PGA Tour strikes $3 billion deal with Fenway-led investment group. Players to get equity ownership
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January 31, 2024
PEBBLE BEACH, Calif. (AP) — The PGA Tour is getting a $3 billion investment from Strategic Sports Group in a deal announced Wednesday that would give players access to more than $1.5 billion as equity owners in the new PGA Tour Enterprises.
The launch of PGA Tour Enterprises, with SSG as a minority partner, comes eight months after the PGA Tour signed a framework agreement with the Saudi backers of LIV Golf for a commercial venture, which ultimately led to private equity groups wanting to join.
The Public Investment Fund of Saudi Arabia is not part of the deal yet, though the tour said negotia...
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