@pitch_magazine_The PGA Tour is to confirm that it has approved a deal for a group of investors led by Liverpool FC and Red Sox owner John Henry to invest in the US golf organisation’s new commercial entity. Strategic Sports Group is set to inject about $3bn in the tour’s commercial business
@JoePomplianoThe PGA Tour has finalized an agreement with Strategic Sports Group, injecting about $3 billion of cash into a new for-profit entity.
Investors include:
• Tom Werner & John Henry (Boston Red Sox)
• Mark Attanasio (Milwaukee Brewers)
• Arthur Blank (Atlanta Falcons)
• Wyc Grousbeck (Boston Celtics)
• Steve Cohen (New York Mets)
• Tom Ricketts (Chicago Cubs)
The PGA Tour will be the majority shareholder.
The new entity is expected to be valued at $12 billion, and current PGA Tour players will get equity.
Importantly, this deal does not include Saudi Arabia's Public Investment Fund, although the PGA Tour is still negotiating with them on a potential partnership.
PGA TOUR Commissioner Jay Monahan (left) and John W. Henry, Principal Owner of Fenway Sports Group and Manager of the Strategic Sports Group, finalize the launch of PGA TOUR Enterprises.