The PGA Tour and DP World Tour announced on Tuesday that they’ve merged their business operations with the Saudi-backed LIV Golf and ended all litigation, bringing to an in depth the game’s two-year rift.
ALSO READ | MASSIVE pay days for SA quartet at LIV Golf occasion at Trump National
The US-based PGA Tour stated that they had “signed an agreement that combines PIF’s (Saudi Public Investment Fund’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”.
LIV Golf was launched in October 2021 and lured high PGA Tour expertise with document $25 million purses and cash ensures. The competitors is at present in its second season.
The PGA Tour responded to the emergence of a rival tour by banning LIV gamers whereas the DP World Tour has handed out heavy fines to its gamers.
ALSO READ | Hennie Otto turns again the clock
The rift had led to a sequence of lawsuits and precipitated acrimony between gamers.
“After two years of disruption and distraction, this is a historic day for the game we all know and love,” stated PGA Tour commissioner Jay Monahan.
“This transformational partnership recognises the immeasurable strength of the PGA Tour’s history, legacy and pro-competitive model and combines with it the DP World Tour and LIV – including the team golf concept – to create an organisation that will benefit golf’s players, commercial and charitable partners and fans,” he added.
New construction between PGA Tour and LIV Golf to be introduced
The title of the brand new merged entity and the exact construction of the excursions has but to be introduced however the PGA Tour stated that the events had agreed to “establish a fair and objective process for any players who desire to re-apply for membership with the PGA Tour or the DP World Tour following the completion of the 2023 season”.
MUST READ | Womens Golf South Africa: Andrew, De Wet appointed
While each the PGA Tour and the DP World Tour issued statements, there was no separate assertion from LIV however the PGA Tour included feedback from PIF governor Yasir Al-Rumayyan.
“Today is a very exciting day for this special game and the people it touches around the world,” stated Al-Rumayyan.
“We are proud to companion with the PGA TOUR to leverage PIF’s unparallelled success and observe document of unlocking worth and bringing innovation and world greatest practices to enterprise and sectors worldwide.
“There is no question that the LIV model has been positively transformative for golf. We believe there are opportunities for the game to evolve while also maintaining its storied history and tradition. This partnership represents the best opportunity to extend and increase the impact of golf for all,” he stated.
ALSO READ | 2023 US Open golf: Why so few South Africans?
By Garrin Lambley © Agence France-Presse
Source link
