PGA Tour sends official framework agreement to US Senate revealing details regarding SHOCKING golf merger
As per the framework released, these new changes will take place after the 2023 schedule comes to an end. PIF Governor Yasir Al Rumayyan is reported to be the Chairman of this new entity with Jay Monahan serving as CEO
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Yasir Al Rumayyan and Jay Monahan (Pic Credit: The Telegraph/Golf Digest)
On Tuesday, June 6th, the world of golf was left speechless as the PGA Tour along with DP World Tour, announced a shock merger with PIF-backed LIV Golf. The tours who had been bitter rivals over the past two years, suddenly decided to come together and bring an end to this war. The top officials of these tours were later asked to explain the merger terms before the Senate. They have now forwarded a 6-page framework.
As per reports from The Athletic, the framework agreement has revealed some major answers to serious questions. According to the document, the deal was signed almost a week earlier on May 30th. This whole agreement process is reported to have taken up to six weeks to reach a decisive conclusion.
The first major reveal was the name of the new entity. Moving forward the tours will collectively play under the name of “NewCo“. This entity will be headed by PIF governor Yassir Al-Rumayyan. Current PGA Tour Commissioner Jay Monahan will serve as the CEO. The top PGA boss was brutally slammed by fans on social media for agreeing to this deal and then taking a medical leave.
A stunning detail in the framework sees no mention of Greg Norman. The 68-year-old veteran currently serves as the CEO of LIV Golf. The future regarding him and his league is also uncertain. However, Norman recently assured the players that the LIV will not be going away and they are looking forward for the next season.
LIV Golf’s future in the hands of new entity board
Following the establishment of LIV Golf, there was parallel shift in the game of golf. The Saudi-backed tour has different rules and formats of the game compared to PGA Tour events. This has led to widespread debate on social media regarding their existence. Two years on from their creation, the future of LIV Golf looks to be in danger.
As per the framework agreement, the future of LIV Golf will be decided by the new entity board which will be controlled by a tour majority. However, it seems unlikely to happen as the board is creating a “Communications Committee“. The aim of this committee is said to help in a fluid “business transition” to navigate and manage business between the tours.
The other point of discussion recently has been the allotment of the Official World Golf Rankings (OWGR) points. As punishment for joining the LIV league, the players on the Saudi-backed tour do not receive these points, which dampens their world ranking. In the agreement, it was mentioned that this matter will also be looked at. “The parties will cooperate in good faith and use best efforts to secure OWGR recognition for LIV events and players,” the statement said.
Meanwhile, players who left for their respective tours will be given a chance to re-apply for the membership. This action will however come into life after the current 2023 season ends. However, this whole deal can be terminated by either side by the end of the current year. If this does happen, it could complicate the situation more than before.
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Vinay Dave
(1812 Articles Published)