Additionally, the three organizations said in a joint news release that they will work cooperatively to allow a process for any LIV Golf players to reapply for PGA Tour and DP World Tour membership following the 2023 season.
"After two years of disruption and distraction, this is a historic day for the game we all know and love," PGA Tour Commissioner Jay Monahan said in a joint news release.
"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."
The PGA Tour had sought to fend off competition from LIV by barring PGA Tour players from participating in LIV tournaments.
Some PGA Tour players took to Twitter to express their surprise having not been informed of the agreement before its announcement.
Persons:
Hideki Matsuyama, Mike Segar, LIV, Jay Monahan, Yasir Al, Tour's Monahan, Phil Mickelson, Dustin Johnson, Brooks Koepka, Cameron Smith, Mickelson, Collin Morikawa, Mackenzie Hughes, we’d, Donald Trump, LIV Golf's, Liv Golf, Frank Pingue, Alex Richardson, Christian
Organizations:
Golf, Tour, LIV, Saudi Arabia Public Investment Fund, Public Investment Fund, PGA, Al, Rumayyan, Justice Department, Fame, Twitter, Liv, Thomson
Locations:
Augusta , Georgia, U.S, Saudi, Collin Morikawa ., Toronto