The PIF will help finance a new for-profit entity that will house the PGA and LIV.
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That being said, the PGA Tour will appoint a majority of the board, and hold a majority interest in the new commercial venture. The PGA Tour and LIV Golf had been an extended feud, with the startup poaching high-profile PGA golfers with guaranteed contracts. LIV filed an antitrust suit against the PGA Tour, and the PGA countersued arguing that the PIF is really running LIV’s day-to-day operations.
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