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PGA TOUR, DP World Tour, and PIF Unify Golf in Landmark Agreement

In a historic announcement, the PGA TOUR, DP World Tour, and the Public Investment Fund (PIF) have revealed a landmark agreement to unify the game of golf on a global basis. This agreement brings together the golf-related commercial businesses and rights of PIF, including LIV Golf, with the PGA TOUR and DP World Tour’s commercial businesses and rights. The aim is to create a new, collectively owned, for-profit entity that maximizes excitement and competition among the world’s best players while benefiting all stakeholders.

As part of the agreement, PIF will make a capital investment into the newly formed entity to facilitate its growth and success. The entity, which will be named at a later date, will focus on growing the combined commercial businesses, enhancing fan engagement, and accelerating existing growth initiatives. Additionally, the collaboration will prioritize the promotion and growth of team golf, building on the success of LIV Golf’s groundbreaking second season.

This announcement also marks the end of pending litigation between the involved parties. Going forward, they will work cooperatively to establish a fair and objective process for players who wish to re-apply for membership with the PGA TOUR or DP World Tour following the completion of the 2023 season, ensuring a transparent approach aligned with each Tour’s policies.

PGA TOUR Commissioner Jay Monahan expressed his enthusiasm for this transformational partnership, recognizing the strength of the PGA TOUR’s pro-competitive model and combining it with the DP World Tour and LIV Golf. Monahan highlighted the commitment to delivering on the promise of promoting competition among the best in professional golf and securing the future of the game.

Governor Yasir Al-Rumayyan of PIF emphasized the exciting prospects that lie ahead, stating that this partnership represents an opportunity to unify, promote, and grow the game of golf worldwide. Al-Rumayyan praised the positive impact of the LIV model and expressed a commitment to preserving the sport’s history and tradition while fostering its evolution.

Driving Golf’s Future: New Entity’s Board to Oversee Exciting Schedule and Exclusive Investments

Under the agreement, the new entity’s Board of Directors will oversee and direct all golf-related commercial operations, businesses, and investments. A key focus will be developing a cohesive schedule of events that captivates fans, sponsors, and stakeholders alike. In the initial stages, PIF will be the exclusive investor in the new entity, alongside the PGA TOUR, LIV Golf, and the DP World Tour. PIF will also retain the right of first refusal for any future investments, ensuring its ongoing commitment to the sport.

PGA TOUR Inc. will continue to function as a 501(c)(6) tax-exempt organization, providing administrative oversight of events contributed by the PGA TOUR. The DP World Tour and LIV Golf will retain similar administrative oversight of events on their respective Tours. The new entity’s Board of Directors will include Al-Rumayyan as Chairman and Monahan as Chief Executive Officer, along with other representatives from the founding members.

Keith Pelley, Chief Executive of the DP World Tour, expressed his excitement for the future, highlighting the opportunity to strengthen their partnership with PIF and build on the current Strategic Alliance partnership with the PGA TOUR. Pelley believes this collaboration will position them to bring the game to new corners of the globe and energize their DP World Tour members.

In the coming months, all parties involved will work together to finalize the agreement’s terms, with further details to be announced in due course. This groundbreaking partnership signifies a new era for golf, where unity, growth, and innovation will shape the future of the game, captivating both long-time fans and new audiences worldwide.