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PGA Tour, LIV Golf, DP World Tour agree to merger, “new commercial entity”

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In a surprise announcement Tuesday, the PGA Tour and LIV Golf have agreed to a merger.

From a joint PGA Tour, DP World Tour release: “The parties have signed an agreement that combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, collectively owned, for-profit entity…”

Saudi Arabia’s sovereign wealth fund-backed LIV and the PGA Tour have been enmeshed in months of litigation, all of which will now end, according to the release. Additionally, players who departed the PGA and DP World Tours for LIV will be offered a “fair and objective process…to re-apply for membership.”

The DP World Tour is also included in the agreement. All parties will combine commercial and business rights in a yet-to-be-named for-profit company.

Terms of the deal were not disclosed.

PGA Tour commissioner Jay Monahan is scheduled to meet with players — who were sent a memo Tuesday morning — at the RBC Canadian Open.

This is a developing story. 

The PGA Tour’s full statement is below.

“The PGA TOUR, DP World Tour and the Public Investment Fund (PIF) today announced a landmark agreement to unify the game of golf, on a global basis. The parties have signed an agreement that combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and 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.

“In addition, PIF will make a capital investment into the new entity to facilitate its growth and success. The new entity (name TBD) will implement a plan to grow these combined commercial businesses, drive greater fan engagement and accelerate growth initiatives already underway. With LIV Golf in the midst of its second, groundbreaking season, the PGA TOUR, DP World Tour and PIF will work together to best feature and grow team golf going forward.

“Notably, today’s announcement will be followed by a mutually agreed end to all pending litigation between the participating parties. Further, the three organizations 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 following the completion of the 2023 season and for determining fair criteria and terms of re-admission, consistent with each Tour’s policies.

“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. “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. 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.

“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. This will engender a new era in global golf, for the better.”

“Today is a very exciting day for this special game and the people it touches around the world,” said PIF Governor Yasir Al-Rumayyan. “We are proud to partner with the PGA TOUR to leverage PIF’s unparalleled success and track record of unlocking value and bringing innovation and global best practices to business and sectors worldwide. We are committed to unifying, promoting and growing the game of golf around the world and offering the highest-quality product to the many millions of long-time fans globally, while cultivating new fans.

“There is no question that the LIV model has been positively transformative for golf. We believe there are opportunities for the game to evolve while also maintaining its storied history and tradition. This partnership represents the best opportunity to extend and increase the impact of golf for all. We look forward to collaborating with Jay and Keith to bring the best version of the game to communities around the world.”

“Under the terms of the agreement, the Board of Directors of the new entity will oversee and direct all the new entity’s golf-related commercial operations, businesses and investments. The new entity will work to ensure a cohesive schedule of events that will be exciting for fans, sponsors and all stakeholders. PIF will initially be the exclusive investor in the new entity, alongside the PGA TOUR, LIV Golf and the DP World Tour. Going forward, PIF will have the exclusive right to further invest in the new entity, including a right of first refusal on any capital that may be invested in the new entity, including into the PGA TOUR, LIV Golf and DP World Tour. The PGA TOUR will appoint a majority of the Board and hold a majority voting interest in the combined entity.

“Separately, PGA TOUR Inc. will remain in place as a 501(c)(6) tax exempt organization and retains administrative oversight of events for those assets contributed by the PGA TOUR, including the sanctioning of events, the administration of the competition and rules, as well as all other “inside the ropes” responsibilities, with Jay Monahan as Commissioner and Ed Herlihy as PGA TOUR Policy Board Chairman. PIF’s Governor Yasir Al-Rumayyan will join the PGA TOUR Policy Board. The DP World Tour and LIV Golf will retain similar administrative oversight of events on their respective Tours.

“The Board of Directors of the new commercial entity will include Al-Rumayyan as Chairman and Monahan as Chief Executive Officer; the new entity’s Board will also include an Executive Committee comprising Al-Rumayyan, Monahan, Herlihy and PGA TOUR Policy Board member Jimmy Dunne. The full Board will be announced at a later date, and it is anticipated that all three founding members will have representation.

