PGA Tour, LIV Golf working to extend merger deadline into 2024

PGA Tour and LIV Golf are working to extend their proposed merger deadline, which was originally set at Dec. 31, Commissioner Jay Monaha told players in a memo on Sunday.

“While we had initially set a deadline of December 31, 2023, to reach an agreement, we are working to extend our negotiations into next year based on the progress we have made to date,” according to the memo obtained by CNBC.

Monahan told players their goal for 2024 is to reach agreements with Strategic Sports Group (SSG), the Public Investment Fund (PIF) and DP World Tour, bringing them on board as minority co-investors in PGA Tour Enterprises.

The PGA Tour recently announced that it was in the final round of negotiations with a coalition of U.S. investors, called Strategic Sports Group. The SSG is led by Fenway Sports Group. Monahan said they have made “meaningful progress” and have provided SSG with the due diligence information they requested.

“These partnerships will allow us to unify, innovate and invest in the game for the benefit of players, fans and sponsors,” he said.

The competing golf leagues are expected to make a formal decision on the combination ahead of the Masters tournament in April, according to The Telegraph, which first reported the extension.

The delay is the latest update in a long and tumultuous saga between the PGA Tour and Saudi Public Investment Fund-backed LIV Golf that has divided players and could dramatically change professional golf if the merger is completed.

The two entities agreed in June to combine commercial operations, shocking the global golf community and raising questions around competition and human rights considerations. Under the structure of the agreement, PGA Tour would hold a permanent controlling interest in…