PGA Tour and Saudi-backed LIV Golf Announce Deal to Merge Commercial Operations
- The PGA Tour and Saudi Arabia's sovereign wealth fund signed a framework agreement to form a for-profit subsidiary that will manage all tours' commercial assets.
- The PGA Tour will maintain majority control of the new company's board of directors while the Public Investment Fund will be a non-controlling minority investor providing funds.
- The deal faces scrutiny from Congress, antitrust regulators, and the PGA Tour's board and must be finalized by December 31.
- LIV Golf's viability will be evaluated to determine if it will continue operating, and pathways will be established for suspended players to return to the PGA Tour.
- The new company will make an "empirical data-driven evaluation" of LIV Golf to determine how to integrate its team golf model into PGA Tour and DP World Tour events.
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