PGA Tour chief Monahan: 'I understand the criticism. This was the right time to have this conversation' 

Governor of Saudi Arabia’s sovereign wealth fund joins the PGA Tour board of directors and leads the new venture as chairman, though the PGA Tour will have a majority stake.

Jay Monahan, PGA TOUR Commissioner: 'I understand the criticism'

The PGA Tour ended its expensive fight with Saudi Arabia’s golf venture and now is joining forces with it, making a stunning announcement Tuesday of a merger that creates a commercial operation with the Public Investment Fund and the European tour.

As part of the deal, the sides immediately are dropping all lawsuits involving LIV Golf.