The PGA Tour has agreed to merge with rival the Saudi Arabian government-backed LIV Golf.
Lillian Rizzo of CNBC broke the news.
“The proposed merger comes after the PGA Tour and LIV Golf have been embroiled in lawsuits regarding antitrust claims,” Rizzo wrote while noting the deal would end all pending litigation between the two organizations.
“The two entities signed an agreement that would combine the PGA Tour and LIV Golf’s commercial businesses and rights into a new, yet-to-be-named company,” Rizzo reported.
The Saudi Arabia Public Investment Fund, an entity controlled by the Saudi crown prince Mohammed bin Salman Al Saud, has been fighting antitrust suits filed by the PGA Tour in the last year.
Phil Mickelson, the face of LIV Golf, said in September 2022 that it would be in the best interest of both organizations to come together.
“The PGA Tour, for the last 20 or 30 years have had all the best players in the world. That will never be the case again,” Mickelson said.
“LIV Golf is here to stay. The best solution is for us to come together. I think that the world of professional golf has a need for the old historical ‘history of the game’ product that the PGA Tour provides. I think that LIV provides a really cool, updated feel that is attracting a lot of younger crowds.”
The golf world was quick to react to the shocking news:
Brooks winning the PGA saved golf https://t.co/2nebbujdCY
— Ben Axelrod (@BenAxelrod) June 6, 2023
Awesome day today 😊 https://t.co/qUwVJiydym
— Phil Mickelson (@PhilMickelson) June 6, 2023
Greg Norman and Phil Mickelson today https://t.co/e0Yv6rTW2v pic.twitter.com/DVSf59bthK
— Luke (@realLuke_Ward) June 6, 2023
All of that chest beating, holier than thou talk…
… just for @PGATOUR to sell out in the end.
Money talks, people. Money talks… #LIVGolf #PGATour #Golf https://t.co/IFyQ0hFw0G
— Gethin Coolbaugh (@GethinCoolbaugh) June 6, 2023
Brandel now is gonna be saying how great LIV Golf is https://t.co/aVBLQyztim
— PGA/LIV Hot Takes (@PGALIVHotTakes) June 6, 2023
[CNBC]
