There is plenty to be settled in the ongoing power struggle between LIV Golf and the PGA Tour. One thing, however, is certain: only four professional tournaments are worth watching in 2024, making it a lost season for golf fans.

Only the four major championships will offer a glimpse of elite-level competition. The Masters, the U.S. Open, the British Open, and the PGA Championship are the only tournaments in 2024 where the best will compete against the best in the truest form of professional golf.

Everything else will feature watered-down fields or the tricky gimmicks and short pants that LIV Golf features. With golfers from LIV and the PGA Tour barred from each other’s events, only the majors will feel like a legitimate golf competition.

Jon Rahm’s 180-degree decision last week to accept $500 million-plus to jump to LIV Golf from the PGA Tour highlights how fractured the sport is and how much work is needed to find a sensible resolution to make the game watchable again.

Mr. Rahm is the reigning Masters Champion, one of the top three players in the world, and formerly an ardent supporter of the PGA Tour. His decision to renounce his PGA Tour membership to join LIV Golf gives the rival league winners in 15 of the last 30 majors, splitting the pool of talent and ensuring the best golfers in the world compete for the same trophy only in the majors.

While the 2024 golf season is ruined, the signing of Mr. Rahm and the potential of luring more stars from the PGA Tour has created a sense of urgency to finalize the tentative framework announced last June that would merge LIV Golf, the PGA Tour and DP World Tour under the banner of PGA Tour Enterprises.

The tentative deal, which angered many of the PGA Tour players, ended litigation between LIV Golf and the PGA Tour and established an understanding that neither party would solicit or recruit players from competing tours. A tentative December 31 deadline was set to finalize a formal agreement, but the slow progress toward that goal frustrated LIV Golf, which is backed by Saudi Arabia’s massive Public Investment Fund.

If Mr. Rahm’s signing was intended to bring the PGA Tour to the table, it worked. An emergency meeting of the PGA Tour policy board was held over the weekend to add some clarity and direction to the negotiations. The PGA Tour’s policy board, which includes players Tiger Woods, Patrick Cantlay, Charley Hoffman, and Webb Simpson emerged with a statement saying it is “advancing our negotiations with PIF in the weeks to come,” and the DP World Tour continues to be part of the process “as we build toward PGA Tour Enterprises.”

The December 31 deadline will likely be extended as the complicated negotiations on a merger continue. Mr. Woods said recently at the Hero Challenge that the policy board would “make sure we have the best deal for all the players involved, the entire PGA Tour.”

Mr. Woods also said the policy board is discussing “a lot of options” with “a lot of moving parts.” It will be interesting to see what happens in the coming weeks. Will there be more defections or continued progress on an agreement?

Golf has been in chaos since the PIF began spending hundreds of millions of dollars signing players like Mr. Rahm, Phil Mickelson, Brooks Keopka, Dustin Johnson, Cameron Smith, Sergio Garcia, and Bryson DeChambeau to establish itself as a real threat to the PGA Tour.

While LIV Golf is flush with cash from its Saudi backers, its 54-hole scramble format, blaring music, and players in shorts haven’t caught on with viewers. Television ratings have been abysmal, and LIV Golf gets very little attention beyond the announcement of a signing.

That’s why the PIF has committed at least $1 billion toward an agreement that would turn LIV Golf, the PGA Tour, and the DP World Tour into one entity.  Meanwhile, the PGA Tour is trying to secure investors to pad its financial coffers.

In a memo to Tour members on Sunday, the PGA Tour Policy board agreed to advance negotiations with Strategic Sports Group, which includes New York Mets owner Steve Cohen, Boston Celtics owner Wyc Grousbeck, Chicago Cubs chairman Tom Ricketts, Milwaukee Brewers owner Mark Attanasio, Atlanta Falcons owner Arthur Blank, Former Milwaukee Bucks co-owner Marc Lasry, RedBird Capital Partners founder Gerry Cardinale, John Henry, Tom Werner, Mike Gordon, and Boston Red Sox parent company Fenway Sports Group.

Mr. Woods admitted there’s no clear vision of what a merger will look like. It’s also unclear what the PGA Tour will look like. In response to LIV Golf, the PGA Tour is adding some form of team golf through the Tomorrow’s Golf League set to begin in 2025 with weekly two-hour matches held in primetime. Mr. Rahm was initially part of TGL, which is led by Mr. Woods and Rory McIlroy, but withdrew his support after moving to LIV Golf.

How committed the PGA Tour is toward finalizing an agreement also remains in question. When the tentative framework was announced in June, many of the PGA Tour players, including Mr. Rahm, felt blindsided by PGA Tour commissioner Jay Monahan who did not make the players aware of what was happening. That animosity still lingers.

“We can’t let that happen again,” Mr. Woods said.

The policy board insists it’s hopeful of having a deal by December 31 to limit any more defections. “We’d like to have a deal done by December 31,” Mr. Woods said. “That’s what the agreement said this summer, and all parties understand that. But there are other options out there.”

None of those options will come in time to save the 2024 season where the four majors are the lone beacons of hope in an otherwise bleak year of golf.