The agreement leaves Saudi Arabia having to wait for a seat at golf's top table. Further investment from the Public Investment Fund, which has funded the rebel LIV tour, is dependent on regulatory approval as the United States' Department of Justice maintains a close watch on golf's power struggle.
The PGA Tour, European Tour Group and PIF announced last June it had settled on a framework agreement aimed at ending golf's civil war with LIV. The upshot for now is the creation of a new commercial entity, PGA Tour Enterprises, which gives players already among the highest paid in sport - access to $1.5bn in equity.
The PGA Tour told players the funds will be realised according to "career accomplishments, recent achievements, future participation and services"; good news for marquee PGA Tour players such as Mcllroy and Woods.
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