![]() Still, he acknowledged Tuesday on CNBC that there has been a lot of tensions between the two organizations, but said "the game of golf is better for what we've done today." Monahan said the tour looked at the game of golf "on a global basis," as its seen more growth in the sport outside of the U.S. Monahan also acknowledged the shock and anger triggered by the deal's announcement, saying a meeting with PGA Tour players was "intense" and "heated." ![]() Deal talks started about seven weeks ago, he said later Tuesday. "There is much work to do to get us from a framework agreement to a definitive agreement, but one thing is obvious: through this transformational agreement and with PIF's collaborative investment, the immeasurable strength of the PGA Tour's history, legacy and pro-competitive model not only remains intact, but is supercharged for the future," he wrote in the memo. The agreement - the second stunning sports deal in just months, following World Wrestling Entertainment's merger with Endeavor Group 's UFC - will require the approval of the PGA Tour policy board, Commissioner Jay Monahan said in a memo to players that was obtained by CNBC. PIF is prepared to invest billions of new capital into the new entity, CNBC's David Faber reported Tuesday. The deal announced Tuesday would end all pending litigation. LIV Golf is backed by the Saudi Arabia Public Investment Fund, an entity controlled by Saudi Crown Prince Mohammed bin Salman and has been embroiled in antitrust lawsuits with the PGA Tour in the last year. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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