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