PINEHURST, USA — One year after the shock unveiling of a merger agreement between the PGA Tour and LIV Golf's Saudi financial backers, the controversial move has not produced a finalized deal.

It was June 6, 2023, when PGA Tour commissioner Jay Monahan and Saudi Arabian Public Investment Fund (PIF) governor Yasir Al-Rumayyan announced their plan to unify the PGA and LIV, restoring a single tour for golf's best talent.

PGA players were unhappy at being blindsided, especially after pressure over Saudi human rights issues to reject rich offers from the upstart series.

Any deal, however, had to go through the PGA Tour Policy Board, a panel revamped with a player majority in recent months.

A December 31 deadline was missed, and a transaction subcommittee is now charged with negotiations, with player member Rory McIlroy telling Sports Illustrated they have spoken with the Saudis three times a week in the past month.

A Friday (Saturday in Manila) gathering in New York with Monahan, Al-Rumayyan and Tiger Woods involved was the first in-person meeting since March, McIlroy calling it "big-boy stuff" with business leaders, not players, leading talks.

PIF would buy into the for-profit PGA Tour Enterprises, created earlier this year in a tour agreement with US sports team owners, Fenway Sports Group owner John Henry among those investing a total of $1.5 billion.

"Looking a few years down the line, LIV is going to continue to sort of keep going down its path, but with maybe more of a collaboration or an understanding between the tours," McIlroy told SI. "Maybe there's some cross-pollination there where players can start to play on both."

For now, it's just the latest rumor.