In the week that LIV Golf prepares to stage its second event, the DP World Tour and PGA Tour have “strengthened and expanded” their strategic alliance.
The two organisations have unveiled a new 13-year operational joint venture partnership, effective through to 2035, which builds upon the existing “strategic alliance between the two tours which was originally unveiled in 2020.
Under the terms of the new agreement, the PGA Tour will increase its existing stake in European Tour Productions from 15% to 40%.
The DP World Tour will also guarantee growth in annual prize funds to its membership for the next five years, all above the record 2022 levels unveiled as part of the DP World Tour title partnership arrangement announced last November.
Perhaps most significantly, the leading ten players on the end of season DP World Tour Rankings – in addition to those already exempt – will earn PGA Tour cards for the following season.
“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,” said DP World Tour chief executive Keith Pelley.
“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.
“Our two tours have undoubtedly drawn closer over the past few years and today’s announcement strengthens both Tours for the betterment of both memberships.”
Jay Monahan, commissioner of the PGA Tour, added: “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.
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“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.”