Golf’s two greatest rivals are merging into one.
The PGA Tour and LIV Golf have agreed to mix their enterprise operations, placing an finish to the stream of litigation between the 2 enterprises and creating a world {golfing} large.
The yet-to-be-named firm will carry collectively the PGA and its Saudi-backed rival. The Saudi Arabia Public Funding Fund will make investments billions into the brand new firm, CNBC reported.
“After two years of disruption and distraction, this can be a historic day for the sport everyone knows and love,” stated PGA TOUR Commissioner Jay Monahan in a statement. “Going ahead, followers could be assured that we are going to, collectively, ship on the promise we’ve all the time made – to advertise competitors of one of the best in skilled golf and that we’re dedicated to securing and driving the sport’s future”
The PGA Tour will appoint the vast majority of the board of administrators of the brand new group and can maintain a majority voting curiosity within the firm.