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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: 58 on the Korn Ferry Tour | Rory on possible return to policy board

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By Ben Alberstadt with Gianni Magliocco.

For comments: [email protected]

Good Friday morning, golf fans, may a bountiful weekend of golf be in store for you!

1. 58 on the Korn Ferry Tour

KFT staff report…”Frankie Capan III went crazy low Thursday on the Korn Ferry Tour. Nearly in record fashion.”

  • “Capan carded 13-under 58 in the opening round of the Veritex Bank Championship, matching the second lowest score in Korn Ferry Tour history. He fell one shy of Cristobal Del Solar’s record 57, set at the Astara Golf Championship presented by Mastercard earlier this year, but it was a heck of a show nonetheless.”
  • “The Minnesota native played an eight-hole stretch in 9-under Thursday, following an eagle at the par-5 ninth with seven straight birdies to begin the back nine at par-71 Texas Rangers Golf Club. He “cooled off” with a two-putt par at the long par-4 17th hole. He arrived at the par-5 18th hole at 13 under for the round, but he found a fairway bunker off the tee, laid up to 134 yards and missed his third shot left of the green. He chipped to 7 feet and drained the par putt to match the Korn Ferry Tour’s second-lowest score of 58, carded by Stephan Jaeger in the opening round of the 2016 Ellie Mae Classic at TPC Stonebrae.”
Full piece.

2. Team McIlowery starts strong

Paul Hodowanic for PGATour.com…”Late Thursday afternoon in New Orleans, Rory McIlroy rested his head on Shane Lowry’s shoulder.”

  • “It wasn’t the typical post-round moment, but this isn’t the typical event. McIlroy and Lowry teamed up for this week’s Zurich Classic of New Orleans, the PGA TOUR’s lone team event, and the all-Irish duo put on a show. Sporting matching pink-on-navy getups, McIlroy/Lowry opened in a best-ball 11-under 61 in Thursday’s Four-ball format at TPC Louisiana.”
  • “This partnership might have stemmed from a boozy brunch last fall, but their opening-round performance at the Zurich Classic of New Orleans gave the field a sobering reminder: They’ll be tough to top.”
Full piece.

3. LPGA Tour: Grace Kim in front

AP report…”Grace Kim shot a 7-under 64 at Wilshire Country Club to take the first-round lead Thursday in the LPGA Tour’s JM Eagle LA Championship.”

  • “Playing in the morning session, the 23-year-old Australian capped her bogey-free round with a chip-in birdie on the par-3 18th.”
  • “Well, I chunked my tee shot on the last hole 20 meters short and then I chipped it in it,” Kim said. “I think that’s pretty cool, in front of everyone
Full piece.

4. McIlroy on rejoining policy board

Golf Channel’s Ryan Lavner…”Rory McIlroy said Wednesday that he is willing to rejoin the PGA Tour policy board if the other player directors want him.”

  • “As first reported by the Guardian, Webb Simpson has submitted a letter stating that he’d like to resign from the board, but only if his vacant seat is filled by McIlroy, who stepped down last fall because of the toll it had taken on him professionally and personally.”
  • “Five months later, what has changed?”
  • “I think I can be helpful,” McIlroy said Wednesday ahead of the Zurich Classic of New Orleans, where he is partnering with Shane Lowry. “I don’t think there’s been much progress made in the last eight months, and I was hopeful that there would be. I think I could be helpful to the process. But only if people want me involved, I guess.”
Full piece.

5. Charlie Woods shoots 81 in U.S. Open qualifier

Golfweek’s Cameron Jourdan…”Charlie Woods is going to have to wait to play in the U.S. Open.”

“The 15-year-old son of Tiger Woods played Thursday in local qualifying for the United States Golf Association’s national championship, set for June 13-16 at Pinehurst No. 2 in North Carolina. Charlie played at The Legacy Golf & Tennis Club in Port St. Lucie, Florida, and he shot 9-over 81.”

