The PGA Tour has ended its expensive fight with Saudi Arabia's golf venture and is now joining forces with it. 9News
From the commercial side, the governor of Saudi Arabia's sovereign wealth fund joins the PGA Tour board of directors and leads the new venture as chairman, though the PGA Tour will have a majority stake.The announcement comes a year after LIV Golf began.
One news outlet broke an embargo of the announcement about 30 minutes early and before some players were able to read Monahan's memo to them. Justin Thomas was in the middle of a practice session when he said his phone lit up with notifications.Not getting in on the social media reaction was Rory McIlroy, who spent the past year vehemently defending the PGA Tour against LIV before going quiet on the topic in recent weeks.Phil Mickelson, among the loudest LIV defectors, called Tuesday “an awesome day.”
“Win-win for both tours but it’s a big lose for who defended the tour for last two years,” he tweeted.“Tell me why Jay Monahan basically got a promotion to CEO of all golf in the world by going back on everything he said the past 2 years,” Wu tweeted, adding: “I guess money always wins.” As for the new role of Greg Norman, Al-Rumayyan said only that Norman is LIV Golf's commissioner and details of his future role would be announced in the coming weeks.
Dunne and Ed Herlihy, chairman of the PGA Tour's board, will serve on the board of the commercial venture.
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