Tiger Woods - The Masters - Round Two
AUGUSTA, GEORGIA - Tiger Woods of the United States plays his shot from the fourth tee during the second round of the 2023 Masters Tournament at Augusta National Golf Club on April 07, 2023 in Augusta, Georgia. Patrick Smith/Getty Images

The PGA Tour is set to merge with Saudi Arabian-backed LIV Golf to form a new yet-to-be-named organization, ending a bitter feud that has doomed the men's professional game for a year.

This deal would combine the PGA Tour and LIV Golf's commercial businesses and rights, per Bleacher Report.

The deal also involves the DP World Tour, also known as the PGA European Tour, the leading men's professional golf tour in Europe.

PGA Tour, DP World Tour, Saudi Arabian Public Investment Fund Agree to Terms

The PGA Tour made the surprising announcement on Tuesday with a statement, saying that the landmark agreement is to unify the game of golf on a global basis.

PGA Tour Commissioner Jay Monahan mentioned that no players were involved in the deal.

The LIV Golf series, backed by Saudi Arabia's Public Investment Fund, officially launched last June 2022.

Several high-profile PGA players jumped ship to LIV, most notably Phil Mickelson, who signed a massive deal with LIV in the range of $200 million. Dustin Johnson also signed a deal worth $125 million with the Gulf country-backed series.

However, other notable PGA players stayed loyal to the tour. Tiger Woods reportedly turned down $800 million from LIV, while Rory Mcllroy did not accept a $400 million offer.

Participating players of the series were prohibited from competing in PGA Tour events, sparking controversy.