The PGA Tour has announced that it is merging with LIV Golf in an attempt 'to unify the game of golf'.
Since last spring, the respective tours - along with the DP World Tour - have been fierce rivals, the sport being separated by breaches of memberships and lawsuits.
As a result, the perceived LIV defectors were suspended from playing on the PGA Tour and DP World Tour, with that decision being upheld in court.
With the PGA Tour creating new events and regulations after LIV Golf had pressed on with their own concept, the divide appeared stronger than ever.
That was until an announcement on Tuesday afternoon revealed that the three tours in question had reached a compromise to move forward together.
In a lengthy statement, the PGA Tour said: "The PGA TOUR, DP World Tour and the Public Investment Fund (PIF) today announced a landmark agreement to unify the game of golf, on a global basis.
"The parties have signed an agreement that combines PIF's golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, collectively owned, for-profit entity to ensure that all stakeholders benefit from a model that delivers maximum excitement and competition among the game's best players.
"In addition, PIF will make a capital investment into the new entity to facilitate its growth and success. The new entity (name TBD) will implement a plan to grow these combined commercial businesses, drive greater fan engagement and accelerate growth initiatives already underway.
"With LIV Golf in the midst of its second, groundbreaking season, the PGA TOUR, DP World Tour and PIF will work together to best feature and grow team golf going forward."
As it stands, it appears that the respective tours will continue with their current schedules, but their is scope for the 2024 calendar and beyond to be altered significantly.
The development, which had not been anticipated by anyone involved in the game, comes just weeks after LIV Golf player Brooks Koepka won the US PGA Championship.
Furthermore, Jon Rahm has recently indicated that he would back LIV Golf players becoming eligible for the Ryder Cup in September, while Rory McIlroy, who took on a leadership role of sorts when speaking against LIV Golf last year, has been less vocal on the subject in recent months.
Respected golf journalist Dan Rapaport has reported on social media that no PGA Tour players were made aware of the announcement before it was made.