PGA Tour and LIV Unification Catch Pro Golfers Off-Guard

In a surprise move, the PGA Tour has announced a partnership with LIV Golf that will create a new collectively owned, for-profit entity alongside the DP World Tour and Saudi Arabia's Public Investment Fund (PIF). The new entity aims to unify professional men's golf and promises to grow the tours' combined commercial businesses, drive greater fan engagement, and accelerate growth initiatives already underway. The PGA Tour will retain its tax-exempt status and continue to run its own events with Jay Monahan remaining as Commissioner. The Saudi PIF will be the "exclusive investor" alongside the PGA Tour, LIV Golf, and DP World Tour. PIF Governor Yasir Al-Rumayyan will become Chairman of the new commercial entity, with Monahan as CEO. The team concept that LIV has embraced was mentioned prominently several times in the joint release, including noting that the three tours will work together to best feature and grow team golf going forward. Players who left the PGA Tour for LIV might have an avenue to return, with the three tours noting that they will "work cooperatively and in good faith 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" after the 2023 LIV season ends. The PIF's capital investment (an undisclosed amount) promises to help the new for-profit entity grow the tours' combined commercial businesses, drive greater fan engagement, and accelerate growth initiatives already underway.