In the end, it may come down to a question of money. The historic rivalry between the PGA Tour and LIV Golf could be nearing an end thanks to a peace deal worth more than $1 billion. Since the launch of LIV in 2022, the PGA Tour has been at odds with the Saudi-backed circuit, imposing bans on players participating in LIV tournaments. However, in June 2023, the PGA Tour surprised by announcing a preliminary agreement with Saudi Arabia's Public Investment Fund (PIF), which seemed to signal the beginning of a truce.
After months of negotiations, the two sides have reportedly reached a formal agreement. According to the British newspaper The Sun, the PIF will invest more than one billion dollars in the PGA Tour, thus acquiring an 11% stake in the American circuit. In addition, PIF will secure two positions on the PGA Tour's board of directors, including the position of chairman.
For players who chose to remain loyal to the PGA Tour and not join LIV, the deal will also bring benefits: a special fund, financed by the PIF, will be set up to reward their loyalty, according to The Mirror. Rory McIlroy, who has been one of LIV Golf's most outspoken critics, was a key player in the negotiations, along with his friend and colleague Tiger Woods.
McIlroy spoke about the deal moving forward last month at the Alfred Dunhill Links Championship. At that tournament, PGA Tour commissioner Jay Monahan participated in the Pro-Am alongside Yasir Al-Rumayyan, chairman of LIV Golf. ‘It may be moving slowly for those who follow golf, but in the business world, deals of this magnitude take time,’ McIlroy said in Scotland. ‘We are talking about billions of dollars at stake and different jurisdictions involved. I hope we can have a concrete agreement before the end of the year.’
McIlroy stressed that events such as the one hosted by Johann Rupert at the Dunhill Links Championship seek to bring the golfing world together and reduce tensions. ‘It's a step in the right direction,’ McIlroy added.
Final approval from the PGA Tour players has yet to be given, but they are expected to support the initiative. After years of rivalry, all signs point to the golfing greats moving closer to a historic reconciliation.
