The PGA Tour and LIV Golf are collaborating to prolong the merger deadline until 2024.

• The PGA Tour and LIV Golf are seeking to postpone their merger deadline, which was initially set for December 31st.
• The latest update in the ongoing conflict between the PGA Tour and the Saudi Public Investment Fund-backed LIV Golf is the delay.
• The PGA Tour is currently in the final stages of talks with a group of U.S. investors, headed by Fenway Sports Group, regarding a potential partnership.

Commissioner Jay Monahan informed players in a memo on Sunday that the PGA Tour and LIV Golf are seeking to prolong their proposed merger deadline, which was initially set for December 31st.

We had initially set a deadline of December 31, 2023, to reach an agreement, but we are now working to extend our negotiations into next year based on the progress we have made to date, according to a memo obtained by CNBC.

The latest update in the ongoing conflict between the PGA Tour and the Saudi Public Investment Fund-backed LIV Golf has the potential to divide players and drastically alter the professional golf landscape if the merger is finalized.

Monahan informed players that the 2024 tour objective is to secure agreements with Strategic Sports Group, Saudi Arabia's Public Investment Fund, and DP World Tour as minority co-investors in PGA Tour Enterprises.

The PGA Tour is in the final stages of negotiations with Strategic Sports Group, led by Fenway Sports Group, and has given the coalition the requested due diligence information.

He stated that these partnerships will enable us to unify, innovate, and invest in the game for the advantage of players, fans, and sponsors.

According to The Telegraph, the PGA Tour and LIV are expected to make a formal decision on the combination before the Masters tournament in April.

In June, the competing golf leagues reached an agreement to merge their commercial operations, surprising the global golf community and sparking debates about competition and human rights concerns. As per the agreement, the PGA Tour would maintain a permanent controlling stake in the new entity's board of directors.

If the merger is finalized, PIF will invest $1 billion in the new commercial venture, which includes the DP World Tour, also known as the PGA European Tour.

The deal may face antitrust examination from the U.S. Federal Trade Commission and Justice Department.

LIV Golf has recently signed world No. 3 player Jon Rahm to a $300 million contract, ending the heated litigation with the PGA Tour.

The Tour announced that it would offer direct equity ownership to players once a deal with investors is reached.

Jay Monahan, PGA Tour Commissioner, met with Yasir Al-Rumayyan, LIV Golf chairman and PIF governor, to continue discussions in late November.

The PGA Tour will have athletes as owners when the finalization is complete, and there will be another co-investor with expertise in business, sport, and branding to help elevate the PGA Tour.

The story has been corrected to accurately reflect the name of Jay Monahan, which was misspelled due to an editing error.