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Pga Tour officials winners and Saudi Arabia’s runners ups sovereign wealth fund said the rivals had agreed to create a “new, collectively owned, for-profit entity.” The partnership is a major victory for the kingdom’s sports ambitions. This is PGA tour schedule.

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Here is the on the PGA-LIV Golf .

The PGA Tour and LIV Golf, the insurgent league bankrolled by billions of dollars from Saudi Arabia’s sovereign wealth fund, said on Tuesday that they had agreed to a merger, ending a bitter and costly fight for supremacy of men’s professional golf that had divided top players, everyday fans and corporate sponsors.

The merger represented the most stunning success to date of Saudi Arabia’s ambition to become a player in global sports. Yet unlike its purchase of a Premier League soccer team or its sponsorship of events as diverse as boxing cards and Formula 1 auto races, its billion-dollar play for control of golf seemed from the start like nothing less than an attempt to seize control of an entire sport — one that in the United States has occupied a rarefied place in the sports firmament for more than a century.

LIV Golf had sparked pga Tour schedule, which has scrambled to reinvent its economic model as it has watched some of its biggest stars switch circuits. But LIV itself has also been a target of fierce criticism, immense skepticism and bitter litigation. Although much about the circuit’s operations remains unclear — many documents that would reveal details are under court seal — some information about its structure and its operations has emerged in legal filings, interviews, business records and internal documents reviewed by The New York Times. And some LIV critics contend that the sovereign wealth fund is using sports to distract from Saudi Arabia’s record of human rights abuses.

Now, by merging with the PGA Tour, LIV Golf has gained a foothold that guarantees it outsize influence in the game’s future after a long struggle to break through, especially in the United States, where the PGA Tour has long dominated men’s professional golf. The governor of the Saudi state entity bankrolling LIV, the Public Investment Fund, will become chairman of the new golf organization, which was created so quickly that it was announced before it even had a name.

Here are a few other notable parts of the deal:

  1. The Public Investment Fund also will have right of first refusal on new investments in the merged tour, according to the statement announcing the merger.
  2. In a joint statement on Tuesday, the wealth fund and the PGA Tour said the former rivals would “implement a plan to grow these combined commercial businesses, drive greater fan engagement and accelerate growth initiatives already underway.”
  3. In a statement, Jay Monahan, the PGA Tour commissioner, said, “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.”
  4. Under the terms of the tentative agreement, the Public Investment Fund will at first be the exclusive investor in the blended operation, along with the established tours, which includes the DP World Tour, and LIV. Monahan is expected to be the new group’s chief executive, with Yasir al-Rumayyan, the wealth fund’s governor, installed as its chairman.

Merger doesn’t end the U.S. antitrust inquiry into the PGA Tour.

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What does this merger mean for the Department of Justice’s antitrust inquiry into the PGA Tour? In short: Not much.

For about a year, cheered on by LIV Golf, the Justice Department has been investigating the tight-knit relationship between the PGA Tour and other powerful entities in golf, and whether there has been any collusion within the Official Golf World Rankings. A number of high-profile LIV players, like Phil Mickelson, have been interviewed in the inquiry, and lawyers representing the PGA Tour met with Justice Department officials in Washington as recently as last month.

But while Tuesday’s merger will end litigation between LIV and the PGA Tour, it will not necessarily change the Justice Department’s case. The department’s inquiry has looked into allegations of past conduct; if there was any illegal conduct, a merger does not prevent the PGA Tour from being punished for it.

“The announcement of a merger doesn’t forgive past sins,” said Bill Baer, who led the Justice Department’s Antitrust Division during the Obama administration.

In fact, the merger could cause the Justice Department to even more closely scrutinize the PGA Tour, for a separate but related reason.

The federal government, through the Department of Justice and the Federal Trade Commission, reviews over 1,000 mergers for approval each year. It is not yet clear which agency will lead the review of the PGA Tour and LIV’s proposed merger, but if it is the Justice Department, it will certainly scrutinize what looks to be on its face “a merger to monopoly, eliminating competition between these two competing professional golf organizations,” Baer said.

The Department of Justice declined to comment on the merger announcement.

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