PGA Tour x LIV Golf board entities: Who will lead the new commercial entity?

The PGA Tour and LIV Golf are to merge in the coming days to build a globally larger golf platform. The DP World Tour, famously known as European Tour, will also be part of the new unnamed profit company.

Interestingly, the PGA Tour will have major stakes in the new entity, and the PIF (the league's funding organization) will have greater say in financial aspects, as they are the exclusive investor.

Since the inception of the PIF-funded LIV Golf league, there has been tension between them and the PGA Tour. The news of the merger came after the league's Brooks Koepka won the recently concluded 2023 PGA Championship.

According to a press release by the PGA Tour, CEO Jay Monahan announced that the PGA Tour, the LIV Golf, and the DP World Tour are coming together for the betterment of golf.

He started off by saying that after the 'two years of disruption and distraction,' the historic day for the game has finally come. According to Monahan, the legacy of two tours (PGA and DP World) and the pro-competitve model (LIV Golf) will beneft golfers in the long run.

"This transformational partnership recognizes the immeasurable strength of the PGA TOUR’s history, legacy and pro-competitive model and combines with it the DP World Tour and LIV – including the team golf concept – to create an organization that will benefit golf’s players, commercial and charitable partners and fans," Jay Monahan statement.

According to the PGA Tour commissioner's Jay Monahan statement, they promise the fans to deliver best kind of competition collectively. This move will further secure and help in the betterment of the game.

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"We are proud to partner with the PGA TOUR" - PIF Governor Yasir Al-Rumayyan on PGA Tour x LIV Golf merger

The PGA Tour x LIV Golf merger will mean that a new golf platform will be formed. Although the name has not been announced, some of the details are out. The new golf enitity will have board members from all the three tours, including the DP World Tour.

According to the press release, the PIF Governor Yasir Al-Rumayyan also shared his statement on the merger. He is excited for the new journey and feels 'proud to partner with the PGA Tour'.

"We are proud to partner with the PGA TOUR to leverage PIF’s unparalleled success and track record of unlocking value and bringing innovation and global best practices to business and sectors worldwide," said Al-Rumayyan

According to Al-Rumayyan, all the three tours are committed to promote, grow, and unify the game of golf. He feels that the LIV Golf working model is 'positively transformative'. They look forward to maintain the historic integrity and tradition of the sport.

The new entity that will be formed by the merger of the PGA Tour, the LIV Golf, and the DP World Tour will have PIF's Yasir Al-Rumayyan as chairman and the Tour's commissioner, Jay Monahan, will serve as the Chief Executive Officer.

All the three Tours will have their members in the Board of Directors in the new entity. The PIF will have the benefit to 'right of first refusal on any capital'. Since the PGA Tour will have comparatively more members in the Board, they will have higher voting power in the functioning and scheduling.