The most disruptive year in golf ended Tuesday when the PGA Tour and European tour agreed to a merger with Saudi Arabia's golf interests, creating a commercial operation designed to unify professional golf around the world.
As part of the deal, the sides are dropping all lawsuits involving LIV Golf against each other effective immediately.
Still to be determined is how players like Brooks Koepka and Dustin Johnson, who defected to Saudi-funded LIV Golf for nine-figure bonuses, can rejoin the PGA Tour after this year.
Also unclear was what form the LIV Golf League would take in 2024. Commissioner Jay Monahan said in a memo to players that a thorough evaluation would determine how to integrate team golf into the game.
The agreement combines the Public Investment Fund's golf-related commercial businesses and rights — including LIV Golf — with those of the PGA and European tours. The new entity has not been named.
“They were going down their path, we were going down ours, and after a lot of introspection you realize all this tension in the game is not a good thing,” Monahan said in a phone interview with The Associated Press.
“We have a responsibility to our tour and to the game, and we felt like the time was right to have that conversation.”
Yasir Al-Rumayyan, the governor of Saudi Arabia’s sovereign wealth fund, will join the board of the PGA Tour, which continues to operates its tournaments. Al-Rumayyan will be chairman of the new commercial group, with Monahan as the CEO and the PGA Tour having a majority stake in the new venture.
The PIF will invest in the commercial venture.
Monahan said the decision came together over the last seven weeks.
The 2022 NBA playoffs are intensifying as four teams vie for an NBA finals berth. Tonight, Stephen Curry and the Golden State Warriors can book their finals ticket with a win over the Dallas Mavericks, while Miami will be feeling the 'heat' tomorrow night, facing elimination against the Boston Celtics.
And with the growing popularity of sports betting, the NBA playoffs offers a potential money-making opportunity for fans. Trysta Krick, host of BetMGM Tonight, joins Cheddar News' Closing Bell to discuss.
Indianapolis Colts owner Jim Irsay is displaying his world-renowned collection of historic memorabilia to the public for the first time in the Big Apple. Irsay joined Cheddar News to talk about why he's bringing artifacts from the Beatles to Jerry Garcia to light now. "I borrow all this stuff, you know, and I just feel kind of an obligation to share it with the public and make it come alive if you will," he said.
Ryan Hammond, Executive Director of the Eagles Autism Foundation, joins Cheddar News' Closing Bell, where he explains how the Eagles Autism Challenge came together and how the entire organization, beginning with team owner Jeffrey Lurie, has been able to raise autism awareness to new levels.
Alex Glaze and Trysta Krick tell viewers which NBA wagers will be a slam dunk while Gabe Lacques steps into the batter's box with his best picks for MLB Opening Day.
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Alex Glaze and Trysta Krick provide their winning strategies for betting on the end of the NBA Play-In Tournament and the start of the playoffs, while Minty Bets breaks down Thursday night's MLB slate and pitches her top picks.
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Alex Glaze and Michael Jenkins size up Saturday's Final Four matchups while David Salituro tells us what to expect - and who to bet on - when it comes to MLB Opening Day and the Masters Tournament.
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Olivia Harlan Dekker, Alex Glaze and ESPN College Gameday analyst LaPhonso Ellis deliver their top plays for the Round of 16 of the NCAA Tournament, with Glaze also discusses what Kyrie Irving's eligibility for home games means for the Nets title chances.
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Olivia Harlan Dekker, Alex Glaze, and Sean Green provide viewers with all the intel they need to place winning bets and dominate their brackets during the NCAA Tournament, ranging from breakout performers, most likely upsets, and who will win it all.
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With Selection Sunday just days away, Olivia Harlan Dekker and Tyler Fulghum break down Thursday night's action and the outlook for several key conference tournaments. Meanwhile, Alex Glaze dishes out his top plays for a star-studded Thursday night NBA doubleheader.
Sports Betting in the U.S. is booming. According to industry experts, we could see another boom this year as more states move towards statewide legalization of sports wagering. While this comes as huge news for fans, there are some very real concerns as to whether or not sports betting potentially poses a threat to public health. Senior Clinician at the Caron Treatment Centers, Eric Webber, joined Cheddar to discuss more.
