The bloodiest trial in the world of golf ended this Tuesday when the PGA Tour and the European Tour agree to a merger in the interests of LIV (Super League) sponsored by Saudi Arabia, creating a commercial operation designed to unify professional golf around the world.
As part of the agreement, the parties drop all litigation related to LIV Golf against each other effective immediately. It remains to be determined how the players type Brooks Koepka, Dustin Johnson, Bryson DeChambeau, Sergio Garcia either Phil Mickelsonwho left the traditional circuit to switch to Saudi Arabia-funded LIV Golf, in exchange for nine-figure millionaires, will rejoin the PGA Tour later this year.
The agreement combines the Public Investment Fund’s golf-related businesses and commercial rights – including LIV Golf – on the PGA and European circuits. The name of the new entity has not yet been disclosed.
“They’re going to go their way, we’re going to go our way, and after a lot of investigation you realize that all this tension in the game is not a good thing,” he said. Jay Monahan, commissioner of the PGA Tour, in an interview with The Associated Press. “We have a responsibility to our tour and to the game, and we felt the time was right to have that conversation,” he added.
Yasir Al-Rumayyan, governor of Saudi Arabia’s sovereign wealth fund, will join the PGA Tour board, which continues to run its tournaments. Al-Rumayyan will be chairman of the new business group, with Monahan serving as CEO and the PGA Tour holding a majority stake in the new venture. PIF will invest in commercial enterprise. Monahan said the decision came after seven weeks of negotiations.
Source: La Verdad
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