From NBCUniversal:

The PGA Tour and LIV Golf are working to extend their proposed merger deadline, with the goal of reaching agreements with Strategic Sports Group, Public Investment Fund, and DP World Tour for them to be minority co-investors in PGA Tour Enterprises by 2024. Additionally, a coalition of U.S. investors led by Fenway Sports Group called Strategic Sports Group is involved in negotiations. The decision on the combination is expected before the Masters tournament in April. (Words: 84)

The PGA Tour and LIV Golf have agreed to combine commercial operations. If the proposed merger is completed, Saudi Public Investment Fund is prepared to invest $1 billion into the new commercial business. The deal is subject to antitrust scrutiny from the U.S. Federal Trade Commission and Justice Department, which has raised questions around competition and human rights considerations. (Words: 53)

Before the agreement, PGA Tour and LIV were in litigation, as LIV Golf offered large contracts to Tour players, including the signing of world No. 3 player Jon Rahm to a reported $300 million contract. PGA Tour Commissioner Jay Monahan said the Tour would offer direct equity ownership in the new company after reaching a deal with investors and meeting with the chairman of LIV Golf and PIF governor. (Words: 58)



Read more: PGA Tour, LIV Golf working to extend merger deadline into 2024