In a "landmark agreement" announced Tuesday morning, both the PGA and LIV have agreed to a merger with both leagues.
In coming together, both leagues will combine commercial businesses and right into a new not-yet-named for-profit company. Included in this merger is also the DP World Tour.
"After two years of disruption and distraction, this is a historic day for the game we all know and love," said PGA TOUR Commissioner Jay Monahan. "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. Going forward, fans can be confident that we will, collectively, deliver on the promise we've always made – to promote competition of the best in professional golf and that we are committed to securing and driving the game's future."
With this merger, The Public Investment Fund (PIF), which is the financial backer for the LIV tour, will become the new league's first major investor, promising to facilitate and promote growth. In addition, any pending litigation between the two leagues will be dropped as a result of the merger.