By DOUG FERGUSON (AP Golf Writer) The PGA Tour ended its expensive fight with Saudi Arabia’s golf venture and now is joining forces with it, making a stunning announcement Tuesday of a merger that creates a commercial operation with the Public Investment Fund and the European tour. As part of the deal, the sides immediately are dropping all lawsuits involving LIV Golf. From the golf side, still to be determined is how players like Brooks Koepka and Dustin Johnson can rejoin the PGA Tour after defecting last year for signing bonuses reported to be in the $150 million range. From the commercial side, the governor of Saudi Arabia’s sovereign wealth fund joins the PGA Tour board of directors and leads the new business venture as chairman, though the PGA Tour will have a majority stake. News of the deal came as a surprise to many watchers of the lawsuits and Saudi Arabia’s inroads into U.S.

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BING NEWS:
  • Tiger Woods takes swipe at DOJ as he gives update on LIV Golf and PGA Tour merger
    Tiger Woods admitted he is frustrated at the lack of progress in the ongoing merger talks between the PGA Tour and LIV Golf, with the Department of Justice still to rubber-stamp the deal ...
    12/3/2024 - 3:12 am | View Link
  • Tiger Woods speaks out on PGA Tour and LIV Golf merger and explains delay
    Tiger Woods has given a rare insight into the ongoing merger talks between the PGA Tour and LIV Golf, as he admitted that even if a deal was agreed - it's up to the DOJ to give it the green light ...
    12/3/2024 - 2:27 am | View Link
  • LIV Golf's financial backers eye deal with DP World Tour separate from negotiations with PGA Tour, per report
    Unlike the PGA Tour, the DP World Tour has not completely shut the door on LIV Golf players being eligible for its tournaments. Levying fines against players for participating in non-sanctioned events ...
    12/2/2024 - 8:55 am | View Link
  • Golf’s civil war OVER as Rory McIlroy and Tiger Woods help negotiate £1BILLION peace deal between PGA Tour and LIV Golf
    The deal still has to be approved by PGA players but they are expected to agree. The Saudis happily ... in PGA and DP World Tour, who run European golf, events. LIV put on 14 events this year ...
    11/2/2024 - 5:33 am | View Link
  • More

 

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