“Keith Pelley, Chief Executive of the DP World Tour, said “This is a momentous day. We are delighted to be able to not only reignite our relationship with PIF, but also to have the opportunity to build on our current Strategic Alliance partnership with the PGA TOUR. Together we will be stronger than ever and well positioned to continue to bring the game to all corners of the globe. To partner in this new entity and influence the growth of the game for all our DP World Tour members is energizing and exciting.”

“All parties will work in the months to come to finalize terms of the agreement, with details to be announced in due course.”

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Morning 9: Tiger confirms playing schedule | Player: This caused Tiger’s downfall

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By Ben Alberstadt with Gianni Magliocco.

For comments: [email protected]

Good Thursday morning, golf fans, as day one of the CJ Cup Byron Nelson gets underway.

1. Woods confirms he plans to play 1x monthly, remaining 3 majors

ESPN report…”Woods, appearing on the “Today” show Wednesday morning, said he is still following the calendar he mapped out before the season began. But physical limitations continue to give the 15-time major winner pause.”

  • “He completed the Masters last month but requires a “cold plunge every day, religiously” to get his body going and was “extremely sore” when he left Augusta National. Woods shot a 16-over 304 at the Masters and finished last among the 60 golfers who made the 36-hole cut.”
  • “I have basically the next three months — three majors — and hopefully that works out,” said Woods, who last won a major in 2019.
  • “Up next is the PGA Championship at Valhalla in two weeks. The U.S. Open at Pinehurst No. 2 begins June 13, and the Open Championship at Royal Troon in Scotland begins July 18. Woods has not played all four majors in a year since 2019.”
Full piece.

2. Tiger on origin of red-and-black Sunday outfit

Ben Morse for CNN…”…speaking on Tuesday’s edition of ‘The Tonight Show Starring Jimmy Fallon,’ the 48-year-old said his mother Kultida was key to him wearing the now-iconic red and black combination.”

  • “My mom thought, being a Capricorn, that [red] was my power color, or some BS thing like that, so I end up wearing red and end up winning some golf tournaments,” the 15-time major winner told Fallon. “And then to spite her, I wore blue, and I did not win those tournaments. So Mom is always right.”
  • “Woods’ mother was clearly was onto something as her son would go onto win a record-equaling 82 PGA Tour tournaments.”
Full piece.

3. Gary Player’s take on Tiger’s downfall

Our Matt Vincenzi…”While speaking with KW Golf, golf legend Gary Player said that he believes swing coaches ruined the career of Tiger Woods.”

  • “The US Open at Pebble Beach, he won by 15 shots. You know what that’s like? It’s like running the 100 meters in seven seconds. The next week, he’s having a lesson from a man who, I don’t think, if he played in the Masters, could break 80.”
  • “And then he goes to another guy who couldn’t probably break 85 in the Masters with the pressure, or the British Open or the PGA on the final day. And he’s having lessons from them.”
  • “Why did Tiger do that? He was so good, but I understand he wanted to get better,” Player went on. “If he had just gone along and never changed, he would have won at least 22.. He would’ve gone down as the greatest athlete the world has ever seen.”
  • In 2008, Woods had won 14 majors and was 33 years old. It would take him eleven years to win his 15th at the 2019 Masters.
Full piece.

4. Open winner: I used to hate links golf

Peter Scrivener for the BBC…”However, he did recall his chastening links golf baptism at neighbouring Prestwick, which hosted the inaugural Open in 1860.”

  • “The first time I played links golf I hated it – it ate me to pieces,” said the 37-year-old, who lost all four of his matches as Europe thrashed the United States in the 2006 Palmer Cup.
  • “I kept trying to hit lob wedges around the greens and the weather was bad. I got whipped, lost all of my matches.”
Full piece.

5. Why Tiger’s daughter doesn’t like golf

Our Matt Vincenzi…”While Tiger Woods’ son, Charlie, has certainly inherited his father’s love for golf, his daughter, Sam, has not.”

  • “On Wednesday, Tiger made an appearance on The Today Show with Carson Daly and explained his daughter’s relationship with golf.”
  • “Golf has negative connotations for her. When she was growing up, golf took daddy away from her. I had to pack, I had to leave, and I was gone for weeks. So, there were negative connotations to it.
  • “We developed our own relationship and our own rapport outside of golf. We do things that doesn’t involve golf. Meanwhile, my son and I, everything we do is golf related.”
Full piece.

