Everyone Is Rich, No One Is Happy. The Pro Golf Drama Is Back

Upon LIV’s noisy launch in June 2022, much of the golf establishment painted Al-Rumayyan as a shadowy, malevolent force hellbent on destroying the Tour, a proud American institution. Last June he roiled the sports world with a stunning armistice, agreeing to drop the antitrust lawsuit LIV had filed against the Tour and, through a vaguely worded “framework agreement,” pledging the PIF as a minority investor in a new for-profit business that would come to be called PGA Tour Enterprises. This entity would transform the Tour, historically a 501(c)(6) nonprofit. Among other benefits, PGATE would be able to dole out equity as a reward to the players who’d stayed loyal while many colleagues were lured away by LIV’s lucre.