The PGA Tour will merge with the Saudi-backed LIV Golf organization and the European Tour to form a new entity beginning in 2024, it was announced Tuesday.

The merger comes after nearly a year of simmering hostilities between the PGA Tour and LIV, which began play in 2022. Several top-level PGA stars such as Brooks Koepka, Phil Mickelson and Dustin Johnson were wooed away to LIV by the Saudi Public Investment Fund, which paid signing bonuses in the hundreds of millions.

Though publicly scorned and scrutinized due to the Saudi government’s checkered human-rights history, LIV members were still allowed to play in the four PGA Tour majors. Koepka won last month’s PGA championship.

The merger will end any litigation between the organizations and their former members. Former PGA and European (DP World) Tour members for left for LIV will be allowed to re-apply for membership at the completion of the 2023 season.

“After two years of disruption and distraction, this is a historic day for the game we all know and love,” PGA TOUR Commissioner Jay Monahan said. “This transformational partnership recognizes the immeasurable strength of the PGA TOUR’s history, legacy and pro-competitive model and combines with it the DP World Tour and LIV – including the team golf concept – to create an organization that will benefit golf’s players, commercial and charitable partners and fans. Going forward, fans can be confident that we will, collectively, deliver on the promise we’ve always made – to promote competition of the best in professional golf and that we are committed to securing and driving the game’s future.

“We are pleased to move forward, in step with LIV and PIF’s world-class investing experience, and I applaud PIF Governor Yasir Al-Rumayyan for his vision and collaborative and forward-thinking approach that is not just a solution to the rift in our game, but also a commitment to taking it to new heights. This will engender a new era in global golf, for the better.”

The new, as-yet-named entity will have its own board of directors, which will “oversee and direct all the new entity’s golf-related commercial operations, businesses and investments” and create a “cohesive” schedule of events. Monahan will serve on the new organization’s board, along with Al-Rumayyan and PGA Tour executives Ed Herlihy and Jimmy Dunne.

“This is a momentous day,” European Tour CEO Keith Pelley said. “We are delighted to be able to not only reignite our relationship with PIF, but also to have the opportunity to build on our current Strategic Alliance partnership with the PGA Tour. Together we will be stronger than ever and well positioned to continue to bring the game to all corners of the globe. To partner in this new entity and influence the growth of the game for all our DP World Tour members is energizing and exciting.”