A newly obtained document outlines how the PGA Tour, LIV Golf and the DP World Tour will establish a for-profit LLC.
On June 6, a shocking announcement was made by the PGA Tour sending reverberations around the golf world. The organization, along with Saudi’s Arabia’s Public Investment Fund and the DP World Tour , had signed an agreement to combine PIF’s golf-related commercial businesses and rights – including the Saudi-backed LIV Golf series – with the commercial businesses and rights of the PGA Tour and DP World Tour into a new, collectively owned, for-profit entity.
When contacted by CNN on Tuesday, the PGA Tour said in a statement: “The framework outlines a future for professional golf under the PGA TOUR’s leadership that benefits players, fans and the sport. “Following the recent resolution of litigation, we’re working towards a definitive agreement. Any potential agreement resulting from these negotiations will have to be approved by the full board of the PGA TOUR, including our player directors.
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