PGA Tour, LIV Golf, DP World Tour agree to merger, “new commercial entity”

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In a surprise announcement Tuesday, the PGA Tour and LIV Golf have agreed to a merger.

From a joint PGA Tour, DP World Tour release: "The parties have signed an agreement that combines PIF's golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, collectively owned, for-profit entity…"

Saudi Arabia's sovereign wealth fund-backed LIV and the PGA Tour have been enmeshed in months of litigation, all of which will now end, according to the release. Additionally, players who departed the PGA and DP World Tours for LIV will be offered a "fair and objective process…to re-apply for membership."

The DP World Tour is also included in the agreement. All parties will combine commercial and business rights in a yet-to-be-named for-profit company.

Terms of the deal were not disclosed.

PGA Tour commissioner Jay Monahan is scheduled to meet with players — who were sent a memo Tuesday morning — at the RBC Canadian Open.

This is a developing story.

The PGA Tour's full statement is below.

"The PGA TOUR, DP World Tour and the Public Investment Fund (PIF) today announced a landmark agreement to unify the game of golf, on a global basis. The parties have signed an agreement that combines PIF's golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, 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.

"In addition, PIF will make a capital investment into the new entity to facilitate its growth and success. The new entity (name TBD) will implement a plan to grow these combined commercial businesses, drive greater fan engagement and accelerate growth initiatives already underway. With LIV Golf in the midst of its second, groundbreaking season, the PGA TOUR, DP World Tour and PIF will work together to best feature and grow team golf going forward.

"Notably, today's announcement will be followed by a mutually agreed end to all pending litigation between the participating parties. Further, the three organizations will work cooperatively and in good faith to establish a fair and objective process for any players who desire to re-apply for membership with the PGA TOUR or the DP World Tour following the completion of the 2023 season and for determining fair criteria and terms of re-admission, consistent with each Tour's policies.

"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.

"We are pleased to move forward, in step with LIV and PIF's world-class investing experience, and I applaud PIF Governor Yasir Al-Rumayyan for his vision and collaborative and forward-thinking approach that is not just a solution to the rift in our game, but also a commitment to taking it to new heights. This will engender a new era in global golf, for the better."

"Today is a very exciting day for this special game and the people it touches around the world," said PIF Governor Yasir Al-Rumayyan. "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. We are committed to unifying, promoting and growing the game of golf around the world and offering the highest-quality product to the many millions of long-time fans globally, while cultivating new fans.

"There is no question that the LIV model has been positively transformative for golf. We believe there are opportunities for the game to evolve while also maintaining its storied history and tradition. This partnership represents the best opportunity to extend and increase the impact of golf for all. We look forward to collaborating with Jay and Keith to bring the best version of the game to communities around the world."

"Under the terms of the agreement, the Board of Directors of the new entity will oversee and direct all the new entity's golf-related commercial operations, businesses and investments. The new entity will work to ensure a cohesive schedule of events that will be exciting for fans, sponsors and all stakeholders. PIF will initially be the exclusive investor in the new entity, alongside the PGA TOUR, LIV Golf and the DP World Tour. Going forward, PIF will have the exclusive right to further invest in the new entity, including a right of first refusal on any capital that may be invested in the new entity, including into the PGA TOUR, LIV Golf and DP World Tour. The PGA TOUR will appoint a majority of the Board and hold a majority voting interest in the combined entity.

"Separately, PGA TOUR Inc. will remain in place as a 501(c)(6) tax exempt organization and retains administrative oversight of events for those assets contributed by the PGA TOUR, including the sanctioning of events, the administration of the competition and rules, as well as all other "inside the ropes" responsibilities, with Jay Monahan as Commissioner and Ed Herlihy as PGA TOUR Policy Board Chairman. PIF's Governor Yasir Al-Rumayyan will join the PGA TOUR Policy Board. The DP World Tour and LIV Golf will retain similar administrative oversight of events on their respective Tours.

"The Board of Directors of the new commercial entity will include Al-Rumayyan as Chairman and Monahan as Chief Executive Officer; the new entity's Board will also include an Executive Committee comprising Al-Rumayyan, Monahan, Herlihy and PGA TOUR Policy Board member Jimmy Dunne. The full Board will be announced at a later date, and it is anticipated that all three founding members will have representation.

