PGA Tour and DP World Tour to merge with golf-related commercial businesses of Public Investment Fund.

PGA Tour, a professional golf tours organizer, and DP World Tour, a sports association, agreed to merge with golf-related commercial businesses of Public Investment Fund, a sovereign wealth fund of Saudi Arabia. Financial terms were not disclosed. “Today is a very exciting day for this special game and the people it touches around the world. We are proud to partner with the PGA TOUR to leverage PIF’s unparalleled success and track record of unlocking value and bringing innovation and global best practices to business and sectors worldwide. We are committed to unifying, promoting and growing the game of golf around the world and offering the highest-quality product to the many millions of long-time fans globally, while cultivating new fans," Yasir Al-Rumayyan, PIF Governor.