Legal and Illegal Monopolies: Why the PGA-LIV Merger Will Not Survive Regulatory Scrutiny
On June 6, 2023, three established professional golf entities announced a landmark agreement "to unify the game of golf, on a global basis." However, the legal infirmities plaguing this proposed agreement are not subtle, and it has drawn the attention of the Department of Justice, Antitrust Division.
October 13, 2023 at 04:35 PM
9 minute read
On June 6, 2023, the three established professional golf entities—PGA Tour (PGA), DP World Tour and the Public Investment Fund (PIF)—announced a "landmark agreement" "to unify the game of golf, on a global basis. The parties have signed an agreement that combines PIF, PGA Tour and DP World Tour into a new, collectively owned, for-profit entity to ensure that all stakeholders benefit from a model that delivers maximum excitement and competition among the game's best players."
While the announcement was light on detail and the agreement has yet to be finalized, the language suggests a merger among all three golf entities. For the purposes of antitrust analysis, we will assume that a triple merger is intended.
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