Discovery Communications have announced a 12-year partnership with the PGA Tour for multi-platform rights to all of their golf events.
The agreement will include 220 markets and territories outside of the United States, with the partnership set to run until 2030.
The rights will include the six Tours operating under the PGA Tour umbrella and nearly 150 tournaments annually, such as the Players Championship, FedExCup Play-offs and the Presidents Cup.
Approximately 2,000 hours of content will be available per year, it is claimed.
Discovery, the parent company of Pan-European television sports network Eurosport, said the agreement would result in the creation of a dedicated, PGA Tour-branded, over-the-top (OTT) video streaming service.
This streaming service will allow golf fans to watch on every mobile screen and device.
It is claimed this will capitalise on their direct-to-consumer product and platform expertise as home to the Eurosport Player.
The company expect to invest more than $2 billion (£1.49 billion/€1.69 billion) across the 12 years, which will include licensing of the PGA Tour’s international media rights and building a global OTT platform available outside the US.
"Today is a fantastic day for golf fans around the world as Discovery proudly partners with the PGA Tour to create something that has never been done before," said David Zaslav, President and chief executive of Discovery.
"The long-term partnership between the PGA Tour and Discovery will create the new global Home of Golf, including delivering over 2,000 hours of live content year-round and this prestigious sport’s greatest moments, stories and athletes.
"Following our successful first Olympic Games in Pyeongchang, Discovery will contribute its strong global distribution and promotional infrastructure, in-market relationships, global sports expertise with direct-to-consumer platforms and brands to create a valuable new long-term Home of Golf offering in every market outside the US."
Since 2007, the PGA Tour has negotiated all of its non-US broadcast rights deals on its own.
They will now work with Discovery on a “robust international distribution and broadcast partner strategy".
The organisations claim this will optimise reach across free-to-air, pay-TV and digital providers.
This will be led by Discovery’s Alex Kaplan, who will assume the role of President and general manager of the new Discovery and PGA Tour venture.
He previously served as executive vice president of commercial for Eurosport Digital, where he helped grow the Eurosport D2C business to more than one million subscribers.
The full management team will be announced in due course and will include the PGA Tour’s Thierry Pascal as senior vice-president and head of distribution.
"I am incredibly excited to work with David Zaslav and JB Perrette to take international coverage of PGA Tour golf to the next level,” Kaplan said.
"We can’t wait to get started and build a world-class global platform and long-term distribution strategy to turn the vision of this partnership into a reality.
"By joining forces with the outstanding PGA Tour team, led by Jay Monahan and Rick Anderson, we have a unique opportunity to build an amazing product that will serve the fans with the golf content they love on every screen."
Discovery established more than 40 free-to-air broadcast partnerships for the Pyeongchang 2018 Winter Olympics.
They claimed to have delivered record-breaking television and digital viewership for the Games, including 63 per cent of the population in Europe interacting on Discovery’s own free-to-air, pay-TV and digital platforms and those of its broadcast partners
It came after they penned a contract with the International Olympic Committee in June 2015, which saw Eurosport become the continent's Olympic broadcaster from 2018 to 2024.
The deal was said to be worth €1.3 billion (£1.2 billion/$1.5 billion).