The new strategic alliance between the PGA Tour and the European Tour announced Friday will likely have a profound effect on the global golf landscape, not just from a business perspective but on the competitive side as well.
Though the announcement made by European Tour chief executive officer Keith Pelley was long on aspiration and short on details, the result strengthens both tours while likely dealing a critical blow to the prospects for a Premier Golf League, for which discussions had begun.
While Pelley stressed two points – that the move is an alliance and not a merger, and that the European Tour was not motivated by financial distress – the PGA Tour’s investment in the European Tour’s global media rights and subsequent commercial opportunities should benefit both organizations.
It also makes PGA Tour commissioner Jay Monahan a voting member of the European Tour’s board of directors.
While Pelley strongly defended the European Tour against reports that it faces serious financial challenges, he acknowledged the tour had been app...