- Strategic Sports Group’s initial investment could reportedly be worth $3billion
- The PGA Tour’s deal with the consortium may not initially involve LIV Golf
- DailyMail.com provides all the latest international sports news
The PGA Tour is reportedly closing in on an investment deal with a US consortium made up of owners of major American sports teams including John Henry and Arthur Blank, according to a report.
The Tour is said to be close to striking a deal with Strategic Sports Group, which will see a massive $3billion pumped into the professional golf organization, according to Bloomberg.
The agreement comes as the PGA Tour continues to negotiate with rival circuit LIV Golf’s financiers, Saudi Arabia’s Public Investment Fund, with the deadline to finalize their ‘merger’ reportedly pushed back to April.
However, the PGA Tour’s investment from Strategic Sports Group is not thought to affect talks with PIF, who is believed to still be putting its own funding into the Tour.
With Strategic Sports Group’s added tranche, PGA Tour Enterprises, the for-profit entity created to house the Tour’s commercial interests, reportedly could see its value rise to $12billion.
The PGA Tour (pictured commissioner Jay Monahan) is reportedly closing in on an investment deal with a US consortium made up of owners of major American sports teams
Strategic Sports Group is said to include Liverpool’s owner Fenway Sports Group’s John W Henry (left) and New York Mets owner Steve Cohen (right)
Saudi Arabia’s PIF (pictured governor Yasir Al-Rumayyan) is still in negotiations with LIV Golf
But the deal may not initially include PIF’s LIV Golf, Bloomberg’s report adds, as discussions over the rebel breakaway and PGA Tour’s future relationship continue.
Strategic Sports Group is said to include Tom Werner and John Henry (Boston Red Sox and Liverpool FC), Arthur Blank (Atlanta Falcons) and Wyc Grousbeck (Boston Celtics).
The New York Mets’ billionaire owner Steve Cohen’s family office Cohen Private Ventures and Marc Lasry, a former co-owner of the Milwaukee Bucks, are also reportedly involved.
The PGA Tour had confirmed that it would continue negotiations with PIF and LIV Golf, despite hostilities being renewed by the Saudi-backed breakaway’s capture of Jon Rahm last month and rumors of Tyrrell Hatton following his Ryder Cup teammate.
However, discussions between the parties have been slow with the initial December 31 deadline missed amid concerns from US politicians.
