Patrick Reed applied for reinstatement to the PGA Tour on Wednesday. Reed did not earn the same deal as Brooks Koepka, so he will be eligible to return on August 25, 2026. Considering August 25th is the start of the TOUR Championship, fans won’t see Reed in any major PGA Tour events until the 2027 season. This season Reed will be able to play on the DP World Tour in order to improve his PGA Tour status (and world ranking points) going into 2027. Given his current world ranking though, Reed will likely play in all four majors this year.

The PGA Tour also sent a letter to their players addressing a few more questions about tour reinstatement.

Why it Matters: While Reed hasn’t had the same success in majors as Koepka, he is still a top-50 player in the world (OWGR has him ranked 29, Data Golf 27). Reed returning is a major development for the PGA Tour and a massive blow to LIV. After winning the Dubai Desert Classic (a DP World Tour event) this past weekend, Reed explained how the win showed him how much he missed the “grind” and the “dogfight” of these tournaments. There’s a lot said in-between the lines there.

LIV’s Response: LIV is reportedly looking to sell minority equity stakes in two of their teams at a valuation of $300 million per team. The investments would serve as a badly needed infusion of capital for the money-burning league, and also a financial incentive for top players (LIV team captains each own 25% of their teams).

Hit the Sweet Spot: In the past five years, 16 different players have won a major or the Players Championship. Just five of those 16 play on LIV, two of which (Mickelson and Johnson) are past their prime. Reed leaving (and slamming the door on the way out with his comments in Dubai) leave us largely where we started: the PGA Tour is where the best players compete, and LIV is where players earn the most money. Reed and Koepka now serve as examples to others that there is a path to return.

LIV’s response also serves as a reinforcement of their issues, rather than a solution to their problem. While investments in their teams would help legitimize their team-golf format, and the captains of those two teams would surely enjoy the financial benefits, their announcement also shows how little traction they’ve made in four years. Initial reports had LIV targeting valuations of $1 billion for each of their teams, but already that has dropped to $300 million. Since 2021, the Saudi Arabian Public Investment Fund that back LIV has invested $5 billion into the tour and this past week Joe Pompilano dug through LIV’s financials and found they spend $8.50 per every dollar of revenue. These multiples don’t make sense.

While the PIF has deep pockets, they don’t have infinite money. If the top players don’t care about LIV, the fans don’t care about LIV and the league can’t make any money, maybe it’s time to put this failed experiment to bed.

The LPGA kicked off their 2026 season on Thursday with the Hilton Grand Vacations Tournament of Champions. The season-opener is a pro-am event in which winners on the LPGA from the past two years play alongside athletes and celebrities at Lake Nona Country Club. Unsurprisingly, Nelly Korda is off to a hot start. Unsurprisingly, Nelly Korda is just two back of the lead through one round.