"Keith Pelley, Chief Executive of the DP World Tour, said "This is a momentous day. We are delighted to be able to not only reignite our relationship with PIF, but also to have the opportunity to build on our current Strategic Alliance partnership with the PGA TOUR. Together we will be stronger than ever and well positioned to continue to bring the game to all corners of the globe. To partner in this new entity and influence the growth of the game for all our DP World Tour members is energizing and exciting."

"All parties will work in the months to come to finalize terms of the agreement, with details to be announced in due course."

Spotted: New Aldila Rogue shaft at the BMW Charity Pro-Am (Korn Ferry Tour)

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Golfers on professional tours use a wide range of wedge lofts to hit the shots they need in order to score well. Not many of us amateurs go with a high-lofted lob wedge like Joey Garber's 64-degree Vokey. His Vokey is a prototype but there was a 64 W Grind that was available to us in a limited edition through Vokey's WedgeWorks program. The W Grind offers a wider, low-bounce, sole for firm conditions and courses with lots of elevated greens.

Vokey describes the 64 W Grind

"The 64W is a unique wedge made for players who play in firm conditions, golf courses with elevated greens and tricky short-sided lies. This wedge is made for the player with quick hands who likes to see the ball elevate quickly, the fearless player who isn't afraid to attack any pin. The sole is a medium-width sole with slight camber and an effective bounce of 4°."

It looks like Garber's wedge might have a little more bounce than the retail model as we see a "9" stamped in the Proto stamping on the toe. He has also gone with what looks like a raw steel finish over the retail model's black finish.

A Mitsubishi MMT Scoring Wedge 125 TX is the shaft of choice and the wedge is finished off with a Golf Pride Tour Velvet Cord grip.

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For comments: [email protected]

Good Tuesday morning, golf fans. Anything happening in the world of professional golf?

The AP's Doug Ferguson…"The PGA Tour ended its expensive fight with Saudi Arabia's golf venture and now is joining forces with it, making a stunning announcement Tuesday of a merger that creates a commercial operation with the Public Investment Fund and the European tour."

From the Tour…"The PGA TOUR, DP World Tour and the Public Investment Fund (PIF) today announced a landmark agreement to unify the game of golf, on a global basis. The parties have signed an agreement that combines PIF's golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, 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."

Padraig Harrington: Surprised that this merger has happened so quickly but not surprised it's happened. Definitely in the financial interest of both sides. Definitely in the financial interest of the players even though some of those who gain will feel like they’re losing. Good for the cohesion of global golf.

Collin Morikawa: I love finding out morning news on Twitter

Mackenzie Hughes: Nothing like finding out through Twitter that we’re merging with a tour that we said we’d never do that with.

Byeong Hun An: I’m guessing the liv teams were struggling to get sponsors and pga tour couldn't turn down the money. Win-win for both tours but it's a big lose for who defended the tour for last two years

Ryan Young for Yahoo…"After making the announcement, Monahan flew to Toronto to hold a players meeting at Oakdale Country Club, where the RBC Canadian Open is being played this week."

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Our tour photographer was out at the BMW Charity Pro-Am on the Korn Ferry Tour and snapped some shots of a new Aldila Rogue wood shaft. The Rogue name has been synonymous with cutting-edge technology and tour use since it was released almost 10 years ago. Aldila hasn't given us any details yet, but the shaft has been available in Japan for a few months.

The logo looks to be the image for "infinity" after the Rogue text, so that could be a clue to a future name for the shaft. I did some searching and found some specs from a listing for a Japan version of the shaft, so these might change by the time we get the shafts here in the United States. There is also a logo for a "Dual Torque Core" technology that was described as an "ultra high modulus carbon for the entire length of the shaft." The description was a little washy on the launch of the shaft as part of it described the Rogue as a mid-launch while another section stated high launch and low spin.

50TR: Weight 58.5 / Torque 4.650TS: Weight 60.5/Torque 4.550TX: Weight 61.0/Torque 4.5

60TS: Weight 65.0/Torque 3.960TX: Weight 67.0/Torque 3.9

70TS: Weight 74.0/Torque 3.170TX: Weight 76.0/Torque 3.1

80TX: weight 84.5/torque 3.1

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