PGA Tour-LIV Golf merger hits speed bump after $1.5 billion rejection

The PGA Tour and Saudi Arabia's Public Investment Fund seemed to be nearing an agreement on the future of professional golf. As The Guardian first reported, however, the PGA is now back to square one after the PIF rejected the PGA's most recent offer to invest $1.5 billion in PGA Tour Enterprises. 

The point of contention in negotiations is simple. PIF wants to keep the LIV Golf League alive as its own enterprise, but PGA Tour Commissioner Jay Monahan wants to unite both leagues into one. PIF also proposed making its governor, Yasir Al-Rumayyan, the co-chairman of PGA Tour Enterprises.

It's easy to understand the arguments for both sides. The PGA Tour wants all the top talent in the world to compete together in the same tournaments more often, whereas PIF is proud of what it's built with LIV Golf and sees a bright future in team golf. 

The two sides won't be able to reach an agreement until they work together to build the future of professional golf. Unifying both leagues while keeping an element of team golf alive could allow the PGA Tour and PIF to make concessions and get a deal done. LIV Golf may have the advantage in negotiations because it believes the league will survive — and thrive — if this merger never happens.