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"I can tell you we are categorically not in financial difficulties. Keith Pelley says a merger between the European Tour and PGA Tour is 'miles away' after announcing they will work together in partnership. Keith Pelley says a merger between the European Tour and PGA Tour is 'miles away' after announcing they will work together in partnership. "We are in robust financial health with a very strong balance sheet, strongest ever and a strong support of networks of partners. We have played 23 events since July in Q3 and Q4, creating 15 from scratch, showing incredible resilience and flexibility. "Also, at the same time, funding a health strategy and Covid testing of another three million. I don't think that this is a business or that it simply would have been possible for a business which did not have robust finances. News of the European Tour and PGA Tour signing a 'strategic alliance' which will see the organisations work closely together. "Let me be perfectly clear: We did not have to enter into this agreement or any other. We chose to you could try this out because it is in the best interests of both tours, for our players, for our golf fans, and for global professional golf." The new partnership also raised questions about the possibility of a future merger between the European Tour and PGA Tour, although Pelley insisted that wasn't the case. Jay Monahan will be on the Board of the European Tour "If this was a merger, or a pathway to a merger, it would have to have significant benefits for our members," Pelley added.