LIV Golf & PGA Tour closing a deal at $1.3 billion - Reports
The final thaw in the years-long rivalry between the PGA Tour and LIV Golf is reportedly close to being finalised at a staggering $1.3 billion deal. A renewed round of meetings had taken place between the two leagues since September this year and now it seems they are coming to an agreement.
According to The Sun UK, the deal is awaiting final approval. Apparently, LIV Golf will play under the PGA Tour umbrella and will receive an 11% stake in the league. PGA Tour veterans, Tiger Woods and Rory McIlroy, who were once staunch critics of the Saudi-backed circuit have played key roles in getting the deal done, according to reports.
However, it is important to note that no credible source has confirmed this news yet.
As per The Mirror, Saudi Arabia's PIF that funds LIV Golf will also get two positions on the PGA Tour board, including the role of the chairman. Further, PGA Tour players who remained loyal to the tour by rejecting lucrative offers, will receive rewards as well. They will be given through a fund that will be set up by the PIF. The DP World Tour is also expected to benefit from this deal as its strategic alliance with the PGA Tour will aid them in getting a financial boost.
If this deal has indeed been successfully brokered, then it would be a revolutionary move in golf.
"Everyone's looking out for themselves and their best interests" - When Rory McIlroy spoke about a possible LIV Golf - PGA Tour merger
When the LIV Golf was first introduced in 2022, Rory McIlroy was one of the loudest and strongest voices to speak against the breakaway league. However, over the span of two years, his opinion has completely changed.
In fact, it is being reported that Rory McIlroy along with Tiger Woods helped broker a peace deal between the two opposing leagues. This 'Framework Agreement' had been in the works since the past year but showed no conclusion. Ahead of the BMW PGA Championship at Wentworth this year, the Northern Irish gofler spoke about the obstacles in the deal. He said (via Irish Star):
"I'd say maybe half the players on LIV want the deal to get done; half probably don't. I'd say it's probably similar on the PGA Tour. Just like anything, everyone's looking out for themselves and their best interests."
He added:
"You know, it would benefit some people for a deal not to get done, but it would obviously benefit some people for a deal to get done. Yeah, I think there's different opinions amongst the players about what should happen."
However, if the current reports are to be believed, a deal is almost confirmed between the two leagues.