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The GIST: The PGA is taking a huge mulligan. Despite stating it wouldn’t join forces with rival LIV Golf, the men’s golf tour — along with Europe’s DP World Tour — did exactly that yesterday. The move marks the largest win yet for Saudi Arabia’s sportswashing campaign and will likely change the sport as we know it.

The details: All three tours will stick to their original 2023 schedules, but their commercial interests will merge ASAP. The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund that backs LIV, will hold a minority stake in the new organization and plans to inject billions into the group project.

• That said, the PIF will be a minority investor with a major say, including the right to first refusal for any investments the combined venture wants to make. So who’s really in charge?

The next steps: Though the agreement ends the legal battle between the PGA and LIV, it won’t stop the U.S. Department of Justice’s (DOJ) antitrust investigation into the PGA. The U.S. Federal Trade Commission and British and European regulators may also review the deal, while the DOJ — and broadcast partners — will examine the merger’s structure.

The women’s golf angle: LIV has teased a potential women’s tour, and the PGA merger signals the Saudi-backed operation’s ability to strike a deal with the LPGA. The PIF also bankrolls several Ladies European Tour events, and LPGA head Mollie Marcoux Samaan already said she’d take a meeting with LIV.

• This merger raises questions like: Can the LPGA resist Saudi investment if the financially superior PGA couldn’t? Will the earned backlash matter to men’s and women’s golf sponsors? Only time will tell.

The GIST: Money is flying in the Windy City. Yesterday, the Chicago Sky revealed that it sold 10% of the franchise to eight investors, pocketing $8.5M in the process. The franchise’s new $85M valuation makes it the second most valuable in the WNBA.

The details: New investors include Foot Locker CEO Mary Dillon, MLB’s Chicago Cubs co-owner Laura Ricketts, ex–Time’s Up president and CEO Tina Tchen, and Chicago’s Museum of Contemporary Art board of trustees chair Cari Sacks. Existing co-owners Nadia Rawlinson and John Rogers also moved additional funds into the Sky.

• The new money will go towards improving player experience and team marketing, along with a new WNBA–specific practice facility, following in the footsteps of the Las Vegas Aces and Seattle Storm.

The value: Chicago isn’t the only team raising funds. The Storm is worth $151M after new investment last year, making it the league’s most valuable franchise. The new cash in Chicago and Seattle marks an exponential rise in WNBA team valuations since 2021, when Mark Davis bought the Aces for just $2M. Spending wisely.

Zooming out: Increasing valuations will undoubtedly impact the WNBA’s ongoing expansion race — new ownership groups are expected to set league records for entry fees. It will also narrow the list of potential candidates to those who can foot the expensive bill.

• If the NWSL expansion search is anything to go by, a trimmed-down list isn’t exactly a small one. The soccer league scored $53M from newcomers Bay FC and attracted interest from at least eight other cities. Money please!

The National Research Group (NRG) recently released the Fandom 50, a measurement of brand fandom from a survey of over 12K Americans. Though the NWSL didn’t crack the top 50, it was the top sports league for “Momentum,” which measures a brand’s evolution, vision for the future, ability to surprise and delight, creativity, and innovation.

Dick’s Sporting Goods partnered with Nike and Jordan Brand for a “Sports Change Lives” campaign yesterday. The pair rostered 10 athletes — including A’ja Wilson and Alex Morgan — for a series of videos that will appear on broadcast, social media, and other digital platforms beginning this week. All-star lineup.

Last week, the NCAA, Pac-12, and USC responded to questions from the National Labor Rights Board (NLRB) after the school’s athletes asserted that they should be considered employees. The trio denied the argument and said the NLRB doesn’t have jurisdiction over the matter since they opted out of a similar 2015 case involving Northwestern athletes.

On Monday, DP World became the official logistics provider of the International Cricket Council (ICC). The company will sponsor the match ball delivery at major international women’s and men’s cricket events, and will also assist with the ICC’s expansion logistics in countries like the U.S. and Namibia. Globe-trotter.

⚽ The NWSL launched its first Spanish-language broadcast program in the U.S. and Canada through a collaboration with Tigo Sports.

⛳ New LPGA champ Rose Zhang has over 16.5K new Instagram followers, up 54% since she decided to turn pro last month. Hole-in-one.

🏐 Salt Lake City, Utah will host a League One Volleyball team when play begins in 2024, becoming the fourth city to join the league.

🏈 Flag football participation among U.S. girls aged six to 17 grew 63% from 2019 to 2022.

🎾 The WTA created the Hologic WTA Women’s Health Taskforce to expand the health-focused commitment from the tennis tour’s title sponsor.

🎓 Name, image, and likeness collectives from the Power Five conferences will lobby Congress this week in support of athletes’ right to strike deals.

💰 Tech insights company Zoomph completed a Series A funding round, led by growth equity firm Jurassic Capital. Rawr.

Join The GIST’s Book Club on @thegistusa’s Instagram Live tonight at 5:30 p.m. ET for a discussion on May’s book of the month, Hockey Moms. And get this, author Theresa Bailey will be joining the convo, too. Save it to your calendar and chat soon.