European Tour denies PGA Tour takeover

(CNN) -- The chief executive of golf's European Tour has dismissed reports the organization could be bought out by its American counterpart the PGA Tour.

Reports claimed the U.S.-based PGA Tour wanted to take advantage of the current Eurozone financial crisis by launching a takeover of its European equivalent, which is based in England.

"The notion that the PGA Tour is somehow bidding to buy The European Tour is incorrect," the European Tour's chief operating officer Keith Waters said in a statement.

"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," added Europe's chief executive George O'Grady.

"This collaboration will continue."

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The European Tour hosts well-established tournaments all over the world, including in the lucrative Asian market.

An acquisition of the European Tour would help the PGA Tour tap into potentially money-spinning countries such as China.

But O'Grady poured cold water on the rumors, reaffirming the European Tour's commitment to hosting events across the globe.

"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," continued O'Grady.

"Over the past two weeks, 35 European Tour members played in the WGC Bridgestone Invitational while 58 competed in the US PGA Championship.

"We are delighted that our Members continue to fly the flag for the European Tour around the world, which not only gives them the opportunity to progress their individual careers but ourselves the chance to explore opportunities to our mutual benefit."

Jason Dufner celebrated in low-key fashion after winning his first major at the PGA Championship. He beat Jim Furyk, right, by two shots.

Dufner hugged wife Amanda after clinching victory and the two soon got up close and personal with the winners' trophy.

Tiger Woods watches his drive on the fourth hole. Woods began the final round earlier than he would have wanted, well off the pace heading into Sunday.

Woods came into Oak Hill in good form, having waltzed to the title at the WGC-Bridgestone Invitational. But, in tying for 40th, his drought at majors will extend to six years. He was 14 shots behind Dufner.

Phil Mickelson had a round to forget Saturday, shooting a 78. But he was back at Oak Hill on Sunday and fared better, carding a 72. He finished in a tie for 72nd.

Sweden's Henrik Stenson didn't like his tee shot on the ninth hole. Stenson had a good summer and finished third at the PGA but could only manage a par-70 on Sunday.

Ryder Cup teammates Lee Westwood, left, and Rory McIlroy had time to see the lighter side. After his tough final round at the British Open, Westwood again struggled in the final round at Oak Hill.

Rickie Fowler finished with a one-under-par 69. But his attire probably drew more attention than his score.

Low key celebration

Sweet taste of success

Early start for Tiger

The drought continues

Back out there

Agony for Stenson

Sharing a laugh

Colorful Fowler

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Dr. Bob Rotella (left) has worked with some of golf's biggest names on the mental side of what can be a very lonely pursuit. His prowess has helped plenty of players realize their dreams, like three-time major champion Padraig Harrington of Ireland (center).

But for all the triumphs there are just as many major chokes. Australian Adam Scott was on course for his first major at the British Open in 2012 but blew a four-shot lead over the closing holes to let Ernie Els swoop in to steal the crown. Scott did grab his first major this year though, at The Masters.

Rory McIlroy now has two majors to his name but back at the 2011 Masters he was searching for his first. The Northern Irishman started the final day with a four-stroke lead but shot the worst round ever recorded by someone leading after three rounds of the Masters. Charl Schwartzel took the title, but McIlroy bounced back to win the U.S. Open just two months later.

I.K. Kim endured major heartbreak in 2012. The 24-year-old missed a one-foot putt on the final hole of the Kraft Nabisco Championship that would've earned her first major, and then lost a playoff to fellow South Korean Yoo Sun-Young.

Another of Rotella's charges, Darren Clarke, held his nerve to win the 2011 British Open, his first major title at the 46th attempt. Then 42, the Northern Irishman held true to Rotella's mantra: "You're unstoppable if you're unflappable."

One of golf's most famous failures came from Jean van de Velde. The Frenchman was on course to become a shock winner of the 1999 British Open, requiring just a double bogey on the 18th hole to claim the Claret Jug. What followed has made Van de Velde one sport's most infamous chokers, with a series of wayward shots leaving him in the water. Van de Velde found a greenside bunker with his fifth shot before he eventually holed his seventh for a triple bogey, forcing a playoff. Scotland's Paul Lawrie emerged from the three-way decider as the champion.

Even the greats are prone to the odd choke. Not only did seven-time major winner Arnold Palmer blow a seven-shot lead at the 1966 U.S. Open but he also lost the subsequent 18-hole playoff for the title to Billy Casper after having led by two shots.

Another Rotella player, Keegan Bradley, won the first major he ever participated in -- the U.S. PGA Championship of 2011. Thanks to his work with Rotella, Bradley was able to immediately banish a potentially terminal triple bogey on the 15th hole from his mind and recover to make a playoff with Jason Dufner, which he duly won.

Mind over matter

One that Scott away

McIlroy's meltdown

Kim crisis

Clarke's Claret Jug

Troubled waters

Palmer's peril

Bradley's breakthrough

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PGA Tour commissioner Tim Finchem also denied the reports, but did say collaboration between the two bodies could increase revenue for the sport.

"Certain news reports today have indicated that the PGA Tour has made an offer to acquire the European Tour," he said in a statement. "Those reports are inaccurate.

"However, as I have stated publicly on several occasions, the integration of professional golf can create additional value for our players, sponsors and fans.

"Such integration has been ongoing since 1994, with the founding of the International Federation of PGA Tours, and has led to the establishment of the World Golf Championships in 1999 as well as the World Cup as a federation-sanctioned event.

"More recently, all the major golf bodies around the world worked together to bring golf back to the Olympic Games."

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The European Tour, founded in 1972, has recently seen top golfers like British duo Rory McIlroy and Lee Westwood head across the Atlantic to play on the more lucrative PGA Tour.

The two tours jointly run the Ryder Cup, a biennial competition between the U.S. and Europe.

Graeme McDowell, a member of three European Ryder Cup teams who plays on the PGA Tour, has spoken out against a takeover, saying it could damage the Ryder Cup.

"If PGA Tour bought (sic) European Tour things like Ryder Cup rivalry would be gone," the 2010 PGA Championship winner said via his official Twitter account. "Yes our top players play mostly PGA but maintain Euro identity."