The PGA Tour has agreed to merge with Saudi-backed rival LIV Golf in a deal that would see the competitors squash pending litigation and move forward as a larger golf enterprise.
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 company.
LIV Golf is backed by the Saudi Arabia Public Investment Fund, an entity controlled by the Saudi crown prince and has been embroiled in antitrust lawsuits with the PGA Tour in the last year.