The golf war has finally teed off into the sunset, with LIV Golf and the PGA Tour striking a $1.3 billion deal to end their 17-month love-hate relationship.
Meanwhile, The Sun UK reports that the PGA Tour and LIV Golf, backed by Saudi Arabia’s Public Investment Fund, are just a signature away from making it official.
Word is, LIV Golf is poised to secure a significant 11% share of the PGA Tour’s revenue and operate its events under the PGA Tour’s prestigious banner, thanks to the instrumental efforts of Tiger Woods and Rory McIlroy in brokering this deal. Additionally, LIV Golf will gain two influential seats on the PGA Tour board, including a leadership position.
However, it remains to be seen whether golfers will be allowed to participate in both LIV Golf League and PGA Tour events, or if LIV Golf events will earn Official World Golf Ranking Points under the PGA Tour’s umbrella.
PGA Tour supporters can anticipate benefits from Saudi Arabia’s Public Investment Fund. Furthermore, the DP World Tour is set to benefit from the $1.3 billion deal through its strategic alliance with the PGA Tour, likely leading to increased prize funds.
The only step left is to obtain approval from PGA players, which seems highly likely.