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Less than a year after PGA Tour commissioner Jay Monahan said that any potential truce with the rival Saudi-backed LIV Golf circuit was "off the table," a landmark merger between the two entities has been formed.
The PGA Tour released a statement Tuesday confirming that the Tour, Saudi Public Investment Fund (PIF), and the DP World reached an agreement with a goal to "unify the game of golf, on a global basis."
PGA Tour Commissioner Jay Monahan speaks during a press conference prior to the TOUR Championship at East Lake Golf Club on Aug. 24, 2022 in Atlanta. (Cliff Hawkins/Getty Images)
"After two years of disruption and distraction, this is a historic day for the game we all know and love," Monahan said in a press release.
"This transformational partnership recognizes 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 organization that will benefit golf’s players, commercial and charitable partners and fans."
He continued, "Going forward, fans can be confident that we will, collectively, deliver on the promise we’ve always made – to promote competition of the best in professional golf and that we are committed to securing and driving the game’s future.
Team captain Dustin Johnson celebrates after winning the LIV Golf Invitational - Boston on the first playoff hole at The Oaks golf course at The International on Sept. 4, 2022 in Bolton, Massachusetts. (Joe Scarnici/LIV Golf via Getty Images)
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The new agreement will merge the PIF’s golf-related businesses, which include LIV Golf, with that of the PGA Tour and the DP World Tour into a "new, collectively owned, for-profit entity to ensure that all stakeholders benefit from a model that delivers maximum excitement and competition among the game’s best players."
The Saudi PIF will also make a "capital investment" into the newly established entity, as part of the agreement.
Another major point of the deal is that the agreement will end all pending litigation between the three circuits and will allow for those players that left their respective tours to re-apply for membership following the 2023 season.
Brooks Koepka speaks to the media during a press conference prior to the LIV Golf Invitational - Portland at Pumpkin Ridge Golf Club on June 28, 2022 in North Plains, Oregon. (Jonathan Ferrey/LIV Golf via Getty Images)
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"We are pleased to move forward, in step with LIV and PIF’s world-class investing experience, and I applaud PIF Governor Yasir Al-Rumayyan for his vision and collaborative and forward-thinking approach that is not just a solution to the rift in our game, but also a commitment to taking it to new heights," Monahan added.
"This will engender a new era in global golf, for the better."
LIV Golf’s debut in 2022 received immediate pushback from the Tour and its European counterpart, creating a divide between some of golf’s top competitors. The emergence of the rival tour prompted the PGA Tour to announce immediate and indefinite suspensions for any of its members looking to play on LIV.
The DP World Tour quickly followed, and so did the lawsuits.
Certain players also spoke out publicly against the Saudi-backed tour, with Rory McIlroy being the fiercest opponent of it.
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LIV Golf signage ahead of the LIV Golf Invitational at The Centurion Club on June 08, 2022 in St Albans, England. (Joe Maher/LIV Golf/Getty Images)
Ahead of the 2022 Presidents Cup in September, Monahan dismissed the possibility of a truce in an interview with the Golf Channel, seemingly pointing to the current climate which included a lawsuit filed by several of its former members.
"Listen, I think I’ve been pretty clear on this: I don’t see it happening," Monahan said at the time.
"When you look at where we are, and you think about words and actions, we’re currently in a lawsuit, so coming together and having conversations, to me, that card is off the table, and it has been for a long period of time."
Several months later, LIV is in now its second season with several of its members, including 2023 PGA Championship winner Brooks Koepka, performing well at majors alongside Tour players.