6. Spieth hits ‘reset button’

Mark Schlabach for ESPN…”PGA Tour star Jordan Spieth isn’t happy that he’s not playing as well as his longtime friend Scottie Scheffler, but he’s hoping to use the world No. 1 golfer’s success as inspiration.”

  • “Spieth, a three-time major championship winner, said he used last week as a reset after a so-so start to the 2024 season. He has three top-10 finishes in 10 starts but had a disqualification and three missed cuts, including at The Players and Masters, in his past seven.”
  • “He is hoping to turn things around, starting at The CJ Cup Bryon Nelson, which tees off Thursday at TPC Craig Ranch in McKinney, Texas.”
  • “I think I kind of wanted to hit the reset button this last week and I took more days off than I usually do,” Spieth told reporters Wednesday. “Got a little burned out trying to find stuff. I wanted to take some time off, clear my mind, and then get back to it.
  • “… Kind of looking at this as kind of a restart. I haven’t had the year I wanted to have after getting off to a pretty optimistic start in Hawaii. I feel really good about the work I put in since the weekend into the few days this week, so I believe that I’m really close to some great things.”
Full piece.

7. Photos from the CJ Cup Byron Nelson

  • Check out all of our galleries from this week’s event!
Full Piece.
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Photos from the 2024 CJ Cup Byron Nelson

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GolfWRX is on site this week in McKinney, Texas, at the 2024 CJ Cup Byron Nelson (FKA the AT&T Byron Nelson).

Last year at TPC Craig Ranch, Jason Day ended a five-year winless streak. J-Day is in the field again, as are Jordan Spieth, Tom Kim, and Will Zalatoris.

We have our usual assortment of general galleries, WITBs, and pullout albums for your perusal. As always, we’ll continue to add links to additional albums as they make their way to us from the Lone Star State.

Check out links to all our photos below.

General Albums

WITB Albums

Pullout Albums

See what GolfWRXers are saying in the forums.

 

 

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Vincenzi’s 2024 CJ Cup Byron Nelson betting preview: International talent to shine

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As anticipation mounts for the 2024 PGA Championship at Valhalla in a few weeks, the PGA Tour makes a pit stop in McKinney, Texas to play The CJ CUP Byron Nelson. 

Last year was the third time TPC Craig Ranch hosted the Byron Nelson. Prior to 2021, the event was held at Trinity Forest Golf Club in Dallas.

TPC Craig Ranch is a 7,414-yard par-71 that features Bentgrass greens. The event historically plays relatively easy, and that has remained the case in the three editions at TPC Craig Ranch.

The course structure may provide some additional intrigue with the par-3 17th featuring a stadium setup called “Ranch 17” which is reminiscent of the 16th hole at TPC Scottsdale. The course also has both long and difficult par-4s mixed with drivable par-4s, which should create some exciting moments.

There are 156 golfers in the field this week, and many stars will be taking the week off to prepare for 2023’s second major championship in a few weeks and a “signature event” at Quail Hollow next week. Notable players in the field include Jordan Spieth, Jason Day, Sungjae Im, Stephan Jaeger, Tom Kim, Si Woo Kim, Min Woo Lee, Alex Noren, Adam Scott and Will Zalatoris. 

Past Winners of the AT&T Byron Nelson

  • 2023: Jason Day (-23 at TPC Craig Ranch)
  • 2022: K.H. Lee (-26 at TPC Craig Ranch)
  • 2021: K.H. Lee (-25 at TPC Craig Ranch)
  • 2019: Sung Kang (-23)
  • 2018: Aaron Wise (-23)
  • 2017: Billy Horschel (-12)
  • 2016: Sergio Garcia (-15)
  • 2015: Steven Bowditch (-18)

Key Stats at TPC Craig Ranch

Let’s take a look at five key metrics for TPC Craig Ranch to determine which golfers boast top marks in each category over their last 24 rounds.

Strokes Gained: Approach

Strokes Gained: Approach remains the best measure of current form.

