The majors will be played on one of two 18-hole championship courses to be built as part of a $520 million development in the Dallas area.
The signing of the memorandum follows the PGA of America's announced intent to relocate its headquarters to Frisco, Texas, a hotbed of sport entertainment activity and the location of UNT's Frisco campus, including its sport entertainment management program.
The golf courses are expected to open in summer 2022, a statement said.
It's those courses that will host two PGA Championships - in 2027 and 2034 - and possibly even a future Ryder Cup. The Senior PGA Championship and Women's PGA Championship will be held there twice, in addition to a possible Ryder Cup.
The last major in Texas was in 1969, when Orville Moody won the U.S. Open at Champions Golf Club in Houston. Most of the cost of the development falls to Omni Stillwater Woods, a joint venture by Omni Hotels & Resorts with Stillwater Capital and Woods Capital.
Frisco is located about 25 miles north of Dallas. Omni Stillwater Woods will spend $455 million to buy the land and build the hotel, conference center, retail space, parking and the golf courses.
The PGA's Northern Texas Section will also move to PGA Frisco, where state of the art connectivity will provide opportunities to pilot promising new growth-of-the-game programming for all 41 Sections of the PGA of America.
Major championship golf is coming back to Texas. The courses, clubhouse, practice areas and associated public facilities will be owned by the city. Those incentives could be worth up to $74 million.
Texas has only hosted six men's major golf tournaments in the state's history, including the 1941 U.S. Open at Colonial Country Club. Its getting about $160 million in incentives from various entities, but Frisco officials say the project will have an economic impact of more than $2.5 billion over the next 20 years.
"This is a tremendous opportunity for all of North Texas", said Robert Elliott, co-founder, Stillwater Capital.