Golf: PGA Tour, LIV Announce Merger To End Rivalry
The PGA Tour, DP World Tour and rivals the Saudi-backed, who have been involved in a fight that has split the sport of golf, stunned the golf world after announcing a shock agreement to merge and form one unified commercial entity.
The organisations said in a joint news release they will work together to allow a process for LIV Golf players to reapply for membership on the PGA Tour and DP World Tour, formerly known as the European Tour, following the 2023 season.
The announcement was slammed by many PGA Tour players who were left in the dark about the merger and comes after a very public war of words between all the sides, mounting tensions and a bitter legal battle.
The PGA TOUR, DP World Tour and PIF announce landmark agreement to unify men’s professional golf.
— PGA TOUR (@PGATOUR) June 6, 2023
“After two years of disruption and distraction, this is a historic day for the game we all know and love,” said PGA Tour Commissioner Jay Monahan, who had long been a vocal critic of LIV Golf.
“How did we go from a confrontation to now being partners? We just realised that we were better off together than we were fighting or apart,” he told reporters following an “intense” meeting with Tour golfers to discuss details of the deal.
No details were given as to how the agreement will impact the current competitive golf landscape, including eligibility for this year’s Ryder Cup. However, the parties said they will work in the coming months to finalise terms of the merger.
The deal announced on Tuesday is a binding framework agreement but the financial terms have not been hashed out yet, a source familiar with the matter said.
Michael Klein & Co will conduct valuation work on LIV’s assets and Allen & Co will conduct valuation work on the PGA Tour’s assets before the price at which the merger will happen gets determined, the source added.
A mechanism is included in the agreement to resolve any valuation disputes, the source said, without elaborating further.
MIXED REACTION
Among the more popular players who made the move to LIV Golf are Hall of Fame golfer Phil Mickelson, former world number one Dustin Johnson, reigning PGA Championship winner Brooks Koepka and 2022 British Open winner Cameron Smith.
“Awesome day today,” tweeted Mickelson, whose public image took a hit in February 2022 when the author of an unauthorised biography on him released excerpts from the book in which he called the Saudis “scary” but said he was willing to look past their human rights records to gain leverage with the PGA Tour.
Awesome day today 😊 https://t.co/qUwVJiydym
— Phil Mickelson (@PhilMickelson) June 6, 2023
Some PGA Tour players expressed surprise at having not been informed of the agreement before its announcement.
“I love finding out morning news on Twitter,” wrote two-times major champion Collin Morikawa.
I love finding out morning news on Twitter
— Collin Morikawa (@collin_morikawa) June 6, 2023
Former US President Donald Trump, who owns three courses that are part of LIV Golf’s 14-event schedule in 2023, celebrated the deal in a Truth social post using all caps.
“Great news from LIV Golf. A big, beautiful, and glamorous deal for the wonderful world of golf. Congrats to all!!!”, wrote Trump.
Since its launch, LIV players have only competed alongside their former colleagues at the majors as those four blue-riband events on the golf calendar are not run by either the PGA Tour or DP World Tour but by independent institutions.
Many of those who accepted lucrative signing bonuses to join LIV Golf, cited as their reason for making the leap a desire to play fewer events and spend more time with their families.
