The PGA Tour, LIV Golf and the DP World Tour have merged "to unify the game of golf," it was announced Tuesday.
As part of the merger, the Public Investment Fund, which owns LIV Golf, signed an agreement to combine its golf-related commercial businesses and rights with the PGA Tour and the DP World Tour.
The new entity, with the name to be announced, will be a "collectively owned, for-profit entity to ensure that all stakeholders benefit from a model that delivers maximum excitement and competition among the game's best players."