Hot iron play will be at a premium this week. Last year, Jason Day gained 6.4 strokes on approach, which was fourth in the field. In 2022, K.H. Lee was ninth in the field in Strokes Gained: Approach, gaining 5.2 strokes. In his 2021 victory, he was second in the field and gained 8.3 strokes on the field in the category.

Strokes Gaines: Approach Over Past 24 Rounds

  1. Tom Hoge (+1.12)
  2. Keith Mitchell (+1.02)
  3. Henrik Norlander (+0.99)
  4. Ryan Moore (+0.98)
  5. Ben Martin (0.80)

Strokes Gained: Off the Tee

Fairways are wide at TPC Craig Ranch.

Distance will certainly be helpful, and there aren’t too many difficult holes on the course. Golfers who put themselves in position off of the tee this week should have a sizable advantage.

Strokes Gained: Off the Tee Over Past 24 Rounds

  1. Peter Kuest (+0.93)
  2. Kevin Daugherty (+0.91)
  3. Alejandro Tosti (+0.83)
  4. Keith Mitchell (+0.82)
  5. Kevin Tway (+0.74)

Birdie or Better %

There aren’t many hazards on the course, and all of the par-5s should be reachable in two for the majority of the players in the field. I am anticipating a birdie fest, and this statistic should be helpful in finding the birdie-makers.

Birdie or Better % Over Past 24 Rounds:

  1. Wesley Bryan (31%)
  2. Kelly Kraft (26.2%)
  3. Peter Kuest (25.9%)
  4. Matti Schmid (25.7%
  5. Jimmy Stanger (25.2%)

Strokes Gained: Putting (Bentgrass)

Many golfers on TOUR have some major putting surface variance in their statistics and prefer Bentgrass to other surfaces.

Bentgrass is common in Texas, and we often see golfers who play well in Texas continue to do so, finding a great feel around the greens.

Strokes Gained: Putting (Bentgrass) Over Past 24 Rounds:

  1. Maverick McNealy (+0.92)
  2. Aaron Baddeley (+0.87)
  3. Callum Tarren (+0.86)
  4. Harry Hall (+0.81)
  5. Nick Hardy (+0.69)

Course History

This statistic will tell us which players have performed the best at TPC Craig Ranch over the past three seasons.

Course History Over Past 12 Rounds:

  1. Jordan Spieth (+2.69)
  2. K.H. Lee (+2.59)
  3. Seamus Power (+1.84)
  4. Ryan Palmer (+1.76)
  5. Adam Scott (+1.72)

CJ CUP Byron Nelson Model Rankings

Below, I’ve compiled overall model rankings using a combination of the five key statistical categories previously discussed — SG: Approach (27%), SG: OTT (24%), Birdie or Better % (18%), Course History (17%) and SG: Putting Bentgrass (16%).

  1. Alex Noren
  2. Adam Scott
  3. Keith Mitchell
  4. Si Woo Kim
  5. Stephen Jaeger
  6. Jordan Spieth
  7. Jhonnatan Vegas
  8. Nate Lashley
  9. Brice Garnett
  10. Tom Hoge

2024 CJ CUP Byron Nelson Picks

Byeong Hun An +3000 (DraftKings)

Byeong Hun put together an excellent performance at The Masters, finishing T16, which ties his best ever finish at a major championship (also T16 at 2019 U.S. Open). The South Korean gained 9.16 strokes from tee to green, which ranked 2nd in the field behind only the champion, Scottie Scheffler.

An’s next start at Harbour Town didn’t go as well (67th), but he still had a fantastic ball striking week. The 32-year-old bled strokes both around and on the greens, which was his eventual undoing. In his past three starts, An has gained significant strokes on the field both off the tee and on approach.

Benny had a strong start at last year’s Byron Nelson, finishing in a tie for 14th. With limited challenges on the course, he shouldn’t have to do much scrambling. In his past 24 rounds, he ranks 17th in the field in Strokes Gained: Off the Tee and 17th in the field in birdie or better percentage. The putter is up and down per usual, but his ceiling putting weeks with his LAB Golf putter in 2024 are higher than they’ve been in past seasons.

An is starting to become my “white whale” of the PGA Tour, but I believe in his talent and TPC Craig Ranch is a course that should suit his excellent tee to green play.

