European Tour chief executive George O’Grady said “collaboration” with the PGA Tour would continue after both organisations stated that reports of an attempted buyout were incorrect.
Reports in various newspapers claimed the US tour had made a bid for its European counterpart as frustration from players on this side of the Atlantic grows with the state of the game.
European Tour chief operating officer Keith Waters said: “The notion that the PGA Tour is somehow bidding to buy the European Tour is incorrect.”
O’Grady added: “The European Tour has collaborated with the PGA Tour and all other members of the International Federation of PGA Tours on many ventures since we worked together on the formation of the World Golf Championships in 1999. This collaboration will continue.
“At this time when many of our leading members are also members of the PGA Tour it is vital that we continue to work together to ensure the progression of tournament golf throughout the world.
“Over the past two weeks, 35 European Tour Members played in the WGC-Bridgestone Invitational while 58 competed in the US PGA Championship.”
During the BMW PGA Championship in May, Lee Westwood called on the European Tour and PGA Tour to co-ordinate their tournaments to ensure more players did not stay in the “comfort zone” of the United States.
Westwood and 10 of his Ryder Cup team-mates from the ‘Miracle at Medinah’ competed at Wentworth only Peter Hanson missed out due to a back injury but that was the only one of the season’s 46 events being staged in England in 2013, compared to six in South Africa and three in China, with 21 events being held in Europe and 25 outside.
Despite the current parlous financial climate, Waters also reported that the European Tour is positive about the future, with the inaugural Final Series at the end of the year offering a combined prize pool of more than £20million.
That includes the £4.6million Turkish Airlines Open the week before the season-ending DP World Tour Championship in Dubai, with world number one Tiger Woods already committed to taking part.
Responding to the reports of a buyout, PGA Tour commissioner Tim Finchem said they were inaccurate.