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orth America’s PGA Tour and European Tour have formed a partnership which they believe will be the beginning of ‘a significant new era for global golf’.

The two organisations will work on strategic commercial opportunities and collaborate on global media rights in specific territories.

The Florida-based PGA Tour will be granted a minority investment stake in European Tour Productions (ETP), who are responsible for the production and distribution of the UK-based tour’s international content.

Prizing funds, playing opportunities for respective memberships, and global scheduling will also be areas of focus for the tours.

PGA Tour commissioner, Jay Monahan, has been announced to be one of the European Tour board members.

European Tour chief executive, Keith Pelley, said: “This partnership is a historic moment for the game of golf and is a fantastic opportunity for both the European Tour and the PGA Tour to explore ways to come together at the very pinnacle of our sport and work in unison for the benefit of the men’s professional game.”

“Today’s announcement is the formalisation of a closer working relationship between the tours in recent years.

“It was one which was crystalised earlier this year when both Jay and I were part of the working group containing representatives of the four majors and the LPGA, a group which helped shape the remainder of the golfing calendar for 2020 during unprecedented times.

“We shared the challenges of working through a year neither of us could have ever imagined and we found definite synergies in many areas of our respective tours.

“That gave us the impetus to move forward together and arrive at this momentous announcement we are making today,” Pelley said.

The European Tour was forced to reduce their prize funds following a decline in revenues caused by the COVID-19 pandemic.

In the McKellar podcast, Pelley said that “there is definitely a will” for the two tours to band together and that “those conversations are stronger than they’ve ever been”.

Northern Irish golfing star, Rory McIlroy, said: “Golf at the highest level needs to be simplified” and implied he would support a merger between the PGA Tour and European Tour.

The merger also coincides with the World Golf Group’s (WGG) recent plans to develop a rival Premier Golf League, where 48 players will compete in an 18-event season.

The prize fund will be $324.6 million.

The partnership was announced exactly one year following the Ladies European Tour (LET) announcing their partnership with Ladies Professional Golf Organisation (LPGA).

This news also follows recent news from the PGA of Australia and ALPG revealing a new brand alignment for the ALPG Tour to become the WPGA Tour of Australasia.