LOS ANGELES: The PGA Tour and LIV Golf have officially motioned to drop their respective lawsuits against each other, reported PA Media/dpa.
The Joint Notice of Dismissal was filed with prejudice, meaning the claims previously made in the two lawsuits cannot be refiled or pursued.
According to Friday’s filing, “all parties bear their own fees and costs”.
The news comes 10 days after the PGA Tour announced it was creating a new commercial entity with the DP World Tour and Saudi Arabia’s Public Investment Fund (PIF), which bankrolls the breakaway LIV Golf League.
Part of the deal was a “mutually-agreed” end to all pending litigation between the various organisations.
An anti-trust lawsuit against the PGA Tour was originally filed last August by 11 players before being taken over by LIV Golf. The PGA Tour then filed a countersuit against LIV.
It is understood that the prospect of lengthy and costly litigation was one of the key factors behind the PGA Tour pursuing a deal that it claims will “reunify” professional golf.
The deal could face several hurdles however, with the United States Senate opening an investigation and Senator Richard Blumenthal writing to PGA Tour chief executive Jay Monahan to say that the PGA Tour’s “sudden and drastic reversal of position concerning LIV Golf” raised “serious questions”.
According to a report in the Wall Street Journal on Thursday, a PGA Tour official informed employees that the US Justice Department also plans to review the agreement for antitrust concerns.-Bernama
