PGA Tour flags for the first round of the Korn Ferry Tour Bahamas Great Exuma Classic at Sandals Emerald Bay Golf Course on January 12, 2020 in Great Exuma, Bahamas.
Ben Jared | PGA Tour via Getty Images
The PGA Tour has agreed to merge with Saudi-backed rival LIV Golf in a deal that would allow the rival to squelch pending litigation and move forward as a larger golf business.
The two entities signed an agreement to combine the commercial operations and rights of the PGA Tour and LIV Golf into a new, as-yet-unnamed company.
LIV Golf is backed by Saudi Arabia’s Public Investment Fund, which is controlled by the crown prince and was embroiled in an antitrust lawsuit with the PGA Tour last year. The deal announced Tuesday will end all pending litigation.
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