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The PGA Tour has greenlit a significant investment of up to $3 billion by Strategic Sports Group (SSG) in a novel commercial entity, marking a major collaboration. Led by John Henry’s Fenway Sports Group, owner of the Boston Red Sox and Liverpool FC, SSG's initial investment is set at $1.5 billion, as confirmed in a statement on Wednesday. The deal values the newly formed entity at approximately $12 billion, and while Saudi Arabia’s Public Investment Fund (PIF) is engaged in ongoing discussions, it is not currently included in the agreement.
- SSG’s consortium of investors, including Steve Cohen’s Cohen Private Ventures and Avenue Sports Fund led by Marc Lasry, may inject an additional $1.5 billion into the venture. This supplementary capital could be directed towards enhancing the PGA Tour’s digital strategy, improving broadcasts, supporting international expansion, and other ongoing business initiatives. Almost 200 PGA Tour members have the opportunity to become equity holders in the new company named PGA Tour Enterprises, fostering a collaborative approach to the sport’s development.
Why it matters
PGA Tour Commissioner Jay Monahan expressed optimism about the partnership, emphasizing how SSG's extensive experience across sports, media, and entertainment will contribute to making the sport more rewarding for players, tournaments, fans, and partners.
