The PGA Tour and LPGA announced a “strategic alliance agreement” Friday that could lead to joint events.

The tours said in a news release that they are merely “formalizing their longstanding cooperative relationship” to promote the growth of golf and there is no transfer of ownership or control and there is no formal financial investment involved in the new agreement.

“Both parties remain wholly separate and independent organizations,” the release said.

The tours report the alliance will help with coordinating schedules and with joint marketing, domestic television and digital media strategies.

The PGA Tour and LPGA also will be “exploring the potential development of joint events.” The European Tour and Ladies European Tour announced last fall that they will stage events together in May of this year at Royal Golf Dar Es Salam in Morocco, with the women playing the Lalla Meryem Cup on the Blue Course and the men playing the Trophee Hassan II on the Red Course.

“We believe the PGA Tour has significant expertise in the areas that we will focus on together and working more closely with them carries with it the very real potential of positively impacting our members, our tournaments and our ability to grow our sport around the world,” LPGA commissioner Mike Whan said in a statement.

PGA Tour commissioner Tim Finchem said: “From our collaboration in bringing golf back as an Olympic sport as joint members of the International Golf Federation to our cooperation in helping to grow the game of golf as part of the World Golf Foundation, our two organizations have had a long history of working together for the common good of our sport. Extending our relationship with the LPGA into these new areas is a natural extension of this work and collaboration.”

Source: GOLF