A deal announced on Tuesday will see the PGA Tour merging with LIV Golf, which is backed by the Saudi Arabia Public Investment Fund, controlled by the Saudi crown prince.
The PIF is prepared to invest billions of new capital into the new entity, and will at first be the exclusive investor in the blended operation. Jay Monahan, the PGA Tour commissioner, is expected to be the group’s chief executive.
The two entities signed an agreement that would combine the PGA Tour and LIV Golf’s commercial businesses and rights into a new, yet-to-be-named for-profit company. It would also include the European PGA Tour, or DP World Tour.
The peace treaty between the two golf forces will end a litany of pending antitrust litigation, and golfers will be allowed to re-apply for membership with the PGA or DP Tour at the end of the 2023 season.
LIV Golf has been protested by the family members of victims of September 11 attacks in which 15 of the 19 hijackers were from Saudi Arabia. It was concluded that Saudi Arabian nationals funded the al-Qaida terrorist group, but couldn’t find that Saudi officials were complicit in the attacks.
Former Guy has defended the Saudis, claiming that “Nobody’s gotten to the bottom of 9/11.”
On Truth Social, Former Guy weighed in:
“Great news from LIV Golf. A big, beautiful, and glamorous deal for the wonderful world of golf. Congrats to all!!!”