General view of the 18th green during the Pro-Am Paul Childs/Action Images/Reuters Golf - The inaugural LIV Golf Invitational - Centurion Club, Hemel Hempstead, St Albans, Britain - June 8, 2022 The PIF is a sovereign wealth fund chaired by Mohammed bin Salman, the Crown Prince of Saudi Arabia, known by his initials MBS. The LIV Golf series, backed by Saudi Arabia’s Public Investment Fund (PIF), officially launched in June 2022, with participating players subsequently barred from competing in PGA Tour events. The journey continues!!” LIV Golf CEO and two-time major winner Greg Norman tweeted. “A great day in global golf for players and fans alike. Throughout the interview, the commissioner repeatedly referred to the new relationship as a framework agreement that resulted from seven weeks of talks. Anytime I said anything, I said it with the information that I had at that moment, and I said it based on someone that’s trying to compete for the PGA Tour and our players.”Ī spokesperson for the PGA Tour told CNN that the new relationship between the PGA Tour, DP World Tour (formerly known as the European Tour) and LIV Golf is not a merger, but “a partnership/creation of a new commercial entity.” When asked what changed his position on the PGA Tour accepting the money from Saudi Arabia, Monahan said, “I recognize that people are going to call me a hypocrite. PGA Tour commissioner Jay Monahan, speaking after what he described as a heated meeting with golfers, told reporters at the Canadian Open in Toronto that the Tour and LIV Golf were “better off together than we were fighting or apart.” “The parties have signed an agreement that combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA Tour and DP World Tour into a new, collectively owned, for-profit entity,” the statement read. The PGA Tour made the shock announcement on Tuesday, saying a new partnership with LIV and the DP World Tour would “unify the game of golf.”
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The US-based PGA Tour is set to partner with the Saudi-backed breakaway LIV Golf, ending a feud that has dogged the men’s professional game for the past year.
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