The five-page agreement signed by PGA Tour commissioner Jay Monahan, DP World Tour CEO Keith Pelley and Public Investment Fund governor Yassir Al-Rumayyan to form a new entity that will align men's professional golf gives the PGA Tour "full decision-making authority with respect to all strategic and operational matters related to competition."
The framework agreement was signed May 30 and sent, along with other documents, to a Senate subcommittee looking into the alliance Monday ahead of a July 11 hearing in Washington.
The agreement stated that the "parties share a common goal of creating a global golf partnership and of growing and promoting the game of golf globally, ending divisions and unifying the game of golf for the benefit of all of their shareholders, including players, sponsors, and fans of the game worldwide.