The “framework” agreement that united professional golf following the most tumultuous divide the game had seen in decades was, as officials have explained, a broad stroke.
PGA Tour officials turned the agreement over to lawmakers late Monday as part of a review of the deal by Sens. Richard Blumenthal (D-Conn.) and Ron Johnson (R-Wisc.). A copy of the five-page agreement obtained by GolfChannel.com outlines the “long-term strategic partnership” between the Tour, the Public Investment Fund of Saudi Arabia and the DP World Tour.
According to the agreement, the for-profit assets of the Tour, DP World Tour and the PIF (LIV Golf) will be combined into what is tentatively being called NewCo.