The PGA Tour and LIV Golf have agreed to merge their assets and create a new entity that would combine their commercial operations and change golf's governance
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The PGA Tour will hold a permanent controlling interest in the new entity's board of directors, and would maintain that majority share regardless of PIF's investments
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The new entity will manage commercial assets for all the tours, while the PGA Tour will manage competitions
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The tentative merger agreement was signed by PGA Tour Commissioner Jay Monahan, DP World Tour CEO Keith Pelley and PIF's Yasir al-Rumayyan
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The merger aims to grow the game and drive its future . All pending litigation, including antitrust lawsuits, has been dropped as part of the merge
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The details of the merger are still incomplete, and many golfers are unhappy with the deal
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The PGA Tour head admits mistakes in the LIV Golf deal rollout but calls the merger with the Saudi-backed tour the right move
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LIV Golf executives say the PGA Tour merger has turbocharged their business and expansion plans
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