The PGA Tour regarded the European Tour Group as an “underinvested and borderline distressed asset” during analysis aimed at facilitating a merger between the parties last year.
Through the proposed deal, the PGA Tour had targeted financial benefit from the Ryder Cup, a competition which is the domain of the ETG and the PGA of America. The merger was projected to cost the PGA Tour between $40m (£31.5m) and $60m by way of a “reserve fund” over five years.