“Charlie’s round featured a bogey on his opening hole, the par-4 first. He then doubled the par-5 second. A pair of pars followed before his lone birdie on the front, but another double the next hole, the par-4 sixth, had him turn in 4-over 40.”

Full piece.

6. Photos from the Zurich Classic

GolfWRX is live on site this week at the Zurich Classic of New Orleans for the PGA Tour’s one-and-only two-man team event.

Check out all our photos at the link below!

Full piece.
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Tour Photo Galleries

Photos from the 2024 Zurich Classic of New Orleans

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GolfWRX is live on site this week at the Zurich Classic of New Orleans for the PGA Tour’s one-and-only two-man team event.

As usual, general galleries, WITBs, and pullout albums — including some pretty spicy custom putters and headcovers — await your viewing.

Be sure to check back for more photos from the Big Easy, as we’ll continue to update this page with additional galleries throughout the week.

General Albums

WITB Albums

Pullout Albums

See what GolfWRXers are saying about our photos from the Zurich Classic of New Orleans in the forums.

 

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Morning 9: Tiger’s TGL teammates | Woosnam’s criticism of Cantlay | Rory’s return to tour policy board

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By Ben Alberstadt with Gianni Magliocco.

For comments: [email protected]

Good Tuesday morning, golf fans, as the PGA Tour heads to New Orleans for the Zurich Classic.

1. 15-year-old finishes top 20 on KFT

Jay Coffin for Golf Digest…”During a week when most eyes were on Scottie Scheffler and Nelly Korda, the 15-year-old lefty finished off an incredible week with a five-under 66 in the final round of the Korn Ferry Tour’s LECOM Suncoast Classic at Lakewood Ranch in Florida.”

  • “After opening with 68-66-70, Russell finished at 14-under-par total to tie for 20th place. The finish in which he jumped 28 positions on the leaderboard on the final day, gives him an exemption into next week’s Veritex Bank Championship at Rangers Park in Arlington, Texas. He’s the youngest player to finish inside the top 20 on the PGA of Korn Ferry tours, according to records that go back to 1983.”
Full piece.

2. Understandably, Nelly WDs

Golf Channel’s Ryan Lavner…”Nelly Korda’s bid for a record-setting sixth consecutive win will have to wait a few weeks.”

  • “A day after capturing the Chevron Championship during a marathon final round in Houston, Korda announced on social media that she was withdrawing from this week’s JM Eagle LA Championship.”
  • “It was not an easy decision,” she wrote. “After the unbelievable week at the Chevron and grinding through the mental and physical challenges of four events in the past five weeks, I am definitely feeling exhausted. With so much still to come throughout 2024, I feel I need to listen to my body and get some rest, so I can be ready for the remainder of the season.”
Full piece.

3. Scheffler’s impressive No. 1 feat

Golf Channel’s Brentley Romine…”After Scheffler’s victory Monday morning at the RBC Heritage, Scheffler upped his points average to 15.016 and increased his advantage in the Official World Golf Ranking over No. 2 Rory McIlroy to more than double McIlroy’s 7.365 average, meaning Scheffler is ranked further ahead of No. 2 than No. 2 is ahead of the last-ranked player.”

  • “The last time a No. 1 player had a greater points average was Woods, who was at 15.4564 on Dec. 6, 2009. But Woods was less than seven average points ahead of No. 2 Phil Mickelson at the time. Earlier that year, Woods was 7.735 ahead of Mickelson, which is the last time the gap between Nos. 1 and 2 was greater than Scheffler’s current 7.651 advantage.”
Full piece.

