The Saudi Golf League will begin in the United Kingdom in June with the richest golf events in history after many months of controversy and speculation.
The first event will take place at the Centurion Club where a huge $25 million will be on offer a week before the US Open.
This will be the first event of the new series and seven more events will follow. A total prize fund of $400 million has been allocated across all events.
Out of the first seven events, four of them will be held in America. $20 million in individual prize money will be available at each event as well as $5 million for the top three teams in this format.
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After seven events have been completed, the top three players will share a prize fund of $30 million. The eighth and final event will have a team championship format with a massive purse of $50 million.
Although it has been branded as the LIV Golf Invitational Series, it is understood that this is very much the entity of the Saudi Golf League which everyone has been expecting to arise in 2022.
The Trump National in New Jersey has been confirmed as one of the courses to be used on the new series. This is due to host the third event two weeks after The Open Championship.
Prior to the announcement, Greg Norman sent a letter to the players on the PGA Tour, stating that they "will not stop" and they intend to continue their plans.
Norman promised the plans would be announced on Wednesday, and they have been. It will certainly be fascinating to see the reaction of players and officials from the PGA Tour and the DP World Tour.