The agreement also quashes all pending litigation, including an antitrust lawsuit filed by 11 LIV golfers, who accused the PGA of being an unfair monopoly on the sport after the league suspended 17 players for defecting to LIV.
into whether PGA engaged in anticompetitive practices by attempting to block players from joining the deep-pocketed Saudi circuit. The timeline for the completion of that probe remains unclear.
Tuesday’s merger announcement said the Saudi Public Investment Fund will initially be the exclusive investor in the new merged entity. Current governor of the wealth fund, Yasir Al-Rumayyan, will serve as chairman of the entity’s board of directors, and PGA Tour Commissioner Jay Monahan will be CEO. PGA will appoint a majority of the board and hold a “majority voting interest” in the entity.
“After two years of disruption and distraction, this is a historic day for the game we all know and love,” Monahan said in the statement. “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.”
The leagues said they will “work cooperatively and in good faith” to outline a 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.”Ex-president Donald Trump, who has backed LIV and hosted several tournaments at his golf courses, had his own thoughts on the merger.
“GREAT NEWS FROM LIV GOLF. A BIG, BEAUTIFUL, AND GLAMOROUS DEAL FOR THE WONDERFUL WORLD OF GOLF,” Trump
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