PGA Tour announces landmark merger with Saudi-backed LIV Golf

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Less than a year after PGA Tour commissioner Jay Monahan said that any potential truce with the rival Saudi-backed LIV Golf circuit was "off the table," a landmark merger between the two entities has been formed.

"After two years of disruption and distraction, this is a historic day for the game we all know and love," PGA TOUR Commissioner Jay Monahan, said in a press release.  

"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."

This is a breaking news story. Check back for updates. 

Paulina Dedaj is a Sports Reporter for Fox News Digital.