The PGA Tour announced on Tuesday that it will merge with LIV Golf, backed by Saudi Arabia's Public Investment Fund (PIF). The American golf tour organizer said the merger will "ensure that all stakeholders benefit from a model that delivers maximum excitement and competition among the game’s best players."
According to the statement, the deal will end the ongoing litigation between the two sides. In addition, the PIF will also make a capital investment into the new entity, with further details to be released after the agreement is finalized.
