RIYADH: The PGA Tour, European Tour and rival Saudi-backed LIV Golf circuit have announced a landmark agreement to merge and form a commercial entity to “unify the game of golf”.
The agreement on Tuesday puts an end to litigation between the legacy tours and LIV that would have gone to court in California next year, and it caps the end of a saga that caused turmoil in the sport for close to two years.
Saudi Arabia’s Public Investment Fund (PIF), which provided LIV with enough money to make star players massive guaranteed offers and pay record tournament purses to lure them away from the PGA Tour, will make a capital investment into the unnamed combined entity as part of the agreement.
