman.
Since the launch of the LIV Golf series, the two rival tours have taken part in a number of legal battles.
Since the launch of the LIV Golf series, the two rival tours have taken part in a number of legal battles.
CNN reports that the new partnership would mutually bring those pending cases to a close.
Together we will be stronger than ever and well positioned to continue to bring the game to all corners of the globe.
To partner in this new entity and influence the growth of the game for all our DP World Tour members is energizing and exciting, Keith Pelley, Chief Executive of the DP World Tour, , via CNN Sports.
Together we will be stronger than ever and well positioned to continue to bring the game to all corners of the globe.
To partner in this new entity and influence the growth of the game for all our DP World Tour members is energizing and exciting, Keith Pelley, Chief Executive of the DP World Tour, , via CNN Sports
