Billionaire Consortium Injects $3 Billion into PGA Tour for New For-Profit Entity

ATLANTA, Georgia – The PGA Tour has reached a groundbreaking agreement with Strategic Sports Group (SSG), a consortium of billionaire sports team owners, to bring a massive investment of at least $3 billion into a newly established for-profit entity called PGA Tour Enterprises. According to sources, this deal marks a significant turning point for the organization.

PGA Tour commissioner Jay Monahan is poised to announce the agreement to PGA Tour, PGA Tour Champions, and Korn Ferry Tour members during a conference call on Wednesday morning. Although the call will only allow participants to listen, tour members have been assured that there will be future opportunities for further communication and clarification.

Numerous reports on Dec. 15 suggested that a partnership with SSG was imminent, and now it seems that the deal has been sealed. The SSG, whose roster includes prominent sports figures such as Tom Werner, John Henry, Mark Attanasio, Arthur Blank, Wyc Grousbeck, Steve Cohen, and Tom Ricketts, will hold a minority investment in PGA Tour Enterprises. Nonetheless, the PGA Tour will retain majority ownership.

Moreover, the PGA Tour is also engaging in negotiations with Saudi Arabia’s Public Investment Fund (PIF) and the DP World Tour, exploring the possibility of injecting additional billions into PGA Tour Enterprises. The three parties had initially signed a framework agreement on June 6, combining their commercial assets, including the LIV Golf League. While the deadline for finalizing the agreement was extended past Dec. 31, recent reports indicate that progress is being made, with Monahan having met with PIF governor Yasir Al-Rumayyan in Saudi Arabia last week.

Against this backdrop, the PGA Tour policy board gathered in California for meetings ahead of the AT&T Pebble Beach Pro-Am. The player advisory council of the PGA Tour is also scheduled for a conference call on Wednesday morning, with Rory McIlroy, who resigned from the policy board in November, expressing optimism about the SSG deal.

“I know that they were supposed to vote on it Sunday night, and there was a delay… I think just for all of our sakes that the sooner that we sort of get out of it and we have a path forward, the better,” McIlroy said on Tuesday, regarding the impending deal.

The agreement between the PGA Tour and Strategic Sports Group signifies a major financial boost for the organization, paving the way for new avenues of growth and development. The implications of this deal could reshape the landscape of professional golf and help solidify the PGA Tour’s position as a leading force in the industry.