4. Zurich field notes

PGATour.com’s Adam Stanley…”Rory McIlroy will make his tournament debut alongside good pal, Ryder Cup teammate, and Irishman Shane Lowry – a duo that was firmed up during a celebratory lunch after the Ryder Cup last fall… Patrick Cantlay and Xander Schauffele will try to reprise their 2022 win here. Cantlay and Schauffele have both the Foursomes and Four-ball scoring records at this event… Davis Riley and Nick Hardy will defend their 2023 title. No team has gone back-to-back… Three sets of brothers (and two sets of twins!) will play together with twins Rasmus and Nicolai Højgaard and Parker and Pierceson Coody in the field along with Alex and Matt Fitzpatrick. Alex Fitzpatrick and Rasmus Højgaard are sponsor invites…”

  • “Billy Horschel, who won last week at the Corales Puntacana Championship, will be without his previous partner Sam Burns, as Burns and his wife are expecting their first child any day. Horschel will instead be paired with fellow University of Florida alum Tyson Alexander. Horschel has won the Zurich Classic when it was both an individual and team event… Other notable pairings include Collin Morikawa and Kurt Kitayama, Sahith Theegala and Will Zalatoris, and Nick Taylor and Adam Hadwin. The Canadian duo finished runner-up a year ago and would like nothing more than to show Presidents Cup International Team captain Mike Weir how well they play together… Steve Stricker will play his second TOUR event this season (after earning his way into THE PLAYERS Championship), teaming up with Matt Kuchar.”
Full piece.

5. Tiger’s teammates

Field Level Media report…”Tiger Woods announced Monday that Max Homa, Tom Kim and Kevin Kisner have joined his Jupiter Links GC TGL team.”

  • “The virtual golf league headed by Woods and Rory McIlroy will begin its inaugural season next January. Woods also unveiled the team’s logo.”
  • “I have already shared my excitement and optimism for TGL as a league and product,” said Woods. “Now that we have finalized our roster with a team of world-class golfers, I am even more confident that this group will proudly represent the Jupiter (Fla.) area and connect with our fans for years to come.”
Full piece.

6. Woosnam questions Cantlay’s decision

Our Matt Vincenzi…”After the horn sounded to suspend play due to darkness, Cantlay, who’s ball was in the fairway on the 18th hole, had a decision to make. With over 200 yards into the green and extreme winds working against the shot, conventional wisdom would be to wait until Monday morning to hit the shot.”

  • “On the other hand, if he could finish the hole, he may just want to get the event over with so he could get out of Hilton Head.”
  • “Curiously, Cantlay chose neither of those options. After hitting 3-wood into the green, and still coming up short, the former FedEx Cup champion chose to mark his ball and chip and putt on Monday morning.”
  • “Ian Woosnam, who was watching from home, took to X to give his thoughts on Cantlay’s decision making.”
  • “Cantlay would end up getting up and down for par when play resumed at 8:00 am Monday morning.”
Full piece.

7. JT on Scheffler’s “weird” equipment choice

Our Matt Vincenzi…”After Justin Thomas’ third round of the RBC Heritage, the two-time major champion went in the broadcast booth alongside the CBS crew.”

  • “While Thomas was watching Scottie Scheffler play on the back nine of his third round, he wondered aloud why Scottie uses high-numbered golf balls.”
  • “Does anybody else think it’s weird that Scottie uses high numbers? I don’t know if I’ve ever seen an elite player use high-numbered golf balls.”
  • “Amanda Balionis who was on the grounds chimed in, reporting that analyst Dottie Pepper had wondered the same thing earlier that day.”
  • “I’ve been going about this wrong my whole life,” Thomas jokingly said.
Full piece.

8. Rory to rejoin PGA Tour policy board

Mark Schlabach for ESPN…”Four-time major championship winner Rory McIlroy is poised to return to the PGA Tour’s policy board, pending a vote by the board, which could come as early as this week, sources confirmed to ESPN on Tuesday.”

  • “One of the PGA Tour’s most vocal supporters during its three-year battle with LIV Golf, McIlroy abruptly resigned as a player director on the tour’s influential policy board in November.”
  • “He is expected to replace policy board player director Webb Simpson, who intends to step away before his two-year term expires in 2025.”
Full piece.

9. Weir names Presidents Cup assistants

PGA Tour report…”International Team Captain Mike Weir announced Ernie Els, Trevor Immelman, Geoff Ogilvy and Camilo Villegas as captain’s assistants for the 2024 Presidents Cup, which will be played at The Royal Montreal Golf Club in Montreal, Canada, Sept. 24-29.

Full piece.
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