PGA Tour increases European Tour Productions stake as part of new 13-year partnership with DP World Tour

Golf’s DP World Tour and PGA Tour have announced a new 13-year partnership to stave off competition from the upstart Saudi Arabia-backed LIV Golf.

The partnership, an extension of one first agreed in late 2020, promises to provide players with a better competitive structure with the top ten finishers of the DP World Tour rankings gaining PGA Tour cards. 

The new JV will also see PGA Tour increase its stake in European Tour Productions from 15% to 40%, with the money generated from the deal used to increase prize funds for players. 

A number of high-profile players such as ​​Brooks Koepka and Abraham Ancer have jumped ship to LIV Golf in pursuit of higher pay packets despite facing indefinite bans from the PGA. As such, the existing golf bodies are working to provide players with more incentives not to make the move over to the new competition.

Keith Pelley, CEO of the DP World Tour said: “Building on the success of the existing Strategic Alliance between ourselves and the PGA TOUR, this move will significantly enhance the meritocracy that has successfully served the professional game on both sides of the Atlantic for more than 50 years. It is a natural extension and progression of what we have been doing over the past few years and I passionately believe that this move is the right thing for our players, our Tour, our fans, and the game of golf in general.

Jay Monahan, commissioner of the PGA Tour, said: “It was clear from the outset that our Strategic Partnership with the European Tour Group was a powerful agreement for both sides, and we are thrilled with today’s announcement of this expanded partnership.

“We will continue to collaborate on a global schedule and key commercial areas as we draw our organisations and memberships even closer together while innovating to provide the most entertaining and compelling golf possible to fans around the world. On behalf of the PGA Tour, I want to credit and commend Keith Pelley and his team at the European Tour Group for their incredible commitment to this effort.”