Golf: the PGA Tour forms a "strategic alliance" with The European Tour and becomes a shareholder

The European Tour, the organization in charge of the professional golf circuit, and the PGA Tour, its North American counterpart, have forged a "strategic alliance" which will allow the two entities in charge of the global golf circuits "explore all facets of collaboration, working together on strategic commercial opportunities including collaborating on global media rights in certain territories," indicated the two authorities on 27/11/2020.

"One element of the partnership which can be confirmed today is the fact that PGA Tour commissioner Jay Monahan will take a seat on the Board of the European Tour. The Tours will also work in partnership on a number of other areas including global scheduling, prize funds and playing opportunities for the respective memberships," explained the two bodies.

"This is not a merger. A merger would only take place if the European Tour had financial difficulties and if such a close rapprochement offered real benefits to our players. We are in a very solid position financially! It would have gone much further than a simple alliance with a minority…