Mackenzie Hughes +5500 (FanDuel)

Mackenzie Hughes is quietly putting together a very good season. He finished in a tie for 3rd at the Valspar Championship and followed that up with a T14 at the Texas Children’s Houston Open.

In his past 36 rounds in Texas, the Canadian ranks 5th in the field in Strokes Gained: Total. Last year, he finished in a tie for 14th at this event and gained strokes putting and off the tee. Mackenzie played well that week despite being in extremely poor form. He missed two cuts in a row prior to the event, and four consecutive cuts immediately after. His irons were off that week, but in 2024, we’ve seen an improvement in Hughes’ approach game. He now comes to the event playing some steady golf. He’s gained strokes on approach in four of his past five events and is hitting the ball very well from tee to green.

Hughes has two victories on the PGA Tour, both coming in relatively low-scoring affairs (-17 in each). He will need to go a bit deeper to win the CJ Cup Byron Nelson but has the type of putter that can keep pace in a birdie barrage.

Seamus Power +7000 (FanDuel)

After struggling over the past few seasons with injuries, Seamus Power seems as if he is rounding back into the form that made him a really consistent player on the PGA Tour.

Power finished T12 in his most recent start at the RBC Heritage, which is encouraging considering it was a “signature event” with a very strong field. For the week, the Irishman gained 4.4 strokes on approach and 2.8 strokes putting, which is the combination he’s used in the past to contend on Tour.

In his three trips to TPC Craig Ranch, Power is yet to finish outside of the top-20, with his best finish being a T9 in 2019. He ranks 4th in Strokes Gained: Total at the course. The 37-year-old thrives on easy tracks and has won in 2021 (Barbasol Championship) and 2022 (Butterfield Bermuda) on easier layouts with weaker fields.

Power has the game to go extremely low and I believe he can get back in the winner’s circle for the third time in four years.

Chan Kim +10000 (FanDuel)

Chan Kim has been striking the ball beautifully this season and is a proven winner with two wins on the Korn Ferry Tour in 2023 as well as eight career Japan Tour wins.

At last week’s Zurich Classic, Kim and his partner Doug Ghim finished in a tie for 28th. Prior to that, the South Korean T14 at the Valero Texas Open and T6 at the Corales Puntacana Championship. His success this season in Texas as well as he propensity to play his best golf on the PGA Tour’s easier courses make him and ideal fit for TPC Craig Ranch.

2024 has given plenty of longshot winners on the PGA Tour, and with a birdie fest like this, I believe there’s a strong chance we get another this week in McKinney, Texas.

Alejandro Tosti +10000 (FanDuel)

Alejandro Tosti is one of the most polarizing players on the PGA Tour thus far in the 2024 season. His antics can rub many the wrong way, but he’s shown on a few occasions that he has what it takes to compete in Tour events.

This season, Tosti has been elite off the tee. In his past 24 rounds, he ranks 2nd in Strokes Gained: Off the Tee. The Argentine hits it long and straight, which works at any course on earth. He got a taste of contention a few starts ago at the Texas Children’s Houston Open, finishing in a tie for 2nd place.

Tosti had a fantastic year in 2023 on the Korn Ferry Tour, where going low is a prerequisite to success. If this turns to a shootout, which it likely will, the 27-year-old has the ability to set the pace. Tosti will look to become the second Argentine to win in Texas in the past two seasons after Emiliano Grillo emerged victorious at last year’s Charles Schwab Challenge.

C.T. Pan +15000 (FanDuel)

Outside of a T3 at the Mexico Open, C.T. Pan doesn’t have strong results this season in terms of finishes. However, over his past two starts, Pan’s iron play has come alive. At The Players, he gained 6.6 strokes on approach. At the Valero Texas Open, he gained 3.7. At last week’s Zurich Classic, Pan and his partner Kevin Yu finished T28. For a player who can get extremely hot with his scoring clubs, I believe he’s playing better than the results have shown over the past month or so.

Last season, Pan finished 4th at TPC Craig Ranch and was spectacular across all the major stat categories. In his past 36 qualifying rounds, he ranks 16th in Strokes Gained: Total in Texas.

Pan has won on the PGA Tour at the RBC Heritage and is always a player that I believe has what it takes to win on a Sunday if he finds himself in contention.

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