In a pact that puts an end to the bitter division in the game, the PGA Tour and DP World Tour have decided to unite with the Saudi Arabian-supported circuit LIV Golf.
The unexpected news follows a year of unheard-before upheaval in the men's game due to the introduction of LIV.
It indicates that any ongoing legal disputes between the tours will be put on hold and that they will continue as a single business.
The PGA Tour, golf's top professional tour, commissioner Jay Monahan declared, "This is a historic day for the game."
The PGA Tour and LIV's commercial activities and rights will be combined under a new, yet-to-be-named for-profit entity under the terms of an agreed deal.
The DP World Tour, formerly the European Tour, is covered under the agreement.
The LIV circuit's rise over the past year has shattered the men's professional golf market, luring several great players with its enormous prize money and no-cut competitions that feature a team concept.
The Saudi Arabia Public Investment Fund (PIF), an organization under the supervision of the Saudi crown prince that has been involved in antitrust litigation with the PGA Tour for the past year, is the financier of LIV Golf.
"To partner in this new entity is energizing and exciting. This is a momentous day," DP World Tour CEO Keith Pelley remarked.
How will golf change going forward?
The team component of LIV's concept will continue to exist in some capacity going ahead, according to Monahan, his PGA Tour counterpart.
The majority owner of Premier League team Newcastle United and Yasir Al-Rumayyan's employer, the Saudi PIF, is headed by Al-Rumayyan.
Al-Rumayyan will serve as chairman of the board of the new business entity, and Monahan will serve as CEO.
The DP World Tour, LIV, and team golf concept are combined with the PGA Tour's history, legacy, and pro-competitive model in this transformative partnership, which will benefit players, partners, and fans, according to Monahan.
"I commend Yasir Al-Rumayyan for his vision, teamwork, and forward-thinking attitude, which not only fills the gap in our game but also demonstrates a dedication to elevating it to new levels. The world of golf will enter a new age as a result, for the better.
According to Norman, LIV Golf is planning a women's tour.
All parties will strive to finalize the parameters of the agreement in the upcoming months, it was stated in a joint press release.
"We are dedicated to uniting, promoting, and expanding the game of golf around the world and providing the highest-quality product to the many millions of devoted fans around the world while also cultivating new fans," Al-Rumayyan added.
"There is no denying that golf has positively changed as a result of the LIV concept. We think there are potential for the game to change while still upholding its rich tradition and history.
Why was legal action taken?
Prior to being taken over by LIV Golf, an antitrust case against the PGA Tour was initially launched by 11 golfers in August of last year. The hearing was slated to take place in 2024.
The DP World Tour won its legal case in April against 12 LIV players who participated in LIV Golf events without the Tour's approval, committing "serious breaches" of the rule of conduct.
Lee Westwood, Sergio Garcia, Ian Poulter, and Henrik Stenson were forced to resign from their memberships and lose their eligibility for this year's Ryder Cup, which will be held from September 29 to October 1, as a result of the escalating fines and suspensions.
Stenson had been chosen as the European team's captain for the games in Rome, but when he joined LIV, he was fired and Luke Donald took his place.
With the new company promising to set up a "fair and objective process" for players to reapply for membership at the conclusion of current season, those players may now rejoin the team.
What has the response been?
The most recent LIV competition took place at Donald Trump's Sterling, Virginia, golf course.
On social media, the former US president posted: "Great news from LIV Golf. a significant, gorgeous, and elegant event for the fantastic world of golf. Congrats to everyone.
a six-time major champion One of the first well-known figures to switch to LIV was Phil Mickelson, who added: "Awesome day today."
Michael Kim, an American golfer, said, "What the hell is going on? It's interesting how many individuals were aware of this transaction. about 5-7 individuals? Right, it's a player-run organization.
Why is Saudi Arabia's participation in sports contentious?
PIF acquires four football clubs in Saudi Arabia
Analysis: "Not likely to be well received by the PIF's detractors."
Iain Carter, a BBC golf correspondent
This is a spectacular development that completely surprised the golf community. The LIV circuit, which had stolen some of their finest players, was despised by the PGA and DP World Tours.
They engaged in contentious and costly legal action because they saw Greg Norman's breakaway tour as an existential danger. But the thought of being questioned while being sworn in throughout the discovery process was making things uncomfortable for LIV's Saudi Arabian supporters.
The PGA Tour had already depleted its reserves and was anticipating significant costs to support a series of $20 million (£16.1 million) tournaments introduced to compete with its new rivals.
In a sport that could ill afford to be divided in the first place, there was a sizable peace dividend for all sides. The PGA and DP World Tours' astounding backtracking in describing LIV as "positively transformative for golf" is remarkable.
However, this agreement seems to indicate that Saudi Arabia's enormous money will serve as a uniting factor for the men's professional game. Critics who have viewed the PIF's connection with LIV as nothing more than sportswashing for a kingdom whose record on human rights is frequently questioned are not likely to take kindly to that.
It remains to be seen how this will change the game, but everyone will be relieved that the prospect of legal action is no longer present. Players of LIV now have a way to rejoin a more cohesive game.
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