PGA Tour, DP World Tour expand and strengthen ‘strategic alliance’; Partnership extended to 2035 | Golf News

The DP World Tour will guarantee growth in annual prize funds for the next five years; PGA Tour to increase its existing stake in European Tour Productions from 15 percent to 40 percent; announcement strengthens ‘strategic alliance’ first unveiled in November 2020

The DP World Tour and PGA Tour have unveiled a ground-breaking new 13-year operational joint venture partnership as part of an extension of the ‘Strategic Alliance’ between the two Tours.

The partnership, running through to 2035, is an expansion of the deal unveiled in November 2020 that result in events co-sanctioned on both Tours and collaboration to help the DP World Tour attain new tournament title sponsors.

As part of the new joint venture, the PGA Tour will increase its existing stake in European Tour Productions from 15 percent to 40 per cent, while utilising the DP World Tour’s recognised international credentials to coordinate a worldwide schedule.

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DP World Tour Executive Keith Pelley claims there has been little fact and plenty of fiction when looking at the reporting surrounding any potential partnerships being made with the LIV Golf Series.

The DP World Tour will guarantee growth in annual prize funds to its membership for the next five years, all above the record levels available in 2022, with the venture set to help establish a clear pathway to help players to have access to both Tours.

Players from the Sunshine Tour and ISPS Handa PGA Tour of Australasia now enjoy a formal pathway to the DP World Tour, while the leading 10 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 from 2023.

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Former Europe Ryder Cup Captain Paul McGinley says that players making ‘u-turns’ on their decisions to join the LIV Tour is damaging for them.

Keith Pelley, chief executive officer of the DP World Tour said: « Building on the success of the existing Strategic Alliance between ourselves and the PGA Tour 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.

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The DP World Tour has sent a strong message to the LIV Golf rebels by suspending and fining players who chose to join the breakaway series.

« 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. »

The Genesis Scottish Open, the Barbasol Championship and the Barracuda Championship are already co-sanctioned between the two Tours, who will work together to drive prize funds and commercial revenue that will benefit the entire range of both memberships.

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PGA Tour Commissioner Jay Monahan says that they can’t compete with the Saudi backed LIV Invitational Series financially in a statement given before the Travelers Championship.

The DP World Tour will work closely on the development and implementation of the new international events announced by PGA Tour commissioner Jay Monahan last week at the Travelers Championship in Connecticut, with their members gaining access to those events.

« 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, » Monahan said.

« We will continue to collaborate on a global schedule and key commercial areas as we draw our organizations and memberships even closer together while innovating to provide the most entertaining and compelling golf possible to fans around the world. »

The announcement comes on the week where the second event of the new Saudi-backed LIV Golf series is scheduled to take place in Portland, where eight of the world’s top 40 – including Bryson DeChambeau and Brooks Koepka – are due to compete.