On Tuesday morning, the golf world was shocked by news that the PGA Tour had agreed to a merger with the Saudi owned LIV golf league. Professional golf is now essentially owned and controlled by Saudi Arabia who will move the tour to a global stage, taking money away from American markets and towns. PGA Tour Commissioner Jay Monahan had previously fought a war against the LIV league who poached players from the PGA and even went as far as to connect the league and the players who joined it to the attacks on 9/11. On Monday Monahan went on CNBC with Yasir Al-Rumayyan, the governor of Suadia Arabia’s $620B investment fund and right hand man of the Saudi Crown Prince, to announce the merger.
According to CNN:
The two rival tours have since been involved in a series of legal disputes, with all pending litigation mutually ended under the new agreement. “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.
Monahan described the deal as a “transformational partnership,” that would “benefit golf’s players, commercial and charitable partners and fans.” He praised PIF Governor Yasir Al-Rumayyan, saying his “vision and collaborative and forward-thinking approach” was not only a solution to the division within the sport but also a “commitment to taking it to new heights.”
“This will engender a new era in global golf, for the better,” he added. The emergence of the LIV Golf, offering huge prize money and guaranteed earnings across substantially fewer events than the PGA Tour, led to distinct fractures within the sport.
PIF pledged to award $250 million in total prize money for the tour’s inaugural season. Of the $25 million offered at each of the first seven events, $20 million was a guaranteed split between players.
Golf fans will see the PGA Tour’s move as hypocritical after they painted LIV as a form of sports washing by Saudi Arabia. Monahan and other Tour officials told players that they should not be bought out by Saudi money but it looks as though they have done just that.
