PGA Tour, European Tour and LIV Golf agree landmark merger

The long-running stand-off in golf ended on Tuesday as the PGA Tour, European Tour and Saudi-backed LIV Golf circuit announced a landmark agreement to merge and form a commercial entity to unify golf.

“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 joint media release.

“This transformational partnership recognises 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 organisation that will benefit golf's players, commercial and charitable partners and fans.”

As part of the deal, the sides are dropping all lawsuits involving LIV Golf against each other effective immediately.

The announcement comes after a year of immense disruption in the men's professional game following the launch of LIV Golf circuit.

PIF, Saudi's sovereign wealth fund, will make capital investment into the combined entity as part of the agreement. The wealth fund will initially be the exclusive investor in the new entity and have the right of first refusal on any capital to be invested.

The tours also said in their announcement that players who were suspended by the PGA Tour or the DP World Tour for playing in LIV Golf events could return as the entities “will work cooperatively and in good faith to establish a fair and objective process for any players who desire to re-apply for membership”.

PIF governor Yasir Al Rumayyan said it was a great day for the sport.

Awesome day today