Saudi Arabia just bought golf
The golf world was shocked on Tuesday when the PGA Tour, DP World Tour and LIV Golf announced a merger that will create one unified commercial entity for the sport. The deal, backed by Saudi Arabia’s Public Investment Fund (PIF), will end the bitter feud and legal battles that have split golf for the past two years.
The merger will combine PGA Tour, DP World Tour and LIV Golf’s commercial businesses and rights under a new, yet-to-be-named for-profit company. The company will be chaired by PIF governor Yasir Al-Rumayyan, while PGA Tour commissioner Jay Monahan will be the chief executive.
The deal will also allow LIV Golf players to reapply for membership on the PGA Tour and DP World Tour after the 2023 season. The golf calendar for 2023 will remain unchanged, but the team element of LIV Golf’s format will continue in some capacity.
The merger is seen as a historic day for golf by Monahan, who said it will unify the game and deliver maximum excitement and competition among the world’s best players. However, the deal also faces some criticism and challenges from players, experts and human rights activists.
The merger is subject to finalization of terms and conditions in the coming months. It is expected to be completed by early 2024. The merger marks a new era for golf, one that could reshape its landscape forever.
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